v3.22.4
Mortgages Payable (Tables)
12 Months Ended
Dec. 31, 2022
Notes Payable, Noncurrent [Abstract]  
Schedule of Long-term Debt Instruments

The following table outlines the mortgages payable included in NNN’s consolidated financial statements (dollars in thousands):

 

 

 

Initial

 

 

Interest

 

 

Maturity

 

Carrying Value of
Encumbered

 

 

Outstanding Principal
Balance at December 31,

 

Entered

 

Balance

 

 

Rate

 

 

Date(2)

 

Asset(s)(3)

 

 

2022

 

 

2021

 

November 2014(1)

 

$

15,151

 

 

 

5.23

%

 

July 2023

 

$

18,485

 

 

$

9,969

 

 

$

10,719

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Debt costs

 

 

 

 

 

 

 

 

 

 

 

 

 

(147

)

 

 

(147

)

Accumulated amortization

 

 

 

 

 

 

 

 

 

 

 

 

 

142

 

 

 

125

 

Debt costs, net of accumulated amortization

 

 

 

 

 

(5

)

 

 

(22

)

Mortgages payable, including unamortized premium and net of
      unamortized debt costs

 

 

 

 

$

9,964

 

 

$

10,697

 

 

(1)
Date entered represents the date that NNN acquired real estate subject to a mortgage securing a loan. Initial balance and outstanding principal balance includes unamortized premium.
(2)
Monthly payments include interest and principal; the balance is due at maturity.
(3)
The loan is secured by a first mortgage lien on five of the Properties.