MORTGAGE NOTES PAYABLE (Tables)

12 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

SCHEDULE OF MORTGAGE NOTE PAYABLE

Each mortgage notes payable is secured by real estate or the Hotel. As of June 30, 2023 and 2022, the mortgage notes payables are summarized as follows:

	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 2023	May 2025		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

	As of June 30, 2022
	Number		Note	Note	Mortgage			Interest
Property	of Units		Origination Date	Maturity Date	Balance			Rate
SF Hotel		544 rooms	December 2013	January 2024	$	89,114,000			5.28	%
SF Hotel		544 rooms	July 2019	January 2024		20,000,000			7.25	%
			Mortgage notes payable – Hotel			109,114,000
			Debt issuance costs			(367,000	)
			Total mortgage notes payable – Hotel		$	108,747,000
Florence		157	March 2015	April 2025	$	2,998,000			3.87	%
Las Colinas		358	October 2021	November 2031		28,801,000			2.95	%
Morris County		151	April 2020	May 2030		17,598,000			3.17	%
St. Louis		264	May 2013	May 2023		4,958,000			4.05	%
Los Angeles		4	July 2021	July 2051		1,135,000			3.50	%
Los Angeles		2	July 2021	July 2051		688,000			3.50	%
Los Angeles		1	June 2021	August 2051		904,000			3.50	%
Los Angeles		31	October 2020	November 2030		8,400,000			2.52	%
Los Angeles		30	June 2022	July 2052		5,850,000			4.40	%
Los Angeles		14	January 2021	February 2031		2,704,000			3.05	%
Los Angeles		12	June 2016	June 2026		2,026,000			3.59	%
Los Angeles		9	June 2020	July 2030		2,498,000			3.09	%
Los Angeles		9	November 2020	December 2030		1,934,000			3.05	%
Los Angeles		8	July 2021	July 2051		1,567,000			3.50	%
Los Angeles		7	August 2012	September 2042		774,000			3.75	%
Los Angeles		4	June 2021	August 2051		1,135,000			3.50	%
Los Angeles		1	June 2021	August 2051		545,000			3.50	%
Los Angeles		4	July 2021	August 2051		816,000			3.50	%
Los Angeles		1	September 2018	October 2048		956,000			4.75	%
			Mortgage notes payable – real estate			86,287,000
			Debt issuance costs			(850,000	)
			Total mortgage notes payable – real estate		$	85,437,000

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,
2024	$	108,420,000
2025		9,318,000
2026		1,168,000
2027		3,299,000
2028		1,771,000
Thereafter		68,894,000
	$	192,870,000