NOTES (Tables) - Notes Payable 2026

3 Months Ended

Mar. 31, 2024

Notes

Schedule of interest expense and deferred financing costs

	For the three months ended
	March 31, 2024			March 31, 2023
Interest expense	$	1,224,750		$	1,218,750
Deferred financing costs		111,374			110,150
Total interest and financing expenses	$	1,336,124		$	1,328,900
Weighted average interest rate		4.9	%		4.9	%
Effective interest rate (including fee amortization)		5.4	%		5.4	%
Average debt outstanding	$	100,000,000		$	100,000,000
Cash paid for interest	$	2,443,500		$	2,437,500

Schedule of notes payable, net of deferred financing costs

	March 31, 2024		December 31, 2023
Notes Payable	$	100,000,000	$	100,000,000
Deferred financing costs		(892,214)		(1,003,588)
Notes Payable, net of deferred financing costs	$	99,107,786	$	98,996,412