Company: SACH
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001682220-25-000044
Chunk: 63

Company: Sachem Capital Corp.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 63
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 amount equal to or greater than 2.50% of the amount of its repurchase obligations. Churchill has the right to terminate the Churchill Facility at any time upon 180 days prior notice to the Company. The Company then has an additional 180 days after termination to repurchase all the mortgage loans held by Churchill.The following table summarizes the outstanding balances under the Churchill Facility:June 30, 2025December 31, 2024TotalOutstandingRateTotalOutstandingRate(in thousands)(in thousands)Repurchase Agreement$14,442 8.32 %$33,708 8.69 %Total$14,442 $33,708 

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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

The following table summarizes loans held for investment pledged as collateral under the Churchill Facility:June 30, 2025December 31, 2024Total Carrying ValueLoans PledgedNumber of LoansTotal Carrying ValueLoans PledgedNumber of Loans(in thousands)(in thousands)Loans held for investment sold under the repurchase agreement$34,144 10$66,365 17Total$34,144 $66,365 The following table summarizes the contractual maturities for loans held for investment sold under the Churchill Facility agreement:June 30, 2025December 31, 2024(in thousands)Maturing within one year$27,174 $56,050 After one but within two years6,970 10,315 Total$34,144 $66,365 The NHB Mortgage and the Churchill Facility contain cross-default provisions.

10.    Unsecured Notes Payable

At June 30, 2025, the Company had an aggregate of $230.2 million of unsecured, unsubordinated notes payable outstanding, net of deferred financing costs (collectively, the “Notes”). At June 30, 2025, the Company had five series of Notes outstanding:(i)Notes having an aggregate principal amount of $56.3 million bearing interest at 7.75% per annum and maturing September 30, 2025 (the “September 2025 Notes”); (ii)Notes having an aggregate principal amount of $51.7 million bearing interest at 6.0% per annum and maturing