MORTGAGE NOTES PAYABLE (Tables)

12 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

SCHEDULE OF MORTGAGE NOTE PAYABLE

Each mortgage notes payable is secured by real estate or the Hotel. As of June 30, 2024 and 2023, the mortgage notes payables are summarized as follows:

	As of June 30, 2024
	Number	Note	Note	Mortgage			Interest
Property	of Units	Origination Date	Maturity Date	Balance			Rate
SF Hotel	544 rooms	December 2013	January 2025	$	76,962,000			5.28	%
								plus 4% default rate
SF Hotel	544 rooms	July 2019	January 2025		24,500,000			7.25	%
								plus 4% default rate
		Mortgage notes payable – Hotel			101,462,000
		Debt issuance costs			(679,000	)
		Total mortgage notes payable – Hotel		$	100,783,000
Florence	157	March 2015	April 2025	$	2,834,000			3.87	%
Las Colinas	358	October 2021	November 2031		28,800,000			2.95	%
Las Colinas	358	December 2023	November 2031		4,573,000			7.60	%
Morris County	151	April 2020	May 2030		16,807,000			3.17	%
St. Louis	264	May 2023	May 2025		5,355,000			8.60	%
Los Angeles	4	July 2021	July 2051		1,088,000			3.50	%
Los Angeles	2	July 2021	July 2051		659,000			3.50	%
Los Angeles	1	June 2021	August 2051		867,000			3.50	%
Los Angeles	31	October 2020	November 2030		8,102,000			2.52	%
Los Angeles	30	June 2022	July 2052		5,662,000			4.40	%
Los Angeles	14	January 2021	February 2031		2,585,000			3.05	%
Los Angeles	12	June 2016	June 2026		1,919,000			3.59	%
Los Angeles	9	June 2020	July 2030		2,386,000			3.09	%
Los Angeles	9	November 2020	December 2030		1,848,000			3.05	%
Los Angeles	8	July 2021	July 2051		1,503,000			3.50	%
Los Angeles	7	August 2012	September 2042		733,000			3.75	%
Los Angeles	4	June 2021	August 2051		1,088,000			3.50	%
Los Angeles	1	June 2021	August 2051		523,000			3.50	%
Los Angeles	4	July 2021	August 2051		783,000			3.50	%
Los Angeles	1	September 2018	October 2048		910,000			3.50	%
		Mortgage notes payable – real estate			89,025,000
		Debt issuance costs			(852,000	)
		Total mortgage notes payable – real estate		$	88,173,000

	As of June 30, 2023
	Number	Note	Note	Mortgage			Interest
Property	of Units	Origination Date	Maturity Date	Balance			Rate
SF Hotel	544 rooms	December 2013	January 2024	$	87,240,000			5.28	%
SF Hotel	544 rooms	July 2019	January 2024		20,000,000			7.25	%
		Mortgage notes payable – Hotel			107,240,000
		Debt issuance costs			(123,000	)
		Total mortgage notes payable – Hotel		$	107,117,000
Florence	157	March 2015	April 2025	$	2,917,000			3.87	%
Las Colinas	358	October 2021	November 2031		28,800,000			2.95	%
Morris County	151	April 2020	May 2030		17,208,000			3.17	%
St. Louis	264	May 2013	May 2023		5,360,000			8.60	%
Los Angeles	4	July 2021	July 2051		1,112,000			3.50	%
Los Angeles	2	July 2021	July 2051		674,000			3.50	%
Los Angeles	1	June 2021	August 2051		886,000			3.50	%
Los Angeles	31	October 2020	November 2030		8,291,000			2.52	%
Los Angeles	30	June 2022	July 2052		5,762,000			4.40	%
Los Angeles	14	January 2021	February 2031		2,645,000			3.05	%
Los Angeles	12	June 2016	June 2026		1,974,000			3.59	%
Los Angeles	9	June 2020	July 2030		2,443,000			3.09	%
Los Angeles	9	November 2020	December 2030		1,891,000			3.05	%
Los Angeles	8	July 2021	July 2051		1,535,000			3.50	%
Los Angeles	7	August 2012	September 2042		751,000			3.75	%
Los Angeles	4	June 2021	August 2051		1,112,000			3.50	%
Los Angeles	1	June 2021	August 2051		534,000			3.50	%
Los Angeles	4	July 2021	August 2051		800,000			3.50	%
Los Angeles	1	September 2018	October 2048		934,000			3.50	%
		Mortgage notes payable – real estate			85,629,000
		Debt issuance costs			(872,000	)
		Total mortgage notes payable – real estate		$	84,757,000

SCHEDULE OF FUTURE MINIMUM PAYMENT FOR MORTGAGE NOTES PAYABLE

Future minimum payments for all mortgage notes payable are as follows:

For the year ending June 30,
2025	$	110,778,000
2026		1,161,000
2027		3,295,000
2028		1,768,000
2029		1,843,000
Thereafter		71,642,000
	$	190,487,000