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Notes Payable, net
 12 Months Ended
Dec. 31, 2019
Debt Disclosure [Abstract]  
Notes Payable, net Notes Payable, net
The following table summarizes the Company's outstanding notes payable as December 31, 2019 and 2018:

December 31,
Property/FacilityCurrent MaturityRate (1)20192018
Village Pointe (2)December 2019
L + 275 bps
$—  $3,525,000  
Richardson Tech Center (2)March 2021
L + 275 bps
2,520,000  2,520,000  
Master Credit Facility Agreement - EWB (3)December 2021
P - 50 bps
16,000,000  8,268,750  
18,520,000  14,313,750  
Less unamortized deferred loan costs(202,638) (227,420) 
$18,317,362  $14,086,330  

(1) One-month LIBOR ("L"); Prime ("P")

(2) Payable in monthly installments of interest only until the maturity date. The Village Pointe note was paid in full on December 31, 2019. The interest rate for the Richardson Tech Center note as of December 31, 2019 was 4.55%.
(3) The Company is a party to a $20 million master credit facility agreement ("MCFA") with East West Bank. The borrowing base of the MCFA may be adjusted from time to time subject to the lender’s underwriting with respect to real property collateral which secure the amount available to be borrowed. As of December 31, 2019 the MCFA is secured by the Spectrum Building, the 11211 Katy Freeway Building, the 1400 Broadfield Building, the 16420 Park Ten Building and the 7915 FM 1960 Building. The interest rate as of December 31, 2019 was 4.25%. The outstanding balance under the MCFA was $16,000,000 as of December 31, 2019 and the amount available to be borrowed was $4,000,000.

The Company was in compliance with all loan covenants as of December 31, 2019.

Interest expense for the years ended December 31, 2019 and 2018 was $567,725 and $313,075, respectively, including $107,945 and $44,839 of deferred loan cost amortization. Unamortized deferred loan costs were $202,638 and $227,420 as of December 31, 2019 and 2018, respectively. Interest expense of $61,262 and $13,714 was payable as of December 31, 2019 and 2018, respectively, and is included in accounts payable and accrued expenses in the accompanying consolidated balance sheets.