v3.25.2
Derivative Instruments (Tables)
6 Months Ended
Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Financial Instruments

The following table summarizes the terms of our derivative financial instruments as of June 30, 2024:

Interest Rate Derivative:

 

Notional Amount

 

 

Strike

 

Effective Date

 

Maturity Date

 

SOFR Cap - Fayetteville Mortgage Loan

 

$

34,500,000

 

 

4.25%

 

4/10/2024

 

4/10/2025

(1)

(1)
We elected not to apply hedge accounting and the derivative was terminated in conjunction with the sale of the Fayetteville Property and repayment of the Fayetteville Mortgage Loan.
Schedule of Derivative Financial Instruments Consolidated Statements of Operations - Discontinued Operations

The following table presents the effects of our derivative financial instruments on our consolidated statements of operations - discontinued operations for the periods presented:

 

 

 

Gain recognized in consolidated statements of operations for the three months ended June 30,

 

 

Location of amounts in the statements of operations

 

Gain recognized in consolidated statements of operations for the six months ended June 30,

 

Type

 

2025

 

 

2024

 

 

 

 

2025

 

 

2024

 

Interest Rate Cap

 

$

-

 

 

$

84,063

 

 

Interest Expense

 

$

-

 

 

$

84,063