NOTES AND INTEREST PAYABLE

3 Months Ended

Mar. 31, 2019

Debt Disclosure [Abstract]

NOTES AND INTEREST PAYABLE

NOTE 7. NOTES AND INTEREST PAYABLE

Below is a summary of our notes and interest payable as of March 31, 2019 (dollars in thousands):

	March 31, 2019
		Notes Payable			Accrued Interest		Total Debt
Apartments	$	94,368		$	269	$	94,637
Apartments under Construction		21,919			—		21,919
Commercial		136,126			670		136,796
Land		21,860			180		22,040
Corporate and other notes		17,631			—		17,631
Total	$	291,904		$	1,119	$	293,023
Unamortized deferred borrowing costs	($	9,089	)			($	9,089	)
	$	282,815		$	1,119	$	283,934

There are various land mortgages, secured by the property, that are in the process of a modification or extension to the original note due to expiration of the loan. We are in constant contact with these lenders, working together in order to modify the terms of these loans and we anticipate a timely resolution that is similar to the existing agreement or subsequent modification.

In conjunction with the development of various apartment projects and other developments, we drew down $7.5 million in construction loans during the three months ended March 31, 2019.