Mortgages Payable (Tables) - Mortgages

3 Months Ended

Mar. 31, 2025

Debt

Schedule of Debt

The following table summarizes our mortgages payable as of March 31, 2025 and December 31, 2024 (dollars in millions):

As Of	Number of Properties (1)	Weighted Average Stated Interest Rate		Weighted Average Effective Interest Rate		Weighted Average Remaining Years Until Maturity	Remaining Principal Balance		Unamortized Discount and Deferred Financing Costs Balance, net		Mortgages Payable Balance
March 31, 2025	16	4.8	%	5.9	%	2.4	$	43.0	$	(0.4)	$	42.6
December 31, 2024	17	4.0	%	4.5	%	1.4	$	81.3	$	(0.5)	$	80.8

(1)At March 31, 2025, there were 10 mortgages on 16 properties and at December 31, 2024, there were 11 mortgages on 17 properties. The mortgages require monthly payments with principal payments due at maturity. At March 31, 2025 and December 31, 2024, all mortgages were at fixed interest rates.

Schedule of Maturity of Debt, Net

The following table summarizes the maturity of mortgages payable as of March 31, 2025, excluding $0.4 million related to unamortized net discounts and deferred financing costs (dollars in millions):

Year of Maturity	Principal
2025	$	5.1
2026	12.0
2027	22.3
2028	1.3
2029	1.3
Thereafter	1.0
Total	$	43.0