| Schedule of indebtedness outstanding |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Book | | | | | Annual | | | | | | | | | | | | | | Value of | ($ in thousands) | | Interest | | | | | | Principal | | | | Collateral | | | | | Rate as of | | | | Next | | Outstanding as of | | | | as of | | | Interest | | June 30, | | Interest Rate | | Adjustment | | June 30, | | December 31, | | Maturity | | June 30, | Loan | | Payment Terms | | 2026 | | Terms | | Date | | 2026 | | 2025 | | Date | | 2026 | Farmer Mac Facility | | Monthly | | 4.92% | | SOFR + 1.30% | | N/A | | $ | 63,200 | | $ | — | | December 2028 | | | 107,067 | MetLife Term Loan #1 | | Semi-annual | | 5.49% | | Fixed for 3 years | | February 2029 | | | 67,086 | | | 67,086 | | February 2036 | | | 90,502 | MetLife Term Loan #4 | | Semi-annual | | 5.58% | | Fixed for 3 years | | N/A | | | 1,200 | | | 1,200 | | June 2027 | | | 2,695 | MetLife Term Loan #5 | | Semi-annual | | 5.19% | | Fixed for 3 years | | N/A | | | 1,827 | | | 1,827 | | January 2027 | | | 5,370 | MetLife Term Loan #6 | | Semi-annual | | 5.18% | | Fixed for 3 years | | N/A | | | 16,226 | | | 16,226 | | February 2027 | | | 26,242 | MetLife Term Loan #7 | | Semi-annual | | 5.38% | | Fixed for 3 years | | N/A | | | 6,934 | | | 6,934 | | June 2027 | | | 12,133 | MetLife Term Loan #8 | | Semi-annual | | 4.12% | | Fixed for 10 years | | December 2027 | | | 35,200 | | | 35,200 | | December 2042 | | | 110,042 | MetLife Term Loan #9 | | Semi-annual | | 6.37% | | Fixed for 3 years | | May 2027 | | | 6,400 | | | 6,400 | | May 2028 | | | 12,413 | MetLife Term Loan #10 | | Semi-annual | | 6.36% | | Fixed | | N/A | | | 21,806 | | | 21,806 | | October 2030 | | | 35,766 | MetLife Facility | | Quarterly | | 5.66% | | SOFR + 1.95% | | N/A | | | — | | | — | | October 2027 | | | 70,819 | Rabobank (1) | | Semi-annual | | 5.43% | | SOFR + 1.81% | | N/A | | | 4,912 | | | 4,912 | | March 2028 | | | 8,633 | Rutledge Facility | | Quarterly | | 5.09% | | SOFR + 1.40% | | N/A | | | — | | | — | | February 2027 | | | 126,876 | Total outstanding principal | | | | | | | | | | | 224,791 | | | 161,591 | | | | $ | 608,558 | Debt issuance costs | | | | | | | | | | | (906) | | | (749) | | | | | | Unamortized premium | | | | | | | | | | | — | | | — | | | | | | Total mortgage notes and bonds payable, net | | | | | | | | $ | 223,885 | | $ | 160,842 | | | | | |
| (1) | The Company had an interest rate swap agreement with Rabobank for $4.9 million. The agreement expired on March 1, 2026 (see “Note 10—Hedge Accounting”). |
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| Schedule of aggregate maturities of long-term debt |
| | | | | | | | | | | | | ($ in thousands) | | | | | | | | | | | | | Year Ending December 31, | | Future Maturities | | 2026 (remaining six months) | | | | | | | | | | $ | — | | 2027 | | | | | | | | | | | 26,187 | | 2028 | | | | | | | | | | | 74,512 | | 2029 | | | | | | | | | | | — | | 2030 | | | | | | | | | | | 21,806 | | Thereafter | | | | | | | | | | | 102,286 | | | | | | | | | | | | $ | 224,791 | |
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