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Notes Payable (Tables) | 3 Months Ended
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Mar. 31, 2024
Debt Disclosure [Abstract] |
Schedule of Notes Payable | Notes payable consisted of the following as of March 31, 2024 and December 31, 2023 (in thousands):
Notes Payable |  | March 31, 2024 |  | December 31, 2023 |  | Weighted Average Interest Rate (1) |  | Maturity Date (1)
Corporate notes |  | $ | 35,392 |  |  | $ | 36,442 |  |  | 11.40 | % |  | January 2024 - March 2025
Convertible corporate notes |  | 1,324 |  |  | 1,324 |  |  | 8.25 | % |  | April 2024
Real estate and other loans |  | 16,454 |  |  | 16,252 |  |  | 5.61 | % |  | August 2024 - November 2029
Total notes payable |  | 53,170 |  |  | 54,018 |  |  |  |  |
Deferred financing costs, net |  | (218) |  |  | (219) |  |  |  |  |
Total notes payable, net |  | $ | 52,952 |  |  | $ | 53,799 |  |  |  |  |
__________________________________ (1) As of March 31, 2024. Notes payable of the consolidated funds consisted of the following as of March 31, 2024 and December 31, 2023, respectively (in thousands):
Notes Payable |  | March 31, 2024 |  | December 31, 2023 |  | Interest Rate (1) |  | Maturity date (1) |
Real Estate Loans |  |  |  |  |  |  |  |  |
Hampton Inn & Suites Hotel |  | $ | — |  | (3) | $ | 5,939 |  |  | N/A |  | N/A |
Four Points by Sheraton Hotel (2) |  | 10,700 |  |  | 11,000 |  |  | 18.00% |  | September 2023 |
Holiday Inn Ocotillo Hotel |  | — |  | (3) | 9,250 |  |  | N/A |  | N/A |
Airport Hotel Portfolio |  | — |  | (3) | 55,631 |  |  | N/A |  | N/A |
DoubleTree by Hilton Tucson Convention Center |  | 18,306 |  |  | 18,418 |  |  | 4.22% |  | August 2027 |
Hilton Tucson East |  | — |  | (3) | 11,901 |  |  | N/A |  | N/A |
DT Mesa Holdco II, LLC |  | 3,000 |  |  | 3,000 |  |  | 7.28% |  | May 2024 |
Southpointe Fundco, LLC |  | 1,050 |  |  | 1,050 |  |  | 11.99% |  | September 2024 |
West Frontier Holdco, LLC |  | 4,636 |  |  | 4,636 |  |  | 6.35% |  | February 2038 |
Total Real Estate Loans |  | 37,692 |  |  | 120,825 |  |  |  |  |  |
Revolving line of credit |  | 4,500 |  |  | 4,500 |  |  | 8.75% |  | October 2024 |
Member notes |  | 5,600 |  |  | 5,600 |  |  | 10.00% |  | June 2025 |
Economic injury disaster and other loans |  | 150 |  |  | 475 |  |  | 3.75% |  | June 2050 |
Total notes payable |  | 47,942 |  |  | 131,400 |  |  |  |  |  |
Deferred financing costs, net |  | (288) |  |  | (1,716) |  |  |  |  |  |
Total notes payable, net |  | $ | 47,654 |  |  | $ | 129,684 |  |  |  |  |  |
__________________________________ (1) As of March 31, 2024. (2) During the year ended December 31, 2023, the hotel ceased operations as the consolidated fund is converting the property into a multi-family residential asset. (3) During the three months ended March 31, 2024, the Company deconsolidated Caliber Hospitality, LP and the Caliber Hospitality Trust, which included activity from six hospitality funds.
Schedule of Maturities of Long-Term Debt | The following table summarizes the scheduled principal repayments of our indebtedness as of March 31, 2024 (in thousands):
Year |  | Amount
April 1, 2024 - December 31, 2024 |  | $ | 23,106 |
2025 |  | 14,421 |
2026 |  | 304 |
2027 |  | 317 |
2028 |  | 330 |
Thereafter |  | 14,692 |
Total |  | $ | 53,170 |
As of March 31, 2024, the future aggregate principal repayments due on the Company’s notes payable are as follows (in thousands):
Year |  | Amount
April 1, 2024 - December 31, 2024 |  | $ | 19,594 |
2025 |  | 6,119 |
2026 |  | 555 |
2027 |  | 17,046 |
2028 |  | 66 |
Thereafter |  | 4,562 |
Total |  | $ | 47,942 |

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