XML 26 R17.htm IDEA: XBRL DOCUMENT
v3.21.1

Mortgages and Notes Payable | 3 Months Ended
--- | ---
Mar. 31, 2021
Debt Disclosure [Abstract] |
Mortgages and Notes Payable | Mortgages and Other Notes Payable The following table summarizes our mortgages and other notes payable as of March 31, 2021 and December 31, 2020:
|  | Carrying value |  |  |  |
Property / Entity |  | March 31, 2021 |  | December 31, 2020 |  | Effective Interest Rate |  | Maturity Date
600 Las Colinas |  | 35,396 |  |  | 35,589 |  |  | 5.30 | % |  | 11/1/2023
770 South Post Oak |  | 11,816 |  |  | 11,871 |  |  | 4.40 | % |  | 6/1/2025
Athens(1) |  | 1,155 |  |  | 1,155 |  |  | 5.90 | % |  | 8/28/2022
Chelsea |  | 8,154 |  |  | 8,194 |  |  | 3.40 | % |  | 12/1/2050
EQK Portage - Land |  | 3,350 |  |  | 3,350 |  |  | 10.00 | % |  | 11/13/2024
HSW Partners |  | 17,802 |  |  | 17,790 |  |  | 9.50 | % |  | 6/17/2021
Forest Grove(2) |  | 7,333 |  |  | 7,333 |  |  | 3.75 | % |  | 5/5/2024
Landing Bayou |  | 14,584 |  |  | 14,643 |  |  | 3.50 | % |  | 9/1/2053
Legacy at Pleasant Grove |  | 13,579 |  |  | 13,653 |  |  | 3.60 | % |  | 4/1/2048
McKinney 36 Land |  | 783 |  |  | 820 |  |  | 8.00 | % |  | 6/30/2022
New Concept Energy |  | 3,542 |  |  | 3,542 |  |  | 6.00 | % |  | 9/30/2021
Overlook at Allensville Phase II(3) |  | — |  |  | 15,621 |  |  | 3.80 | % |  | 5/1/2059
Parc at Denham Springs Phase II |  | 16,087 |  |  | 16,128 |  |  | 4.10 | % |  | 2/1/2060
Stanford Center |  | 39,125 |  |  | 39,093 |  |  | 6.00 | % |  | 2/26/2022
Sugar Mill Phase III |  | 9,278 |  |  | 9,298 |  |  | 4.50 | % |  | 2/1/2060
Toulon |  | 13,914 |  |  | 13,975 |  |  | 3.20 | % |  | 12/1/2051
Villas at Bon Secour |  | 10,226 |  |  | 10,280 |  |  | 4.00 | % |  | 1/1/2022
Vista Ridge |  | 9,942 |  |  | 9,979 |  |  | 4.00 | % |  | 8/1/2053
Windmill Farms(4) |  | 8,751 |  |  | 10,397 |  |  | 6.00 | % |  | 2/28/2023
|  | $ | 224,817 |  |  | $ | 242,711 |  |  |  |  |
(1) On March 2, 2021, the loan was extended to August 28, 2022. (2) The loan bears interest at prime rate plus 0.5%March 31, 2021 and December 31, 2020. (3) On March 30, 2021, the loan was assumed by VAA in connection with our contribution of of the underlying property to the joint venture (See Note 9 – Investment in Unconsolidated Joint Ventures). (4) On March 4, 2021, the loan was extended to February 28, 2023 at an interest of 5%. Interest payable at March 31, 2021 and December 31, 2020, was $1,169 and $1,123, respectively. We capitalized interest of $858 and $585 during the years ended March 31, 2021 and 2020, 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 March 31, 2021, we were in compliance with all our loan covenants.

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_DebtDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration