MORTGAGE NOTES PAYABLE (Tables)

12 Months Ended

Dec. 31, 2024

MORTGAGE NOTES PAYABLE

Schedule of approximate annual maturities

Approximate annual maturities at December 31, 2024 are as follows:

2025—current maturities	$	3,579,000
2026		25,088,000
2027		23,328,000
2028		31,875,000
2029		28,301,000
Thereafter		296,434,000
		408,605,000
Less: unamortized deferred financing costs		2,399,000
	$	406,206,000

Schedule of debt by property

		PREVIOUS		CURRENT		DEFERRED
		MORTGAGE		MORTGAGE		FINANCE		PREPAYMENT
PROPERTY NAME		BALANCE		BALANCE		COSTS		PENALTY
Dean Street	$	5,687,000	$	10,322,000	$	109,841	$	160,943
School Street		13,178,000		26,993,000		287,159		171,676
Westgate Apartments		15,700,000		38,475,000		409,299		401,714
Courtyard at Westgate		2,500,000		4,494,000		47,831		100,211
	$	37,065,000	$	80,284,000	$	854,130	$	834,544