Mortgages Loans, Construction Loan, Delayed Draw Term Loan and Interest Rate Swaps (Tables)

9 Months Ended

Sep. 30, 2022

Mortgages Loans, Construction Loan, Delayed Draw Term Loan and Interest Rate Swaps

Schedule of mortgage and construction loans

Mortgage loans:	September 30, 2022		December 31, 2021
3.97%, due September 1, 2027	$	10,984	$	11,174
4.57%, due February 1, 2028 *		16,789		17,145
3.60%, due January 2, 2030 *		6,051		6,182
3.48%, due February 1, 2030		13,982		14,287
3.50%, due July 1, 2030 *		4,813		4,914
4.33%, due August 1, 2030		15,573		15,867
4.51%, due April 1, 2034		13,098		13,356
4.39%, due January 2, 2025 *		—		17,824
4.17%, due May 1, 2026 *		—		12,291
3.79%, due November 17, 2026 *		—		23,152
4.39%, due August 1, 2027 *		—		9,476
Mortgage loans		81,290		145,668
Debt issuance costs		(1,118)		(1,745)
Mortgage loans, net of debt issuance costs		80,172		143,923
Construction loan:
One-month LIBOR plus 1.40%, due May 7, 2023		—		26,273
Debt issuance costs		—		(378)
Construction loan, net of debt issuance costs		—		25,895
Mortgage loans and construction loan, net of debt issuance costs	$	80,172	$	169,818

*Variable rate loans for which INDUS entered into interest rate swap agreements to effectively fix the interest rates on these loans to the rates reflected above.

Schedule of notional and fair value of our interest rate swaps

							Fair Value of Interest Rate
			LIBOR	SOFR	Current Notional Value		Derivative Assets/(Liabilities)
Effective	Maturity		Interest	Interest	September 30,	December 31,	September 30,	December 31,
Date	Date		Strike Rate	Strike Rate	2022	2021	2022	2021
July 1, 2022	April 21, 2027		n/a	2.933%	$ 60,000	$ -	$ 5,148	$ -
March 15, 2017	March 1, 2027	(a)	2.501%	n/a	10,375	10,621	569	(641)
February 1, 2018	February 1, 2028	(a)	2.782%	n/a	6,414	6,524	363	(641)
January 2, 2020	January 1, 2030		1.849%	n/a	6,051	6,182	658	(219)
July 1, 2020	July 1, 2030		0.942%	n/a	4,813	4,914	835	188
September 1, 2013	September 1, 2023	(b)	2.840%	n/a	-	7,204	-	(249)
January 1, 2015	January 1, 2025	(b)	2.260%	n/a	-	9,068	-	(390)
January 1, 2016	January 1, 2025	(b)	1.932%	n/a	-	1,552	-	(40)
September 1, 2015	September 1, 2025	(c)	2.118%	n/a	-	9,608	-	(334)
December 10, 2015	September 1, 2025	(c)	2.015%	n/a	-	2,185	-	(68)
November 17, 2016	November 17, 2026	(c)	2.085%	n/a	-	11,359	-	(518)
May 3, 2016	May 1, 2026		1.910%	n/a	-	12,291	-	(369)
July 14, 2017	August 1, 2027		4.390%	n/a	-	9,476	-	(526)
					$ 87,653	$ 90,984	$ 7,573	($ 3,807)
(a) (b) and (c) represent multiple interest rate swap agreements against a single mortgage