v3.26.3
MORTGAGE AND MEZZANINE LOANS (Tables)
 12 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
SCHEDULE OF MORTGAGE NOTE PAYABLE

The Company’s mortgage and mezzanine loans are secured by the applicable collateral described above. As of June 30, 2026 and 2025, the loans were as follows:

 

   As of June 30, 2026           
   Number   Note  Note  Mortgage   Interest 
Property  of Units   Origination Date  Maturity Date  Balance   Rate 
                   
SF Hotel   558 rooms   March 2025  April 2027  $67,000,000    Greater of 7.65% or Term SOFR + 4.75%; SOFR capped at 4.50% 
                      
SF Hotel   558 rooms   March 2025  April 2027   36,300,000    7.25% through March 28, 2027; 11.25% thereafter 
                      
        Mortgage notes payable – Hotel      103,300,000      
        Debt issuance costs      (765,000)     
        Total mortgage and mezzanine loans – Hotel     $102,535,000      
                      
Florence   157   December 2024  January 2035  $9,800,000    5.40%
Las Colinas   358   October 2021  November 2031   28,800,000    2.95%
Las Colinas   358   December 2023  November 2031   4,573,000    7.60%
Morris County   151   April 2020  May 2030   15,962,000    3.17%
St. Louis   264   May 2023  May 2028   4,884,000    8.60%
Los Angeles   4   July 2021  July 2051   1,038,000    3.50%
Los Angeles   2   July 2021  July 2051   629,000    3.50%
Los Angeles   1   June 2021  August 2051   827,000    3.50%
Los Angeles   31   October 2020  November 2030   7,708,000    2.52%
Los Angeles   30   June 2022  July 2052   5,449,000    4.40%
Los Angeles   14   January 2021  February 2031   2,458,000    3.05%
Los Angeles   9   June 2020  July 2030   2,265,000    3.09%
Los Angeles   9   November 2020  December 2030   1,756,000    3.05%
Los Angeles   8   July 2021  July 2051   1,434,000    3.50%
Los Angeles   7   August 2012  September 2042   693,000    3.75%
Los Angeles   4   June 2021  August 2051   1,038,000    3.50%
Los Angeles   1   June 2021  August 2051   499,000    3.50%
Los Angeles   4   July 2021  August 2051   748,000    3.50%
Los Angeles   1   September 2018  October 2048   861,000    3.50%
        Mortgage notes payable – real estate      91,422,000      
        Debt issuance costs      (726,000)     
        Total mortgage notes payable – real estate     $90,696,000      

 

 

   As of June 30, 2025           
   Number   Note  Note  Mortgage   Interest 
Property  of Units   Origination Date  Maturity Date  Balance   Rate 
                   
SF Hotel   544 rooms   March 2025  April 2027  $67,000,000     Greater of 7.65% or Term SOFR + 4.75%; SOFR capped at 4.50% 
                      
SF Hotel   544 rooms   March 2025  April 2027   36,300,000    7.25% through March 28, 2027; 11.25% thereafter 
                      
        Mortgage notes payable – Hotel      103,300,000      
        Debt issuance costs      (1,781,000)     
        Total mortgage and mezzanine loans – Hotel     $101,519,000      
                      
Florence   157   December 2024  January 2035  $9,800,000    5.40%
Las Colinas   358   October 2021  November 2031   28,800,000    2.95%
Las Colinas   358   December 2023  November 2031   4,573,000    7.60%
Morris County   151   April 2020  May 2030   16,392,000    3.17%
St. Louis   264   May 2023  May 2028   4,950,000    8.60%
Los Angeles   4   July 2021  July 2051   1,064,000    3.50%
Los Angeles   2   July 2021  July 2051   644,000    3.50%
Los Angeles   1   June 2021  August 2051   847,000    3.50%
Los Angeles   31   October 2020  November 2030   7,907,000    2.52%
Los Angeles   30   June 2022  July 2052   5,558,000    4.40%
Los Angeles   14   January 2021  February 2031   2,522,000    3.05%
Los Angeles   12   June 2016  June 2026   1,863,000    3.59%
Los Angeles   9   June 2020  July 2030   2,326,000    3.09%
Los Angeles   9   November 2020  December 2030   1,803,000    3.05%
Los Angeles   8   July 2021  July 2051   1,469,000    3.50%
Los Angeles   7   August 2012  September 2042   715,000    3.75%
Los Angeles   4   June 2021  August 2051   1,064,000    3.50%
Los Angeles   1   June 2021  August 2051   511,000    3.50%
Los Angeles   4   July 2021  August 2051   766,000    3.50%
Los Angeles   1   September 2018  October 2048   886,000    3.50%
        Mortgage notes payable – real estate      94,460,000      
        Debt issuance costs      (865,000)     
        Total mortgage notes payable – real estate     $93,595,000      
SCHEDULE OF CONTRACTUAL MATURITIES

Contractual maturities as of June 30, 2026 were as follows:

 

 

For the year ending June 30,     
2027  $104,859,000 
2028   6,589,000 
2029   1,846,000 
2030   16,033,000 
2031   13,659,000 
Thereafter   51,736,000 
Contractual debt   $194,722,000