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MORTGAGE LOANS AND NOTES PAYABLE (Tables) - Mortgage Loans

12 Months Ended

Dec. 31, 2022

Summary of debt

​

​	​	​	​	​	​	​	​	​	​	​	​
​	​	Carrying Value as of					​	​	​	​	​
​		December 31,						Effective		​	Maturity
Mortgage Loans and Notes Payable		2022			2021			Interest Rate		​	Date
​	​	(in thousands)					​	​	​	​	​
Nashville V, TN	​	$	2,148	​	$	2,206	​	3.85	%	​	Jun-23
New York, NY	​	​	28,669	​	​	29,340	​	3.51	%	​	Jun-23
Annapolis I, MD	​	​	4,906	​	​	5,099	​	3.78	%	​	May-24
Brooklyn XV, NY	​	​	15,093	​	​	15,423	​	2.15	%	​	May-24
Long Island City IV, NY	​	​	12,270	​	​	12,580	​	2.15	%	​	May-24
Long Island City II, NY	​	​	18,283	​	​	18,714	​	2.25	%	​	Jul-26
Long Island City III, NY	​	​	18,290	​	​	18,723	​	2.25	%	​	Aug-26
Flushing II, NY	​	​	54,300	​	​	54,300	​	2.15	%	​	Jul-29
Principal balance outstanding	​	​	153,959	​	​	156,385	​	​	​	​	​
Plus: Unamortized fair value adjustment	​	​	10,228	​		12,981	​	​	​	​	​
Less: Loan procurement costs, net	​	​	(1,269)	​	​	(1,690)	​	​	​	​	​
Total mortgage loans and notes payable, net	​	$	162,918	​	$	167,676	​	​	​	​	​

​

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

​

​	​	​	​
2023		$	32,591
2024	​		32,329
2025	​		979
2026	​		33,760
2027	​		—
2028 and thereafter	​		54,300
Total mortgage payments	​		153,959
Plus: Unamortized fair value adjustment	​		10,228
Less: Loan procurement costs, net	​	​	(1,269)
Total mortgage loans and notes payable, net	​	$	162,918

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- Definition

Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

+ References

No definition available.

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- Definition

Tabular disclosure of maturity and sinking fund requirement for long-term debt.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=123465755&loc=d3e1835-112601

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