Company: SACH
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001682220-25-000044
Chunk: 29

Company: Sachem Capital Corp.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 29
---
,557 $(110)$2,447 Land255 — 255 Furniture and fixtures308 (117)191 Computer hardware and software295 (246)49 Vehicles435 (155)280 Total property and equipment, net$3,850 $(628)$3,222 

19

Table of ContentsSACHEM CAPITAL CORP.NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTSFOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2025

8.   Other Assets

As of June 30, 2025 and December 31, 2024, other assets consisted of the following:June 30, 2025December 31, 2024(in thousands)Prepaid expenses$524 $575 Other receivables1,935 1,793 Other assets412 190 Notes receivable2,130 2,130 Deferred financing costs, net145 — Straight line rent receivable459 — Deferred leasing costs, net374 387 Acquired in-place lease intangible, net549 568 Goodwill391 391 Intangible asset – trade name130 130 Total$7,049 $6,164 The estimated annual amortization of acquired in-place lease intangible is $57,000 per year.  The estimated annual amortization of deferred leasing costs is $39,000 per year.

9.    Lines of Credit, Mortgage Payable and Churchill Facility

Line of Credit – Needham BankThe Company has maintained a Credit and Security Agreement (the “Credit Agreement”) with Needham Bank, a Massachusetts co-operative bank, as the administrative agent (“Needham”) for the lenders party thereto (the “Lenders”) with respect to revolving credit facility (“Needham Credit Facility”) with commitments of $50.0 million and $65.0 million, subject to borrowing base limitations and covenant compliance, at June 30, 2025 and December 31, 2024, respectively.On March 20, 2025, the Company entered into a new Credit Agreement with Needham, replacing the prior Needham Credit Facility, which was fully repaid and terminated on the same date. The 2025 Needham Credit Facility matures on March 2, 2026, and includes an option to extend the term by one year upon satisfaction of certain conditions. Under the new agreement, SN Holdings