Company: INTG
Filing Date: 2025-09-30
Form Type: 10-K
Source: 0001493152-25-016154
Chunk: 264

Company: INTERGROUP CORP
Filing Date: 2025-09-30
Form: 10-K
Item: Item 8
Chunk 264
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, 2028. In May 2025 InterGroup
made a principal reduction payment of $344,000.

During
the fiscal year ending June 30, 2024, InterGroup obtained a second mortgage on its 358-unit apartment located in Las Colinas, Texas in
the amount of $4,573,000. The term of the loan is approximately 7 years with interest rate at 7.60%.

    54

These
non-Hotel property mortgages are obligations of InterGroup (parent-level real estate portfolio) and are separate from, and not cross-defaulted
with, the Hotel-level financing of Portsmouth’s subsidiaries.

Each
mortgage notes payable is secured by real estate or the Hotel. As of June 30, 2025 and 2024, the mortgage notes payables are summarized
as follows:

 SCHEDULE OF MORTGAGE NOTE PAYABLE

    As of June 30, 2025 

    Number 
    Note 
    Note 
    Mortgage 

    Property 
    of Units 
    Origination Date 
    Maturity Date 
    Balance 
    Interest Rate

    SF Hotel 
    544 rooms 
    March 2025 
    April 2027 
    $67,000,000  
     Variable
at the greater of 7.65% or (Term SOFR + 4.75%) (a) 

    SF Hotel 
    544 rooms 
    March 2025 
    April 2027 
     36,300,000  
     7.25% fixed through 03/28/2027; 11.25 thereafter 

    Mortgage notes payable – Hotel 
      
     103,300,000  

    Debt issuance costs 
      
     (1,781,000) 

    Total mortgage notes payable – Hotel 
      
    $101,519,000  

    Florence 
    157 
    December 2024 
    January 2035 
    $9,800,000  
     5.40%
  
    Las Colinas 
    358 
    October 2021 
    November 2031 
     28,800,000  
     2.95%
  
    Las Colinas 
    358 
    December 2023 
    November 2031 
     4,573,000  
     7.60%