DEBT OBLIGATIONS (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Schedule of Debt Obligations

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

	December 31,
	2020		2019
Mortgages payable	$	130,997	$	134,038
Junior subordinated notes	37,400		37,400
Deferred loan costs	(880)		(1,160)
Total debt obligations	$	167,517	$	170,278

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
2021	$	17,274
2022	62,543
2023	1,270
2024	1,316
2025	16,661
Thereafter	31,933
	$	130,997

Schedule of Outstanding Debt

The Company incurred the following mortgage debt in connection with the purchase of our partner's' interest in the year ended December 31, 2019 (dollars in thousands):

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