OTHER INCOME	3 Months Ended
Mar. 31, 2022
OTHER INCOME
OTHER INCOME	NOTE 13 – OTHER INCOME Insurance Recoveries on Hurricane Casualty In 2020, a portion of a multi-tenanted building at the Company’s Lake Charles, Louisiana property was damaged due to Hurricane Laura. The Company submitted a claim to its insurance carrier to cover, less the $263,000 deductible, the (i) approximate $2,306,000 cost to rebuild the damaged portion of the building (of which $918,000, $975,000 and $150,000 were received in February 2022, and during the years ended December 31, 2021 and 2020, respectively), and (ii) $259,000 of losses in rental income (of which $43,000 and $216,000 were received in February 2022 and during the year ended December 31, 2021, respectively). The Company recognized a gain on insurance recoveries of $918,000 and $20,000 during the three months ended March 31, 2022 and 2021, respectively, which is included in Other income on the consolidated statements of income. Lease Assignment Fee Income In March 2021, the Company received a one-time $100,000 fee from a tenant in connection with consenting to a lease assignment related to six of its properties; such amount is included in Other income on the consolidated statement of income for the three months ended March 31, 2021. Interest Income on Loan Receivable In 2020, in connection with a sale of two properties in Houston, Texas, the Company provided the buyer a $4,612,500 one-year loan representing 50% of the purchase price. The Company received $46,000 of interest income on this loan during the three months ended March 31, 2021, which is included in Other income on the consolidated statement of income. The loan was repaid in full in April 2021.

OTHER INCOME

3 Months Ended

Mar. 31, 2022

NOTE 13 – OTHER INCOME

Insurance Recoveries on Hurricane Casualty

In 2020, a portion of a multi-tenanted building at the Company’s Lake Charles, Louisiana property was damaged due to Hurricane Laura. The Company submitted a claim to its insurance carrier to cover, less the $263,000 deductible, the (i) approximate $2,306,000 cost to rebuild the damaged portion of the building (of which $918,000, $975,000 and $150,000 were received in February 2022, and during the years ended December 31, 2021 and 2020, respectively), and (ii) $259,000 of losses in rental income (of which $43,000 and $216,000 were received in February 2022 and during the year ended December 31, 2021, respectively). The Company recognized a gain on insurance recoveries of $918,000 and $20,000 during the three months ended March 31, 2022 and 2021, respectively, which is included in Other income on the consolidated statements of income.

Lease Assignment Fee Income

In March 2021, the Company received a one-time $100,000 fee from a tenant in connection with consenting to a lease assignment related to six of its properties; such amount is included in Other income on the consolidated statement of income for the three months ended March 31, 2021.

Interest Income on Loan Receivable

In 2020, in connection with a sale of two properties in Houston, Texas, the Company provided the buyer a $4,612,500 one-year loan representing 50% of the purchase price. The Company received $46,000 of interest income on this loan during the three months ended March 31, 2021, which is included in Other income on the consolidated statement of income. The loan was repaid in full in April 2021.