Company: INTG
Filing Date: 2025-09-30
Form Type: 10-K
Source: 0001493152-25-016154
Chunk: 30

Company: INTERGROUP CORP
Filing Date: 2025-09-30
Form: 10-K
Item: Item 1
Chunk 30
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000 principal reduction. The outstanding mortgage
balance was approximately $4,950,000 as of June 30, 2025. The floating rate is based on 30-day Term SOFR plus 3.10%, with a SOFR cap
of 5.5%.

Florence,
Kentucky. The Florence property is a three-story apartment complex with 157 units on approximately 6.0 acres. The Company acquired
the property on December 20, 1972 at an initial cost of approximately $1,995,000. For the year ended June 30, 2025, real estate property
taxes were approximately $62,000. Depreciation is recorded on the straight-line method, based upon an estimated useful life of 40 years.
The outstanding mortgage balance was approximately $9,800,000 as of June 30, 2025. In December 2024 the Company refinanced with new 10-year,
interest-only loan at 5.40%, the maturity date is January 2035.

Los
Angeles, California. The Company owns one commercial property, twelve apartment complexes, and three single-family houses in the
general area of Los Angeles County, California (“Los Angeles County”).

The
Company’s Los Angeles commercial property is a 5,503 square foot, two story building that served as the Company’s corporate
offices until it was leased out, effective October 1, 2009 and the Company leased a new space for its corporate office. The Company acquired
the building on March 4, 1999 for $1,876,000. Property taxes for the year ended June 30, 2025 were approximately $35,000. Depreciation
is recorded on the straight-line method, based upon an estimated useful life of 40 years. As of June 30, 2025, this property was not
encumbered by a mortgage.

The
first Los Angeles apartment complex is a 10,600 square foot two-story apartment with 12 units. The Company acquired the property on July
30, 1999 at an initial cost of approximately $1,305,000. For the year ended June 30, 2025, real estate property taxes were approximately
$25,000. Depreciation is recorded on the straight-line method, based upon an estimated useful life of 40 years. The outstanding mortgage
balance was approximately $1,863,000 as of June 30,