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MORTGAGE LOANS AND NOTES PAYABLE (Tables) - Mortgage Loans

3 Months Ended

Mar. 31, 2022

Summary of debt


		Carrying Value as of
		March 31,			December 31,			Effective			Maturity
Mortgage Loans and Notes Payable		2022			2021			Interest Rate			Date

		(in thousands)
Nashville V, TN		$	2,191		$	2,206		3.85	%		Jun-23
New York, NY			29,170			29,340		3.51	%		Jun-23
Annapolis I, MD			5,051			5,099		3.78	%		May-24
Brooklyn XV, NY			15,339			15,423		2.15	%		May-24
Long Island City IV, NY			12,502			12,580		2.15	%		May-24
Long Island City II, NY			18,605			18,714		2.25	%		Jul-26
Long Island City III, NY			18,614			18,723		2.25	%		Aug-26
Flushing II, NY			54,300			54,300		2.15	%		Jul-29
Principal balance outstanding			155,772			156,385
Plus: Unamortized fair value adjustment			12,299			12,981
Less: Loan procurement costs, net			(1,582)			(1,690)
Total mortgage loans and notes payable, net		$	166,489		$	167,676

Schedule of the future principal payment requirements on the outstanding mortgage loans and notes payable

The following table represents the future principal payment requirements on the outstanding mortgage loans and notes payable as of March 31, 2022 (in thousands):


2022		$	1,813
2023			32,591
2024			32,329
2025			979
2026			33,760
2027 and thereafter			54,300
Total mortgage payments			155,772
Plus: Unamortized fair value adjustment			12,299
Less: Loan procurement costs, net			(1,582)
Total mortgage loans and notes payable, net		$	166,489