XML 26 R19.htm IDEA: XBRL DOCUMENT v3.25.3
Subsequent Events
9 Months Ended
Sep. 30, 2025
Subsequent Events [Abstract]  
Subsequent Events

Note 11 – Subsequent Events

 

The Company has evaluated subsequent events through the date that the consolidated financial statements are issued.

 

Brown Family Enterprises Loan

As discussed in Note 9 above, on October 27, 2025, the Company entered into an amendment to its $1.0 million secured promissory note with Brown Family Enterprises, LLC, extending the maturity date to December 15, 2025 and providing for a $20,000 extension fee.

 

Valley National Bank Loan

As discussed on Note 8 above, on November 10, 2025, the Company satisfied all conditions required under the June 13, 2025 loan agreement with Valley National Bank for the release of the remaining $350,000 renewal funds related to the 7-Eleven-occupied property located at 3707-3711 14th Street NW, Washington, D.C. The funds were disbursed and received by the Company on that date in accordance with the terms of the loan agreement.

 

Real Estate Dispositions

As discussed in Note 2 above, the Company entered into agreements to sell three properties with an aggregate contract value of approximately $13.77 million.

 

Each transaction is subject to customary due diligence and closing conditions. No other subsequent events requiring adjustment to or disclosure in the consolidated financial statements were identified.