LOANS PAYABLE AND SECURED LINE OF CREDIT (Tables)

12 Months Ended

Dec. 31, 2021

LOANS PAYABLE AND SECURED LINE OF CREDIT

Schedule of combined aggregate principal maturities of our loans

Combined aggregate principal maturities of our loans, secured line of credit and note payable as of December 31, 2021, excluding extension options, were as follows (dollars in thousands):

Year of Maturity	Principal
2022	$	10,000
2023		202,710
2024		66,021
2025		—
2026		—
		278,731
Less: deferred finance costs, net		(8,025)
Total loans, secured line of credit, and note payable, net	$	270,706

Schedule of consolidated interest (income) expense

Consolidated interest expense (income), net includes the following (dollars in thousands):

	Year Ended		Year Ended		Year Ended
	December 31,		December 31,		December 31,
	2021		2020		2019
Interest expense	$	21,238	$	17,174	$	13,513
Interest capitalized		(18,229)		(15,719)		(13,513)
Interest income		(2)		(57)		(67)
Interest expense (income), net	$	3,007	$	1,398	$	(67)