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Mortgages and Other Notes Payable (Tables)
9 Months Ended
Sep. 30, 2024
Debt Disclosure [Abstract]  
Schedule of Debt
The following table summarizes our mortgages and other notes payable as of September 30, 2024 and December 31, 2023:
Carrying ValueInterest
Rate
Maturity
Date
Property/ EntitySeptember 30, 2024December 31, 2023
770 South Post Oak$11,002 $11,187 4.40 %6/1/2025
Alera(1)4,148 — 8.20 %3/15/2026
Blue Lake Villas9,371 9,503 3.15 %11/1/2055
Blue Lake Villas Phase II3,291 3,349 2.85 %6/1/2052
Chelsea7,925 8,064 3.40 %12/1/2050
EQK Portage3,350 3,350 5.00 %11/13/2029
Forest Grove(2)6,415 6,988 7.50 %8/1/2031
Landing on Bayou Cane14,233 14,442 3.50 %9/1/2053
Legacy at Pleasant Grove12,466 12,716 3.60 %4/1/2048
New Concept Energy(5)3,542 3,542 5.33 %9/30/2027
Northside on Travis11,193 11,394 2.50 %2/1/2053
Parc at Denham Springs16,137 16,399 3.75 %4/1/2051
Parc at Denham Springs Phase II15,467 15,608 4.05 %2/1/2060
RCM HC Enterprises5,086 5,086 5.00 %12/31/2024
Residences at Holland Lake10,271 10,424 3.60 %3/1/2053
Villas at Bon Secour18,902 19,205 3.08 %9/1/2031
Villas of Park West I(3)9,033 9,181 3.04 %3/1/2053
Villas of Park West II(3)8,203 8,334 3.18 %3/1/2053
Vista Ridge9,386 9,512 4.00 %8/1/2053
Windmill Farms(4)4,393 4,399 7.50 %2/28/2026
$183,814 $182,683 
(1)    On March 15, 2023, we entered into a $33,000 construction loan to finance the development of Alera (See Note 7 - Real Estate Activity) that bears interest at SOFR plus 3% and matures on March 15, 2026, with two one-year extension options.
(2)    On July 10, 2024, we replaced the existing loan on the property with a $6,558 loan that bears interest at SOFR plus 1.85% and matures on August 1, 2031.
(3)     On October 16, 2023, we received approval from the lender to assume the loan on the property that we acquired from our joint venture (See Note 10 - Investment in Unconsolidated Joint Ventures).
(4)    On February 8, 2024, we extended the maturity to February 28, 2026 at an interest rate of 7.50%.
(5)    On June 6, 2024, we extended the maturity of the loan to September 30, 2027 with an interest rate at SOFR.