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Mortgages and Other Notes Payable
 9 Months Ended
Sep. 30, 2021
Debt Disclosure [Abstract]  
Mortgages and Other Notes Payable Mortgages and Other Notes Payable
The following table summarizes our mortgages and other notes payable as of September 30, 2021 and December 31, 2020:
Carrying value
Property / EntitySeptember 30, 2021December 31, 2020Effective
Interest Rate		Maturity Date
600 Las Colinas(1)$— $35,589 5.30 %11/1/2023
770 South Post Oak11,709 11,871 4.40 %6/1/2025
Parc at Athens(2)1,155 1,155 5.90 %8/28/2022
Chelsea8,077 8,194 3.40 %12/1/2050
EQK Portage - Land3,350 3,350 10.00 %11/13/2024
HSW Partners— 17,790 9.50 %6/17/2021
Forest Grove(3)7,295 7,333 3.75 %5/5/2024
Landing Bayou14,467 14,643 3.50 %9/1/2053
Legacy at Pleasant Grove13,428 13,653 3.60 %4/1/2048
McKinney 36 Land705 820 8.00 %6/30/2022
New Concept Energy3,542 3,542 6.00 %9/30/2022
Overlook at Allensville Phase II(4)— 15,621 3.80 %5/1/2059
Parc at Denham Springs Phase II16,004 16,128 4.10 %2/1/2060
RCM HC Enterprises(5)5,086 — 9.50 %12/17/2026
Stanford Center39,044 39,093 6.00 %2/26/2022
Sugar Mill Phase III9,237 9,298 4.50 %2/1/2060
Toulon13,786 13,975 3.20 %12/1/2051
Villas at Bon Secour(6)19,495 10,280 4.00 %8/25/2028
Vista Ridge9,868 9,979 4.00 %8/1/2053
Windmill Farms(7)8,756 10,397 6.00 %2/28/2023
$185,004 $242,711 
(1)    On August 26, 2021, we paid off the loan in connection with the sale of the underlying property (See 7 - Real Estate Activity).
(2)     On March 2, 2021, the loan was extended to August 28, 2022.
(3)    The loan bears interest at prime rate plus 0.5%.
(4)    On March 30, 2021, the loan was assumed by VAA in connection with our contribution of the underlying property to the joint venture (See Note 9 – Investment in Unconsolidated Joint Ventures).
(5)    On June 4, 2021, the lender assumed the remaining $1,986 balance from our loan from HSW Partners and extended the maturity to December 17, 2026.
(6)    On August 25, 2021, we replaced the existing loan on the property with a new $20,015 loan that bears interest at 3.08% and matures on August 25, 2028.
(7)    On March 4, 2021, the loan was extended to February 28, 2023 at an interest rate of 5%.
Interest payable at September 30, 2021 and December 31, 2020, was $1,328 and $1,212, respectively. We capitalized interest of $3,112 and $267 during the three months ended September 30, 2021 and 2020, respectively, and $7,263 and $852 during the nine months ended September 30, 2021 and 2020, respectively.
As of September 30, 2021, we were in compliance with all of our loan covenants except for the minimum debt service coverage ratio (“DSCR”) for the loan on 770 South Post Oak. As a result, the lender may require us to lock the surplus cash
flow of the property (“Cash Trap”) into a designated deposit account controlled by them, until we are in compliance with the DSCR for a period of two consecutive quarters.