Mortgages and Other Notes Payable

12 Months Ended

Dec. 31, 2020

Below is a summary of our notes and interest payable as of December 31, 2020 and 2019:


	Carrying Value		Interest Rate		Maturity Date
Property/ Entity	2020	2019
600 Las Colinas	35,589	36,302	5.30	%	11/1/2023
770 South Post Oak	11,871	12,077	4.40	%	6/1/2025
Bridge View Plaza(1)	—	3,824	7.75	%	11/1/2020
Chelsea	8,194	8,749	3.40	%	12/1/2050
EQK Portage - Land(2)	3,350	—	10.00	%	11/13/2024
HSW Partners(3)	17,790	17,359	9.50	%	6/17/2021
Farnham Park(4)	—	9,144	3.39	%	12/1/2050
Forest Grove(5)	7,333	1,390	3.75	%	5/5/2024
Landing Bayou	14,643	15,467	3.50	%	9/1/2053
Athens(6)	1,155	1,155	5.90	%	8/28/2022
Legacy at Pleasant Grove	13,653	13,944	3.60	%	4/1/2048
McKinney 36 Land	820	944	8.00	%	6/30/2022
New Concept Energy	3,542	4,000	6.00	%	9/30/2021
Overlook at Allenville Phase II	15,621	15,798	3.80	%	5/1/2059
Parc at Denham Springs Phase II	16,128	14,785	4.10	%	2/1/2060
Stanford Center(7)	39,093	39,255	6.00	%	2/26/2022
Sugar Mill Phase III	9,298	5,908	4.50	%	2/1/2060
Toulon	13,975	14,219	3.20	%	12/1/2051
Villager(8)	—	556	2.50	%	3/1/2043
Villas at Bon Secour	10,280	11,026	4.00	%	1/1/2022
Vista Ridge	9,979	10,122	4.00	%	8/1/2053
Windmill Farms(9)	10,397	13,830	6.00	%	2/28/2023
	242,711	249,854

(1) On September 14, 2020, we paid off the loan in connection with the sale of the underlining property (See Note 7 – Real Estate Activity).

(2) On March 5, 2020, we acquired 49.2 acres of land in Kent, Ohio in exchange for the note payable.

(3) On, December 3, 2020, we extended the maturity on the loan to June 17, 2021.

(4) On July 16, 2020, the loan was assumed by a third party in connection with the sale of the underlying property (See Note 7 – Real Estate Activity).

(5) The loan bears interest at prime rate plus 0.5%.

(6) On March 2, 2021, the loan was extended to August 28, 2022.

(7) On May 1, 2020, the loan was extended to February 26, 2022.

(8) On May 1, 2020, the loan was assumed by a third party in connection to sale of the underlying property (See Note 7 – Real Estate Activity).

(9) On March 4, 2021, the loan was extended to February 28, 2023 at an interest of 5%.

Interest payable at December 31, 2020 and 2019, was $773 and $844, respectively. We capitalized interest of $858 and $585 during the years ended December 31, 2020 and 2019, respectively.

There are various land mortgages, secured by the property, that are in the process of a modification or extension to the original note due to expiration of the loan. We are working with our existing lenders and new lenders to modify, extend the loans before they become due or refinancing the loans with terms that are similar to the existing agreement.

As of December 31, 2020, we were in compliance with all our loan covenants.

Future principal payments due on our notes payable at December 31, 2020 are as follows:


Year	Amount
2021	$	14,079
2022	14,403
2023	37,690
2024	2,575
2025	12,927
Thereafter	166,222
	247,896
Deferred finance cost	(5,185)
	$	242,711