Mortgages Loans, Delayed Draw Term Loan and Interest Rate Swaps (Tables)

3 Months Ended

Mar. 31, 2023

Mortgages Loans, Delayed Draw Term Loan and Interest Rate Swaps

Schedule of mortgage loans

Mortgage loans:	March 31, 2023		December 31, 2022
3.97%, due September 1, 2027	$	10,854	$	10,919
4.57%, due February 1, 2028 *		16,541		16,666
3.60%, due January 2, 2030 *		5,962		6,007
3.48%, due February 1, 2030		13,774		13,879
3.50%, due July 1, 2030 *		4,743		4,778
4.33%, due August 1, 2030		15,372		15,473
4.51%, due April 1, 2034		12,921		13,010
Mortgage loans		80,167		80,732
Debt issuance costs		(1,042)		(1,079)
Mortgage loans, net of debt issuance costs	$	79,125	$	79,653

*Variable rate loans for which INDUS entered into interest rate swap agreements to effectively fix the interest rates on these loans to the rates reflected above.

Schedule of notional and fair value of our interest rate swaps

							Fair Value of Interest Rate
			LIBOR	SOFR	Current Notional Value		Derivative Assets/(Liabilities)
Effective	Maturity		Interest	Interest	March 31,	December 31,	March 31,	December 31,
Date	Date		Strike Rate	Strike Rate	2023	2022	2023	2022
July 1, 2022	April 21, 2027		n/a	2.933%	$ 90,000	$ 90,000	$ 2,774	$ 4,704
March 15, 2017	March 1, 2027	(a)	2.501%	n/a	10,204	10,290	378	522
February 1, 2018	February 1, 2028	(a)	2.782%	n/a	6,337	6,376	190	324
January 2, 2020	January 1, 2030		1.849%	n/a	5,962	6,007	487	621
July 1, 2020	July 1, 2030		0.942%	n/a	4,743	4,778	675	800
					$ 117,246	$ 117,451	$ 4,504	$ 6,971
(a) represents multiple interest rate swap agreements against a single mortgage