v3.26.1
NOTES PAYABLE (Tables)
 3 Months Ended
Mar. 31, 2026
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 March 31, 2026 and December 31, 2025.
Balance at
LenderMarch 31, 2026December 31, 2025
Wells Fargo/CIBC$64,250 $78,300 
Deduct: Deferred financing costs, less accumulated amortization(819)(920)
Line of credit, net$63,431 $77,380 
Schedule of Mortgage Loans Payable The following is a reconciliation of the carrying amount of the mortgage loans payable at March 31, 2026 and December 31, 2025.
Balance at
LenderEncumbered PropertyMarch 31, 2026December 31, 2025Interest RateMaturity Date
State Farm Life Insurance Company¹Elston Plaza$— $16,107 3.89 %July 1, 2026
Massachusetts Mutual Life Insurance CompanyThe Glenn66,000 66,000 3.02 December 1, 2028
Transamerica Life Insurance CompanyWallingford Plaza6,318 6,353 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
$172,658 $188,800 
Deduct: Deferred financing costs, less accumulated amortization(461)(508)
Mortgage loans payable, net$172,197 $188,292 

¹On March 17, 2026, the Company sold Elston Plaza. The sales proceeds were used to fully repay the outstanding balance of the State Farm Life Insurance Company loan and reduce the outstanding balance under the Wells Fargo Line of Credit.
Schedule of Aggregate Future Principal Payments
Aggregate future principal payments due on the Wells Fargo Line of Credit and mortgage loans payable as of March 31, 2026 are as follows:
YearAmount
2026 (remainder)$105 
2027145 
2028136,318 
202974,840 
203025,500 
Thereafter— 
Total$236,908