Item 2. Properties
Item 2.
PROPERTIES
We currently own and manage one commercial real estate property (Addison Corporate Center) located in Windsor, CT and two residential apartments: Commodore Apartments and Pon De Leo Apartments,
located in Oakland, CA. The Addison Corporate Center is owned by the Property Owner, which is a wholly owned subsidiary of the Operating Partnership. The Commodore Apartments are owned through our subsidiary Madison, and the Pon De Leo Apartments
are owned through our subsidiary PVT. These properties serve as collateral to the mortgage notes payable of underlying companies. See Note 8 under Index to Audited Consolidated Financial Statements in this Annual Report.
Addison Corporate Center contains 605,502 square feet, of which approximately 185,000 square feet is office space and the remainder is designated as flex office/warehouse space.
Commodore Apartments is a mid-rise apartment building built in 1912 and has 48 units. As of June 30, 2021, Commodore Apartments is approximately 81.3% occupied. Pon De Leo
Apartments is also a mid-rise apartments building built in 1929 and has 39 units. As of June 30, 2021, Pon De Leo Apartments is approximately 94.9% occupied. See “Properties” under Management’s Discussion and Analysis of Financial
Condition and Results of Operations of this Annual Report.
Item 3.
LEGAL PROCEEDINGS
We are not currently subject to any material legal proceedings, nor, to our knowledge, is any material legal proceeding threatened against us.
Item 4.
MINE SAFETY DISCLOSURES
Not applicable.
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Table of Contents
PART II
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