v3.25.4
NOTES PAYABLE (Tables)
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Line of Credit Facilities
The following is a reconciliation of the carrying amount of the Wells Fargo Line of Credit at December 31, 2025 and 2024:
Balance at
LenderDecember 31, 2025December 31, 2024
Wells Fargo/CIBC$78,300 $75,514 
Deduct: Deferred financing costs, less accumulated amortization(920)(809)
Line of credit, net$77,380 $74,705 
Schedule of Mortgage Loans Payable
The following is a reconciliation of the carrying amount of the mortgage loans payable at December 31, 2025 and 2024.
Balance at
LenderEncumbered PropertyDecember 31, 2025December 31, 2024Interest RateMaturity Date
State Farm Life Insurance CompanyElston Plaza16,107 16,468 3.89 July 1, 2026
Massachusetts Mutual Life Insurance CompanyThe Glenn66,000 66,000 3.02 December 1, 2028
Transamerica Life Insurance CompanyWallingford Plaza6,353 6,485 4.56 January 1, 2029
Nationwide Life Insurance CompanyProvidence Square29,700 29,700 3.67 October 5, 2029
JPMorgan Chase BankSeattle East Industrial45,140 45,140 3.87 January 1, 2030
Nationwide Life Insurance CompanyThe Flats at Carrs Hill25,500 25,500 5.51 July 1, 2030
$188,800 $189,293 
Deduct: Deferred financing costs, less accumulated amortization(508)(665)
Mortgage loans payable, net$188,292 $188,628 
Schedule of Maturities of Long-term Debt
Aggregate future principal payments due on the Wells Fargo Line of Credit and mortgage loans payable as of December 31, 2025 are as follows:
YearAmount
2026$16,246 
2027145 
2028150,369 
202974,840 
203025,500 
Thereafter— 
Total$267,100