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Notes Receivable (Tables)
12 Months Ended
Dec. 31, 2022
Receivables [Abstract]  
Schedule of Notes Receivable
The following table summarizes our notes receivables at December 31, 2022 and 2021:
Carrying ValueInterest
Rate
Maturity
Date
Borrower / Project20222021
ABC Land and Development, Inc.$4,408 $4,408 9.50 %6/30/2026
ABC Paradise, LLC1,210 1,210 9.50 %6/30/2026
Autumn Breeze(1)2,326 2,486 5.00 %7/1/2025
Bellwether Ridge(1)3,798 3,967 5.00 %11/1/2026
Forest Pines(1)(4)6,472 6,472 5.00 %11/1/2022
Lake Wales3,000 3,000 9.50 %6/30/2026
Legacy Pleasant Grove496 496 12.00 %10/23/2024
McKinney Ranch3,926 4,554 6.00 %9/15/2024
One Realco Land Holding, Inc.1,728 1,728 9.50 %6/30/2026
Parc at Ingleside(1)3,759 3,700 5.00 %11/1/2026
Parc at Opelika Phase II(1)(4)3,190 2,305 10.00 %1/13/2023
Parc at Windmill Farms(1)(4)7,886 7,830 5.00 %11/1/2022
Phillips Foundation for Better Living, Inc.(2)182 813 12.00 %3/31/2024
Plum Tree(1)1,767 1,537 5.00 %4/26/2026
Riverview on the Park Land, LLC1,045 1,045 9.50 %6/30/2026
Spartan Land5,907 5,907 12.00 %1/16/2025
Spyglass of Ennis(1)(4)5,258 5,319 5.00 %11/1/2022
Steeple Crest(1)6,498 6,498 5.00 %8/1/2026
Unified Housing Foundation(2)(3)2,881 2,881 12.00 %6/30/2023
Unified Housing Foundation(2)(3)212 212 12.00 %6/30/2023
Unified Housing Foundation(2)(3)6,831 6,831 12.00 %6/30/2023
Unified Housing Foundation(2)(3)10,401 10,401 12.00 %6/30/2023
Unified Housing Foundation(2)(3)10,096 10,096 12.00 %3/31/2024
Unified Housing Foundation(2)(3)6,990 6,990 12.00 %3/31/2025
Unified Housing Foundation(2)(3)3,615 3,615 12.00 %5/31/2023
Unified Housing Foundation(2)(3)27,477 24,053 12.00 %12/31/2032
Unified Housing Foundation(2)(3)6,521 6,521 12.00 %3/31/2024
Unified Housing Foundation(2)(3)1,549 1,549 12.00 %4/30/2024
Unified Housing Foundation(2)(3)180 183 12.00 %6/30/2024
$139,609 $136,607 
(1)    The note is convertible, at our option, into a 100% ownership interest in the underlying development property, and is collateralized by the underlying development property.
(2)     The borrower is determined to be a related party due to our significant investment in the performance of the collateral secured by the notes receivable.
(3)    Principal and interest payments on the notes from Unified Housing Foundation, Inc. (“UHF”) are funded from surplus cash flow from operations, sale or refinancing of the underlying properties and are cross collateralized to the extent that any surplus cash available from any of the properties underlying the notes.
(4)    We are working with the borrower to extend the maturity and/or exercise or conversion option.