v3.26.1
Mortgage Notes (Tables)
3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Schedule of mortgage notes

The following table details the Company’s mortgage notes as of March 31, 2026 and December 31, 2025 ($ in thousands):

 

 

 

 

 

 

 

 

 

Principal Balance Outstanding

 

Indebtedness

 

Interest Rate

 

 

Maturity Date

 

 

March 31, 2026

 

 

December 31, 2025

 

Fixed rate mortgage notes

 

 

 

 

 

 

 

 

 

 

 

 

Middletown Mortgage Loan

 

 

5.35

%

 

March 1, 2032

 

 

$

85,250

 

 

$

85,250

 

State Farm Portfolio Mortgage Loan

 

 

5.75

%

 

September 1, 2034

 

 

 

109,600

 

 

 

109,600

 

Total loans secured by real estate

 

 

 

 

 

 

 

 

194,850

 

 

 

194,850

 

Deferred financing costs, net

 

 

 

 

 

 

 

 

(826

)

 

 

(850

)

Mortgage notes, net

 

 

 

 

 

 

 

$

194,024

 

 

$

194,000

 

Schedule of future principal payments due under the Company's mortgage notes

The following table details the future principal payments due under the Company’s mortgage notes as of March 31, 2026 ($ in thousands):

 

Year

 

 

 

 

Amount

 

2026 (remaining)

 

 

 

$

 

 

2027

 

 

 

 

 

 

2028

 

 

 

 

 

 

2029

 

 

 

 

 

 

2030

 

 

 

 

 

 

2031

 

 

 

 

 

 

Thereafter

 

 

 

 

 

194,850

 

Total future principal payments

 

 

 

$

 

194,850