v3.26.1
Debt (Tables)
3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Schedule of Company's Outstanding Debt

The Company’s outstanding debt is summarized as follows:

Loan

 

March 31, 2026

 

 

December 31, 2025

 

 

Interest
Rate

 

Maturity
Date

Freddie Mac Utah Loans (1)

 

$

42,458,255

 

 

$

42,679,589

 

 

5.06%

 

2/23/2028

Freddie Mac Courtyard Loan (2)

 

 

59,794,860

 

 

 

60,067,661

 

 

4.86%

 

9/1/2028

Debt issuance costs, net

 

 

(305,645

)

 

 

(341,170

)

 

 

 

 

Debt, net

 

 

101,947,470

 

 

 

102,406,080

 

 

 

 

 

 

(1)
Represents the aggregate of three separate mortgage loans for the three senior housing properties acquired in Utah. Fixed rate debt with interest only payments due monthly for the first two years, then principal and interest on a 30-year amortization schedule beginning March 2020.
(2)
Fixed rate debt with interest only payments due monthly for the first four years, then principal and interest on a 30-year amortization schedule beginning September 2022.
Future Principal Payment Requirements on Outstanding Secured Debt

The following table presents the future principal payment requirements on outstanding debt as of March 31, 2026:

 

2026

 

$

1,458,080

 

 

2027

 

 

2,052,475

 

 

2028

 

 

98,742,560

 

 

Total payments

 

 

102,253,115

 

 

Debt issuance costs, net

 

 

(305,645

)

 

Total

 

$

101,947,470