Company: SACH
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001682220-25-000044
Chunk: 56

Company: Sachem Capital Corp.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 56
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Reclassification of loans held for sale to loans held for investmentCharge-offsAllowance for credit lossesas of June 30, 2025(in thousands)New England$12,844 $(5,670)$3,292 $— $10,466 Mid-Atlantic1,857 2,665 — (466)4,056 South1,802 156 — (668)1,290 West1,967 (134)— — 1,833 Total$18,470 $(2,983)$3,292 $(1,134)$17,645 The following table presents charge-offs on loan principal by fiscal year of origination for the three months ended June 30, 2025:20252024202320222021PriorTotal(in thousands)Current period charge-offs$— $— $— $— $513 $— $513 Total$— $— $— $— $513 $— $513 The following table presents charge-offs on loan principal by fiscal year of origination for the six months ended June 30, 2025:20252024202320222021PriorTotal(in thousands)Current period charge-offs$— $134 $— $487 $513 $— $1,134 Total$— $134 $— $487 $513 $— $1,134 

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

5. Investment in Developmental Real Estate, net

As of June 30, 2025 and December 31, 2024, investment in developmental real estate, net consisted of the following:June 30, 2025CostAccumulated DepreciationInvestment in DevelopmentalReal Estate, Net(in thousands)Land$6,476 $— $6,476 Building4,936 (185)4,751 Site improvements359 (42)317 Tenant improvements1,184 (40)1,144 Construction in progress3,898 — 3,898 Lease intangibles81 (3)78 Total $16,934 $(270)$16,664 December