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Mortgages and Other Notes Payable | 12 Months Ended
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Dec. 31, 2020
Debt Disclosure [Abstract] |
Mortgages and Other Notes Payable | Mortgages and Other Notes Payable Below is a summary of our notes and interest payable as of December 31, 2020 and 2019:
|  | Carrying Value |  | Interest Rate |  | Maturity Date |
Property/ Entity |  | 2020 |  | 2019 |  |  |
600 Las Colinas |  | 35,589 |  |  | 36,302 |  |  | 5.30 | % |  | 11/1/2023 |
770 South Post Oak |  | 11,871 |  |  | 12,077 |  |  | 4.40 | % |  | 6/1/2025 |
Bridge View Plaza(1) |  | — |  |  | 3,824 |  |  | 7.75 | % |  | 11/1/2020 |
Chelsea |  | 8,194 |  |  | 8,749 |  |  | 3.40 | % |  | 12/1/2050 |
EQK Portage - Land(2) |  | 3,350 |  |  | — |  |  | 10.00 | % |  | 11/13/2024 |
HSW Partners(3) |  | 17,790 |  |  | 17,359 |  |  | 9.50 | % |  | 6/17/2021 |
Farnham Park(4) |  | — |  |  | 9,144 |  |  | 3.39 | % |  | 12/1/2050 |
Forest Grove(5) |  | 7,333 |  |  | 1,390 |  |  | 3.75 | % |  | 5/5/2024 |
Landing Bayou |  | 14,643 |  |  | 15,467 |  |  | 3.50 | % |  | 9/1/2053 |
Athens(6) |  | 1,155 |  |  | 1,155 |  |  | 5.90 | % |  | 8/28/2022 |
Legacy at Pleasant Grove |  | 13,653 |  |  | 13,944 |  |  | 3.60 | % |  | 4/1/2048 |
McKinney 36 Land |  | 820 |  |  | 944 |  |  | 8.00 | % |  | 6/30/2022 |
New Concept Energy |  | 3,542 |  |  | 4,000 |  |  | 6.00 | % |  | 9/30/2021 |
Overlook at Allenville Phase II |  | 15,621 |  |  | 15,798 |  |  | 3.80 | % |  | 5/1/2059 |
Parc at Denham Springs Phase II |  | 16,128 |  |  | 14,785 |  |  | 4.10 | % |  | 2/1/2060 |
Stanford Center(7) |  | 39,093 |  |  | 39,255 |  |  | 6.00 | % |  | 2/26/2022 |
Sugar Mill Phase III |  | 9,298 |  |  | 5,908 |  |  | 4.50 | % |  | 2/1/2060 |
Toulon |  | 13,975 |  |  | 14,219 |  |  | 3.20 | % |  | 12/1/2051 |
Villager(8) |  | — |  |  | 556 |  |  | 2.50 | % |  | 3/1/2043 |
Villas at Bon Secour |  | 10,280 |  |  | 11,026 |  |  | 4.00 | % |  | 1/1/2022 |
Vista Ridge |  | 9,979 |  |  | 10,122 |  |  | 4.00 | % |  | 8/1/2053 |
Windmill Farms(9) |  | 10,397 |  |  | 13,830 |  |  | 6.00 | % |  | 2/28/2023 |
|  | 242,711 |  |  | 249,854 |  |  |  |  |  |
(1) On September 14, 2020, we paid off the loan in connection with the sale of the underlining property (See Note 7 – Real Estate Activity). (2) On March 5, 2020, we acquired 49.2 acres of land in Kent, Ohio in exchange for the note payable. (3) On, December 3, 2020, we extended the maturity on the loan to June 17, 2021. (4) On July 16, 2020, the loan was assumed by a third party in connection with the sale of the underlying property (See Note 7 – Real Estate Activity). (5) The loan bears interest at prime rate plus 0.5%. (6) On March 2, 2021, the loan was extended to August 28, 2022. (7) On May 1, 2020, the loan was extended to February 26, 2022. (8) On May 1, 2020, the loan was assumed by a third party in connection to sale of the underlying property (See Note 7 – Real Estate Activity). (9) On March 4, 2021, the loan was extended to February 28, 2023 at an interest of 5%. Interest payable at December 31, 2020 and 2019, was $773 and $844, respectively. We capitalized interest of $858 and $585 during the years ended December 31, 2020 and 2019, respectively. There are various land mortgages, secured by the property, that are in the process of a modification or extension to the original note due to expiration of the loan. We are working with our existing lenders and new lenders to modify, extend the loans before they become due or refinancing the loans with terms that are similar to the existing agreement. As of December 31, 2020, we were in compliance with all our loan covenants. Future principal payments due on our notes payable at December 31, 2020 are as follows:
Year |  | Amount
2021 |  | $ | 14,079 |
2022 |  | 14,403 |
2023 |  | 37,690 |
2024 |  | 2,575 |
2025 |  | 12,927 |
Thereafter |  | 166,222 |
|  | 247,896 |
Deferred finance cost |  | (5,185) |
|  | $ | 242,711 |

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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 + Details
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