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MORTGAGE LOANS AND NOTES PAYABLE (Tables) - Mortgage Loans

9 Months Ended

Sep. 30, 2022

Summary of debt


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

		(in thousands)
Nashville V, TN		$	2,163		$	2,206		3.85	%		Jun-23
New York, NY			28,841			29,340		3.51	%		Jun-23
Annapolis I, MD			4,955			5,099		3.78	%		May-24
Brooklyn XV, NY			15,177			15,423		2.15	%		May-24
Long Island City IV, NY			12,349			12,580		2.15	%		May-24
Long Island City II, NY			18,393			18,714		2.25	%		Jul-26
Long Island City III, NY			18,401			18,723		2.25	%		Aug-26
Flushing II, NY			54,300			54,300		2.15	%		Jul-29
Principal balance outstanding			154,579			156,385
Plus: Unamortized fair value adjustment			10,910			12,981
Less: Loan procurement costs, net			(1,373)			(1,690)
Total mortgage loans and notes payable, net		$	164,116		$	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 September 30, 2022 (in thousands):


2022		$	620
2023			32,591
2024			32,329
2025			979
2026			33,760
2027 and thereafter			54,300
Total mortgage payments			154,579
Plus: Unamortized fair value adjustment			10,910
Less: Loan procurement costs, net			(1,373)
Total mortgage loans and notes payable, net		$	164,116