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Commitments and Contingencies
6 Months Ended
Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies

Note 11 – Commitments and Contingencies

 

As of June 30, 2024, we were not subject to any material litigation nor were we aware of any material litigation threatened against us.

 

In connection with the development of our investment at 1000 First Avenue North, St. Petersburg, Florida (“1000 First”) and 1991 Main, we have entered into separate construction management agreements for each asset which contain terms and conditions that are customary for the related scope of work. As of June 30, 2024, we have an aggregate unfunded commitment of $109.1 million under these two development projects. As of June 30, 2024, $24.5 million, inclusive of retainage of $13.7 million, is outstanding and payable in connection with these developments.