Mortgage Notes and Credit Facility (Tables) - Mortgage notes

6 Months Ended

Jun. 30, 2024

Debt Instrument [Line Items]

Summary of Fixed-rate Mortgage Notes Secured by Properties

The following is a summary of the mortgage notes secured by the Company’s properties ($ in thousands):

					Principal Balance Outstanding
Indebtedness	Interest Rate			Maturity Date	June 30, 2024			December 31, 2023
Caroline West Gray		5.44	%	12/1/2029	$	45,911		$	45,911
Caroline Post Oak		5.44	%	12/1/2029		40,528			40,528
Coda on Centre		4.28	%	5/1/2029		28,654			28,907
6200 Bristol(1)	SOFR + 2.05%			4/1/2029		10,000			—
Total loans secured by real estate						125,093			115,346
Deferred financing costs, net						(1,265	)		(1,030	)
Mortgage discount, net						(671	)		(739	)
Mortgage notes, net					$	123,157		$	113,577

(1) The Company entered into a non-hedge interest rate swap on April 2, 2024, which fixed the rate at 6.26%.

Summary of Future Principal Payment Due Under Mortgage Notes

The following table details the future principal payments due under the Company’s mortgage notes as of June 30, 2024 ($ in thousands):

Year	Mortgage Notes
2024 (remainder)	$	258
2025		536
2026		560
2027		585
2028		635
Thereafter		122,519
Total future principal payments	$	125,093