v3.22.2.2
MORTGAGE NOTES PAYABLE (Tables)
 12 Months Ended
Jun. 30, 2022
Debt Disclosure [Abstract]  
SCHEDULE OF MORTGAGES

As of June 30, 2022 and 2021, the Company had the following mortgages:

 

June 30, 2022   June 30, 2021   Interest Rate  Origination Date  Maturity Date
$89,114,000   $90,745,000   Fixed 5.28%  December 18, 2013  January 1, 2024
 20,000,000    20,000,000   Fixed 7.25%  July 31, 2019  January 1, 2024
 109,114,000    110,745,000   Mortgage notes payable - hotel      
 (367,000)   (611,000)  Net debt issuance costs      
$108,747,000   $110,134,000   Total mortgage notes payable - hotel      
SCHEDULE OF MORTGAGE NOTES PAYABLE FUTURE MINIMUM PRINCIPLE PAYMENTS

Future minimum principal payments for mortgage notes payable are as follows:

 

For the year ending June 30,    
2023  $1,721,000 
2024   107,393,000 
  $109,114,000