v3.25.1
Mortgage Notes Payable (Tables)
3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
Summary of Company's Mortgage Notes Payable

The following table sets forth a summary of the Company’s mortgage notes payable (in thousands):

 

 

 

 

 

 

Principal

 

 

Principal

 

 

 

 

 

 

 

 

Outstanding as of

 

 

Outstanding as of

 

 

 

Loan

 

Interest Rate

 

 

March 31, 2025

 

 

December 31, 2024

 

 

Maturity

Allstate Life Insurance Company

 

 

4.00

%

 

 

33,723

 

 

 

33,945

 

 

5/1/2025

United States Life Insurance Company

 

 

3.82

%

 

 

39,000

 

 

 

39,000

 

 

1/1/2028

United States Life Insurance Company

 

 

4.25

%

 

 

31,913

 

 

 

32,059

 

 

4/1/2028

Transamerica Life Insurance Company

 

 

3.45

%

 

 

7,750

 

 

 

7,809

 

 

4/1/2030

American General Life Insurance Company

 

 

6.12

%

 

 

123,628

 

 

 

124,009

 

 

4/1/2031

American International Group 2022

 

 

4.63

%

 

 

225,000

 

 

 

225,000

 

 

9/1/2032

Transamerica Life Insurance Company 2023

 

 

5.40

%

 

 

25,000

 

 

 

25,000

 

 

8/1/2033

 

 

Subtotal

 

 

 

486,014

 

 

 

486,822

 

 

 

 

 

Unamortized loan costs

 

 

 

(11,914

)

 

 

(11,650

)

 

 

 

 

Total

 

 

$

474,100

 

 

$

475,172

 

 

 

Scheduled of Principal Repayments scheduled principal repayments for the remainder of 2025, the next five years and thereafter are as follows (in thousands):

Remainder of 2025

$

35,533

 

2026

 

2,641

 

2027

 

3,019

 

2028

 

71,697

 

2029

 

2,656

 

2030

 

9,073

 

Thereafter

 

361,395

 

Total

$

486,014