DEBT OBLIGATIONS (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Schedule of Debt Obligations

Debt obligations consist of the following (dollars in thousands):

	December 31,
	2019		2018
Mortgages payable	$	134,038	$	139,040
Junior subordinated notes	37,400		37,400
Deferred loan costs	(1,160)		(1,451)
Total debt obligations	$	170,278	$	174,989

Schedule of Maturities of Long-term Debt

Scheduled principal repayments for the next five years and thereafter are as follows (dollars in thousands):

Year Ending December 31,	Scheduled Principal Payments
2020	$	3,040
2021	17,274
2022	62,545
2023	1,270
2024	1,316
Thereafter	48,593
	$	134,038

Schedule of Outstanding Debt

The Company incurred the following mortgage debt in connection with the purchase of our partners' interests in the years ended December 31 (dollars in thousands):

2019

Location	Acquisition Date	Mortgage balance at acquisition		Interest Rate		Maturity Date
San Marcos, TX	10/4/2019	$	17,158	4.42	%	October 2025

2018

Location	Acquisition Date	Mortgage balance at acquisition		Interest Rate	Maturity Date
Fredricksburg, VA	5/29/2018	26,755		3.68%	February 2027
Fredricksburg, VA - supplemental	5/29/2018	2,208		4.84%	February 2027
Houston, TX	12/21/2018	11,216		4.07%	August 2021
Houston, TX - supplemental	12/21/2018	3,708		4.94%	August 2021
		$	43,887