NOTES (Tables) - Notes Payable 2026

9 Months Ended

Sep. 30, 2024

Notes

Schedule of interest expense and deferred financing costs

	For the three months ended						For the nine months ended
	September 30, 2024			September 30, 2023			September 30, 2024			September 30, 2023
Interest expense	$	1,218,750		$	1,218,750		$	3,662,250		$	3,662,250
Deferred financing costs		112,598			112,598			335,345			334,122
Total interest and financing expenses	$	1,331,348		$	1,331,348		$	3,997,595		$	3,996,372
Weighted average interest rate		4.8	%		4.8	%		4.9	%		4.9	%
Effective interest rate (including fee amortization)		5.3	%		5.3	%		5.3	%		5.3	%
Average debt outstanding	$	100,000,000		$	100,000,000		$	100,000,000		$	100,000,000
Cash paid for interest	$	2,437,500		$	2,437,500		$	4,881,000		$	4,881,000

Schedule of notes payable, net of deferred financing costs

	September 30, 2024		December 31, 2023
Notes Payable	$	100,000,000	$	100,000,000
Deferred financing costs		(668,243)		(1,003,588)
Notes Payable, net of deferred financing costs	$	99,331,757	$	98,996,412