XML 53 R40.htm IDEA: XBRL DOCUMENT
v3.25.1

MORTGAGE LOANS AND NOTES PAYABLE (Tables) - Mortgage Loans | 3 Months Ended
--- | ---
Mar. 31, 2025
Summary of debt | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Carrying Value as of | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, | ​ | December 31, | ​ | Effective | ​ | Maturity
Mortgage Loans and Notes Payable |  | 2025 |  | 2024 |  | Interest Rate | ​ | Date
​ | ​ | (in thousands) | ​ | ​ | ​ | ​ | ​
Long Island City II, NY | ​ | $ | 17,246 | ​ | $ | 17,368 | ​ | 2.25 | % | ​ | Jul-26
Long Island City III, NY | ​ | ​ | 17,247 | ​ | ​ | 17,371 | ​ | 2.25 | % | ​ | Aug-26
Allen, TX (1) | ​ | ​ | 7,377 | ​ | ​ | 7,432 | ​ | 6.29 | % | ​ | Aug-26
Dallas-Fort Worth, TX (1) | ​ | ​ | 108,000 | ​ | ​ | 108,000 | ​ | 6.23 | % | ​ | May-29
Flushing II, NY | ​ | ​ | 54,300 | ​ | ​ | 54,300 | ​ | 2.15 | % | ​ | Jul-29
Principal balance outstanding | ​ | ​ | 204,170 | ​ | ​ | 204,471 | ​ | ​ | ​ | ​ | ​
Plus: Unamortized fair value adjustment | ​ | ​ | 5,736 | ​ |  | 6,137 | ​ | ​ | ​ | ​ | ​
Less: Loan procurement costs, net | ​ | ​ | (4,406) | ​ | ​ | (4,693) | ​ | ​ | ​ | ​ | ​
Total mortgage loans and notes payable, net | ​ | $ | 205,500 | ​ | $ | 205,915 | ​ | ​ | ​ | ​ | ​
​
| (1) | The Company owns an 85% interest in consolidated joint ventures that are the borrowers on these mortgage loans.
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, 2025 (in thousands): ​
​ | ​ | ​ | ​
2025 |  | $ | 884
2026 | ​ |  | 40,986
2027 | ​ |  | —
2028 | ​ |  | —
2029 | ​ |  | 162,300
2030 and thereafter | ​ |  | —
Total principal payments | ​ | $ | 204,170
​

X
- 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. + Details
Name: | us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturity and sinking fund requirement for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 470 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-1 + Details
Name: | us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=us-gaap_MortgagesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |