Company: INTG
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010724
Chunk: 64

Company: INTERGROUP CORP
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 64
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738,000 
  
    Finance lease ROU assets 
     1,805,000  
     (1,635,000) 
     170,000 
  
    Furniture and equipment 
     39,854,000  
     (32,785,000) 
     7,069,000 
  
    Building and improvements 
     68,527,000  
     (39,422,000) 
     29,105,000 
  
    Investment in Hotel,
    net 
    $112,924,000  
    $(73,842,000) 
    $39,082,000 

    Accumulated  
    Net Book 
  
    June
    30, 2024 
    Cost  
    Depreciation  
    Value 

    Land 
    $2,738,000  
    $-  
    $2,738,000 
  
    Finance lease ROU assets 
     1,805,000  
     (1,521,000) 
     284,000 
  
    Furniture and equipment 
     40,310,000  
     (31,396,000) 
     8,914,000 
  
    Building and improvements 
     67,159,000  
     (38,194,000) 
     28,965,000 
  
    Investment in Hotel,
    net 
    $112,012,000  
    $(71,111,000) 
    $40,901,000 

Finance
lease ROU assets, furniture and equipment are stated at cost, depreciated on a straight-line basis over their useful lives ranging from
3 to 7 years and amortized over the life of the lease. Building and improvements are stated at cost, depreciated on a straight-line basis
over their useful lives ranging from 15 to 39 years. Depreciation expense related to our investment in Hotel for the nine months ended
March 31, 2025 and 2024 are $2,731,000 and $2,596,000, respectively.

NOTE
5 – INVESTMENT IN REAL ESTATE, NET

The
Company’s investment in real estate includes sixteen apartment complexes, one commercial real estate property and three single-family
houses. The properties are located throughout the United States, but are concentrated in Dallas, Texas and Southern California. The Company