XML 44 R32.htm IDEA: XBRL DOCUMENT

MORTGAGE LOANS AND NOTES PAYABLE (Tables) - Mortgage Loans

6 Months Ended

Jun. 30, 2022

Summary of debt


		Carrying Value as of
		June 30,			December 31,			Effective			Maturity
Mortgage Loans and Notes Payable		2022			2021			Interest Rate			Date

		(in thousands)
Nashville V, TN		$	2,177		$	2,206		3.85	%		Jun-23
New York, NY			29,007			29,340		3.51	%		Jun-23
Annapolis I, MD			5,003			5,099		3.78	%		May-24
Brooklyn XV, NY			15,259			15,423		2.15	%		May-24
Long Island City IV, NY			12,426			12,580		2.15	%		May-24
Long Island City II, NY			18,500			18,714		2.25	%		Jul-26
Long Island City III, NY			18,508			18,723		2.25	%		Aug-26
Flushing II, NY			54,300			54,300		2.15	%		Jul-29
Principal balance outstanding			155,180			156,385
Plus: Unamortized fair value adjustment			11,603			12,981
Less: Loan procurement costs, net			(1,478)			(1,690)
Total mortgage loans and notes payable, net		$	165,305		$	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 June 30, 2022 (in thousands):


2022		$	1,221
2023			32,591
2024			32,329
2025			979
2026			33,760
2027 and thereafter			54,300
Total mortgage payments			155,180
Plus: Unamortized fair value adjustment			11,603
Less: Loan procurement costs, net			(1,478)
Total mortgage loans and notes payable, net		$	165,305