Notes Payable (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Mortgage Notes Payable

The following is a summary of the mortgage notes payable, in thousands:

					December 31,
Property/Facility	Payment (1)	Maturity Date	Rate		2019		2018
Richardson Heights (2)	P&I	July 1, 2041	4.61	%	$	17,260	$	17,760
Cooper Street (2)	P&I	July 1, 2041	4.61	%	$	7,435	$	7,632
Bent Tree Green (2)	P&I	July 1, 2041	4.61	%	$	7,435	$	7,632
Mitchelldale (2)	P&I	July 1, 2041	4.61	%	$	11,263	$	11,560
Promenade (3)	P&I				$	—	$	7,102
Hartman SPE LLC	IO	October 9, 2020	3.60	%	$	259,000	$	259,000
Hartman XXI	IO	March 31, 2021	10.00	%	$	4,400	$	—
					$	306,793	$	310,686
Less unamortized deferred loan costs					$	(3,754)	$	(4,779)
					$	303,039	$	305,907

(1) Principal and interest (P&I) or interest only (IO).  

(2) Each promissory note contains a call option wherein the holder of the promissory note may declare the outstanding balance due and payable on either July 1, 2024, July 1, 2029, July 1, 2034, or July 1, 2039.

(3) Hartman SPE LLC loan proceeds for the repayment of the Promenade loan were in escrow as of October 1, 2018. The loan was paid in full with the refinancing proceeds on February 15, 2019.

Annual Maturities of Notes

Annual maturities of notes payable as of December 31, 2019 are as follows, in thousands:

December 31,	Amount Due
2020	$	260,253
2021	5,712
2022	1,374
2023	1,439
2024	1,506
Thereafter	36,509
Total	$	306,793

Amortized Loan Costs

The Company’s loan costs are amortized using the straight-line method over the term of the loans, which approximates the interest method.  Costs which have been deferred consist of the following, in thousands:

	December 31,
	2019		2018
Deferred loan costs	$	7,155	$	7,082
Less:  deferred loan cost accumulated amortization	(3,401)		(2,303)
Total cost, net of accumulated amortization	$	3,754	$	4,779