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NOTES AND INTEREST PAYABLE (Tables) | 12 Months Ended
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Dec. 31, 2019
Debt Disclosure [Abstract] |
Schedule of notes and interest payable | Below is a summary of our notes and interest payable as of December 31, 2019 and 2018 (dollars in thousands):
|  | December 31, |
|  | 2019 |  |  | 2018 |
Apartments |  | $ | 120,024 |  |  | $ | 94,759 |
Apartments under Construction |  |  | 9,017 |  |  |  | 14,402 |
Commercial |  |  | 92,838 |  |  |  | 136,327 |
Land |  |  | 19,128 |  |  |  | 27,520 |
Corporate and other notes |  |  | 20,429 |  |  |  | 22,527 |
Total notes payable |  | $ | 261,436 |  |  | $ | 295,535 |
Less: unamortized deferred borrowing costs |  |  | (7,342 | ) |  |  | (9,428 | )
Total outstanding notes payable, net |  | $ | 254,094 |  |  | $ | 286,107 |
Accrued Interest |  |  | 779 |  |  |  | 861 |
Total notes payable, net and accrued interest |  | $ | 254,873 |  |  | $ | 286,968
Schedule of the principal payments on the notes payable | The following table summarizes our contractual obligations for principal payments as of December 31, 2019 (dollars in thousands):
Year |  | Amount |
2020 |  | $ | 34,304 |
2021 |  |  | 55,393 |
2022 |  |  | 13,437 |
2023 |  |  | 36,770 |
2024 |  |  | 1,995 |
Thereafter |  |  | 119,537 |
Total |  | $ | 261,436

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- Definition Tabular disclosure of contractual obligation by timing of payment due. Includes, but is not limited to, long-term debt obligation, lease obligation, and purchase obligation. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 303 -Paragraph (a) -Subparagraph (5) + Details
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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. + Details
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