LOANS PAYABLE AND SECURED LINE OF CREDIT (Tables)

12 Months Ended

Dec. 31, 2022

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, 2022, excluding extension options, were as follows (dollars in thousands):

Year of Maturity	Principal
2023	$	226,429
2024		35,750
2025		—
2026		—
2027		—
		262,179
Less: deferred finance costs, net		(3,375)
Total loans, secured line of credit, and note payable, net	$	258,804

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,
	2022		2021		2020
Interest expense	$	20,616	$	21,238	$	17,174
Interest capitalized		(4,915)		(13,314)		(15,577)
Interest income		—		(2)		(57)
Interest expense, net	$	15,701	$	7,922	$	1,540