RELATED PARTY TRANSACTIONS |
12 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Related Party Transactions [Abstract] | |
| RELATED PARTY TRANSACTIONS | NOTE 16 – RELATED PARTY TRANSACTIONS
The Company has an unsecured revolving credit facility with its consolidated subsidiary, Portsmouth Square, Inc. (“Portsmouth”), under which the Company may provide borrowings of up to $40,000,000. The facility bears interest at 9% per annum, may be prepaid without penalty, and had a contractual maturity date of July 31, 2027 as of June 30, 2026. Principal and accrued interest are due at maturity, with no scheduled principal or interest payments required prior to maturity.
During the years ended June 30, 2026 and 2025, the Company advanced $0 and $11,615,000, respectively, to Portsmouth under the facility. The outstanding principal balance was $38,108,000 as of both June 30, 2026 and 2025, with $1,892,000 of remaining borrowing capacity as of June 30, 2026. InterGroup recorded interest income of $3,437,000 and $3,570,000 for the years ended June 30, 2026 and 2025, respectively, before consolidation. In August 2026, the Company and Portsmouth amended the facility to extend the maturity date from July 31, 2027 to July 31, 2029.
Because Portsmouth is a consolidated subsidiary, the intercompany note receivable and payable and the related interest income and expense are eliminated in the Company’s consolidated financial statements.
Certain shared costs and expenses , primarily administrative expenses, rent and insurance, are allocated between InterGroup and Portsmouth based on management’s estimate of relative utilization. For the years ended June 30, 2026 and 2025, such allocations were approximately $0 and $144,000, respectively. These allocations are eliminated in consolidation.
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