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NOTES AND INTEREST PAYABLE

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

NOTES AND INTEREST PAYABLE

NOTE 7. NOTES AND INTEREST PAYABLE

Below is a summary of our notes and interest payable as of June 30, 2019 (dollars in thousands):

		June 30, 2019				December 31, 2018
Apartments		$	94,614			$	94,759
Apartments under Construction			12,507				14,402
Commercial			135,613				136,327
Land			26,896				27,520
Real estate held for sale			10,324				—
Corporate and other notes			21,277				22,527
Total notes payable		$	301,231			$	295,535
Less: unamortized deferred borrowing costs			(9,059	)			(9,428	)
Total outstanding notes payable, net		$	292,172			$	286,107
Accrued Interest			907				861
Total notes payable, net and accrued interest		$	293,079			$	286,968

In conjunction with the development of various apartment projects and land developments, we drew down $12.9 million in construction loans during the six months ended June 30, 2019.

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- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI http://asc.fasb.org/topic&trid=2208564

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