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DEBT OBLIGATIONS (Tables)

12 Months Ended

Dec. 31, 2023

DEBT OBLIGATIONS

Schedule of mortgages payable, net

The following table details the Mortgages payable, net, balances per the consolidated balance sheets (amounts in thousands):

​	​	​	​	​	​	​
​	​	December 31,
​	​	2023			2022
Mortgages payable, gross	​	$	422,565	​	$	409,175
Unamortized deferred financing costs	​	​	(3,414)	​		(3,355)
Unamortized mortgage intangible assets (a)	​	​	(804)	​	​	(658)
Mortgages payable, net	​	$	418,347	​	$	405,162

(a) In connection with the assumption of two below-market mortgages upon the acquisition of the Northwood, Ohio and Blythewood, South Carolina properties (see Note 4).

​

Schedule of principal repayments

Scheduled principal repayments during the years indicated are as follows (amounts in thousands):

​

​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Year Ending December 31,		2024			2025			2026			2027			2028			Thereafter			Total
Amortization payments	​	$	11,873	​	$	10,627	​	$	10,491	​	$	9,399	​	$	8,718	​	$	34,283	​	$	85,391
Principal due at maturity	​		49,906	​		30,850	​		19,179	​		38,524	​		30,155	​		168,560	​		337,174
Total	​	$	61,779	​	$	41,477	​	$	29,670	​	$	47,923	​	$	38,873	​	$	202,843	​	$	422,565

Schedule of line of credit, net

The following table details the Line of credit, net, balances per the consolidated balance sheets (amounts in thousands):

​	​	​	​	​	​	​	​
​	​	December 31,
​	​	2023				2022
Line of credit, gross	​	$	—	​	​	$	21,800
Unamortized deferred financing costs	​	​	—	(a)	​	​	(732)
Line of credit, net	​	$	—	​	​	$	21,068

(a) In accordance with ASU 2015-15, the Company reclassified the $549 balance of unamortized deferred financing costs to other assets and receivables on the consolidated balance sheet at December 31, 2023, as there was no balance outstanding on the Line of credit.

​

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-Name Accounting Standards Codification
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-Topic 470
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