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Loans Payable, net (Tables) | 9 Months Ended
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Sep. 30, 2024
Debt Disclosure [Abstract] |
Schedule of debt obligations | The Company's loans payable are collateralized by 13 properties and are composed of the following:
|  |  |  | September 30, 2024
Description |  | Maturity dates |  | Balance outstanding |  | Contractual interest rates weighted average
Fixed-rate secured term loans: |  |  |  |  |  |
Timpany Plaza |  | Sep 2028 |  | $ | 11,560,000 |  |  | 7.3%
Term loan, 10 properties |  | Nov 2032 |  | 110,000,000 |  |  | 5.3%
Patuxent Crossing/Coliseum Marketplace |  | Jan 2033 |  | 25,000,000 |  |  | 6.4%
|  |  |  | 146,560,000 |  |  | 5.6%
Unamortized issuance costs |  |  |  | (3,248,000) |  |  |
Total loans payable, net |  |  |  | $ | 143,312,000 |  |  |
Schedule of scheduled principal payments on secured term loans | Scheduled principal payments on indebtedness at September 30, 2024 are as follows:
For the remaining three months ending December 31, 2024 |  |  |  |  |  | $ | 33,000 |  |  |
2025 |  |  |  |  |  | 112,000 |  |  |
2026 |  |  |  |  |  | 121,000 |  |  |
2027 |  |  |  |  |  | 256,000 |  |  |
2028 |  |  |  |  |  | 12,624,000 |  |  |
2029 |  |  |  |  |  | 1,556,000 |  |  |
Thereafter |  |  |  |  |  | 131,858,000 |  |  |
|  |  |  |  |  | $ | 146,560,000 |  |  |

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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- Definition Tabular disclosure of maturity and sinking fund requirement for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 470 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-1 + Details
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