Mortgages and Other Notes Payable (Tables)

12 Months Ended

Dec. 31, 2024

Below is a summary of our notes and interest payable as of December 31, 2024 and 2023:


	Carrying Value				Interest Rate		Maturity Date
Property/ Entity	2024		2023
770 South Post Oak	$	10,939	$	11,187	4.36	%	6/1/2025
Alera(1)	8,554		—		7.55	%	3/15/2026
Blue Lake Villas	9,327		9,503		3.15	%	11/1/2055
Blue Lake Villas Phase II	3,271		3,349		2.85	%	6/1/2052
Chelsea	7,878		8,064		3.36	%	12/1/2050
EQK Portage	3,350		3,350		5.00	%	11/13/2029
Forest Grove(2)	6,421		6,988		7.50	%	8/1/2031
Landing on Bayou Cane	14,162		14,442		3.52	%	9/1/2053
Legacy at Pleasant Grove	12,381		12,716		3.55	%	4/1/2048
Northside on Travis	11,125		11,394		2.50	%	2/1/2053
Parc at Denham Springs	16,048		16,399		3.75	%	4/1/2051
Parc at Denham Springs Phase II	15,419		15,608		4.05	%	2/1/2060
RCM HC Enterprises	5,086		5,086		5.00	%	12/31/2029
Residences at Holland Lake	10,219		10,424		3.60	%	3/1/2053
Villas at Bon Secour	18,798		19,205		3.08	%	9/1/2031
Villas of Park West I(3)	8,983		9,181		3.04	%	3/1/2053
Villas of Park West II(3)	8,158		8,334		3.18	%	3/1/2053
Vista Ridge	9,342		9,512		4.00	%	8/1/2053
Windmill Farms(4)	2,395		4,399		7.50	%	2/28/2026
	$	181,856	$	179,141

(1) On March 15, 2023, we entered into a $33,000 construction loan to finance the development of Alera (See Note 7 - Real Estate Activity) that bears interest at SOFR plus 3% and matures on March 15, 2026, with two one-year extension options.

(2) On July 10, 2024, we replaced the existing loan on the property with a $6,558 loan that bears interest at SOFR plus 2.15% and matures on August 1, 2031.

(3) On November 1, 2022, we agreed to assume the mortgage note payable from our joint venture in connection with the acquisition of the underlying property (See Note 10 - Investment in Unconsolidated Joint Ventures) and obtained final lender approval of the assumption in 2024.

(4) On February 8, 2024, we extended the maturity to February 28, 2026 at an interest rate of 7.50%.

Schedule of Future Principal Payments

Future principal payments due on our mortgages and other notes payable at December 31, 2024 are as follows:


Year	Amount
2025	$	14,338
2026	12,124
2027	3,422
2028	3,488
2029	3,611
Thereafter	145,785
	182,768
Deferred finance cost	(912)
	$	181,856