Company: SACH
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001682220-25-000044
Chunk: 26

Company: Sachem Capital Corp.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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ination 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 31, 2024CostAccumulated DepreciationInvestment in Developmental Real Estate, Net(in thousands)Land$4,557 $— $4,557 Building4,936 (154)4,782 Site improvements359 (30)329 Tenant improvements1,182 — 1,182 Construction in progress3,141 — 3,141 Lease intangibles41 — 41 Total$14,216 $(184)$14,032 For the six months ended June 30, 2025 and 2024, depreciation and amortization expense related to developmental real estate was $0.1 million and $0.1 million, respectively, which is presented in other expenses on the Company’s Condensed Consolidated Statements of Operations. Tenant improvements and other intangibles associated with the tenant began amortizing upon commencement of the lease that occurred in February 2025. Amortization related to tenant improvements and intangibles was $43,000 for the six months ended June 30, 2025 compared to no such amortization for the