| Schedule of Mortgage Loans Outstanding |
The Company had the following mortgage loans outstanding as of June 30, 2026 and December 31, 2025, respectively:
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Occupying Tenant |
Property Location |
Original Loan Amount |
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Interest Rate at 12/31/2025 |
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Maturity Date |
Balance at 06/30/2026 |
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Balance at 12/31/2025 |
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Debt Service Coverage Ratios ("DSCR") Required |
7-Eleven Corporation |
Washington, D.C. |
$ |
750,000 |
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6.50% |
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6/13/2030 |
$ |
1,100,000 |
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$ |
1,100,000 |
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1.50 |
General Services Administration-Navy & AYMCA |
Norfolk, VA |
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8,260,000 |
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6.15% |
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8/30/2029 |
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6,825,292 |
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6,926,665 |
|
1.25 |
PRA Holdings, Inc. |
Norfolk, VA |
|
5,216,749 |
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6.15% |
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8/23/2029 |
|
4,229,570 |
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|
4,291,659 |
|
1.25 |
Sherwin Williams Company |
Tampa, FL |
|
1,286,664 |
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3.72% |
(a) |
8/10/2028 |
|
1,205,324 |
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1,222,259 |
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1.20 |
General Services Administration-FBI |
Manteo, NC |
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928,728 |
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(b) |
3.85% |
(c) |
3/31/2032 |
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895,122 |
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|
866,868 |
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1.50 |
La-Z-Boy Inc. |
Rockford, IL |
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2,100,000 |
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3.85% |
(c) |
3/31/2032 |
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1,932,892 |
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1,960,814 |
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1.50 |
Fresenius Medical Care Holdings, Inc. |
Chicago, IL |
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1,727,108 |
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(b) |
3.85% |
(c) |
3/31/2032 |
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1,664,551 |
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1,612,010 |
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1.50 |
Starbucks Corporation |
Tampa, FL |
|
1,298,047 |
|
(b) |
3.85% |
(c) |
3/31/2032 |
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- |
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1,211,508 |
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1.50 |
Kohl's Corporation |
Tucson, AZ |
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3,964,745 |
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(b) |
3.85% |
(c) |
3/31/2032 |
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3,821,105 |
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3,700,494 |
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1.50 |
City of San Antonio (PreK) |
San Antonio, TX |
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6,444,000 |
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(d) |
7.47% |
(a) |
8/10/2028 |
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6,162,006 |
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6,223,604 |
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1.50 |
Dollar General Market |
Bakersfield, CA |
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2,428,000 |
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(d) |
7.47% |
(a) |
8/10/2028 |
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2,321,749 |
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2,344,958 |
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1.50 |
Dollar General |
Big Spring, TX |
|
635,000 |
|
(d) |
7.47% |
(a) |
8/10/2028 |
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607,212 |
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613,282 |
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1.50 |
Dollar General |
Castalia, OH |
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556,000 |
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(d) |
7.47% |
(a) |
8/10/2028 |
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531,669 |
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536,984 |
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1.50 |
Dollar General |
East Wilton, ME |
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726,000 |
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(d) |
7.47% |
(a) |
8/10/2028 |
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694,230 |
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701,170 |
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1.50 |
Dollar General |
Lakeside, OH |
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567,000 |
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(d) |
7.47% |
(a) |
8/10/2028 |
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542,188 |
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547,608 |
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1.50 |
Dollar General |
Litchfield, ME |
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624,000 |
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(d) |
7.47% |
(a) |
8/10/2028 |
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596,693 |
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602,658 |
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1.50 |
Dollar General |
Mount Gilead, OH |
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533,000 |
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(d) |
7.47% |
(a) |
8/10/2028 |
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509,676 |
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514,770 |
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1.50 |
Dollar General |
Thompsontown, PA |
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556,000 |
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(d) |
7.47% |
(a) |
8/10/2028 |
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531,669 |
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536,984 |
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1.50 |
Dollar Tree Stores, Inc. |
Morrow, GA |
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647,000 |
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(d) |
7.47% |
(a) |
8/10/2028 |
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- |
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624,871 |
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1.50 |
General Services Administration |
Vacaville, CA |
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1,293,000 |
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(d) |
7.47% |
(a) |
8/10/2028 |
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1,236,417 |
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1,248,777 |
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1.50 |
Walgreens |
Santa Maria, CA |
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3,041,000 |
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(d) |
7.47% |
(a) |
8/10/2028 |
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2,907,924 |
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2,936,993 |
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1.50 |
Best Buy Co., Inc. |
Ames, IA |
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2,495,000 |
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6.29% |
(a) |
8/23/2029 |
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2,495,000 |
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2,495,000 |
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1.50 |
Zaxby's |
Sanford, FL |
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2,947,000 |
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6.29% |
(e) |
5/14/2026 |
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2,645,822 |
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2,482,944 |
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1.30 |
Dollar General |
Cleveland, TN |
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1,350,000 |
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3.50% |
(e) |
5/14/2026 |
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1,148,844 |
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1,224,544 |
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1.25 |
Tractor Supply |
Kernersville, NC |
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3,507,000 |
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2.90% |
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10/22/2031 |
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3,149,358 |
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3,184,170 |
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1.20 |
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$ |
53,881,041 |
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$ |
47,754,313 |
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$ |
49,711,594 |
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Less Debt Discount, net |
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(627,836 |
) |
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(701,489 |
) |
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Less Debt Issuance Costs, net |
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(344,800 |
) |
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(319,329 |
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$ |
46,781,677 |
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$ |
48,690,776 |
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(a) Fixed via interest rate swap (b) One loan in the amount of $7.92 million secured by four properties and allocated to each property based on each property's appraised value. (c) Adjustment effective April 1, 2027 equal to 5-year Treasury plus 2.5% and subject to a floor of 3.85% (d) One loan in the amount of $18.05 million secured by twelve properties and allocated to each property at the date of acquisition based on each property's appraised value. (e) Refinanced on May 1, 2026 extending the maturity date to May 1, 2031 with interest accruing at a fixed rate of 5.70%.
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