Company: INTG
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021858
Chunk: 4

Company: INTERGROUP CORP
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 2
Chunk 4
---
 
    $(108,000)

FINANCIAL
CONDITION, LIQUIDITY AND CAPITAL SOURCES

As
of September 30, 2025, the Company had:

●Cash
                                            and cash equivalents of $5,054,000 (including $11,000 classified as held for sale), compared
                                            to $5,092,000 (including $8,000 held for sale) at June 30, 2025

●Restricted
                                            cash of $8,337,000 (including $36,000 classified held for sale), compared to $10,103,000
                                            (including $45,000 held for sale) at June 30, 2025.

●Marketable
                                            securities, net of margin balances, of $966,000 (compared to $969,000 at June 30, 2025).

-23-

Parent
Company (InterGroup) — Liquidity and Capital Resources

InterGroup’s
liquidity is driven primarily by: (i) cash generated by its multifamily and commercial real estate portfolio; (ii) cash and cash equivalents
held at the parent; (iii) proceeds from refinancings at InterGroup-owned properties; and (iv) limited amounts of marketable securities.
InterGroup does not rely on Portsmouth for parent-level liquidity. Key expected uses of cash at the parent include corporate G&A,
parent-level income taxes, debt service on InterGroup property-level mortgages, and capital expenditures for its multifamily and other
real estate assets.

Parent
cash sources and uses for the next twelve months include:

●Real
                                            estate operations: Net operating cash flows from apartment and commercial properties, primarily
                                            in Texas and Los Angeles County, California.

●Debt
                                            service and maturities: Scheduled principal and interest on InterGroup’s property-level
                                            mortgages, including recently modified loans in St. Louis (maturity June 5, 2028) and Florence,
                                            Kentucky (maturity January 2035). InterGroup evaluates additional refinancing opportunities
                                            to optimize liquidity and interest costs.

●Capital
                                            expenditures: Routine unit turns and building systems maintenance; larger discretionary projects
                                            are prioritized based on expected returns and market conditions.

●Investments
                                            and other: Limited marketable securities activity; InterGroup may opportunistically recycle
                                            capital via selective asset sales or refinancings, subject to market conditions.

InterGroup
also provides liquidity to Portsmouth through an unsecured related-party revolving credit facility