ONE LIBERTY PROPERTIES INC Debt Disclosure

NOTE 8 — DEBT OBLIGATIONS

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Mortgages Payable

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The following table details the Mortgages payable, net, balances per the consolidated balance sheets (amounts in thousands):

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At December 31, 2025, there were 61 outstanding mortgages payable, all of which are secured by first liens on individual real estate investments with an aggregate gross carrying value of $805,750,000 before accumulated depreciation of $136,446,000. After giving effect to interest rate swap agreements (see Note 9), the mortgage payments bear interest at fixed rates ranging from 3.05% to 6.42% and mature between 2026 and 2047. The weighted average interest rate on all mortgage debt was 4.88%, 4.56% and 4.31% at December 31, 2025, 2024 and 2023, respectively.

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Scheduled principal repayments during the years indicated are as follows (amounts in thousands):

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Line of Credit

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The Company’s credit facility with Manufacturers and Traders Trust Company and VNB New York, LLC, provides that it may borrow up to $100,000,000, subject to borrowing base requirements. The facility is available for the acquisition of commercial real estate, repayment of mortgage debt, and renovation and operating expense purposes; provided, that if used for renovation and operating expense purposes, the amount outstanding for such purposes will not exceed the lesser of $40,000,000 and 40% of the borrowing base. Net proceeds received from the sale, financing or refinancing of properties are generally required to be used to repay amounts outstanding under the credit facility. The facility is guaranteed by subsidiaries of the Company that own unencumbered properties and the Company is required to pledge to the lenders the equity interests in such subsidiaries.

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The credit facility includes certain restrictions and covenants which may limit, among other things, the incurrence of liens, and which require compliance with financial ratios relating to, among other things, the minimum amount of tangible net worth, the minimum amount of debt service coverage, the minimum amount of fixed charge coverage, the maximum amount of debt to value, the minimum level of net income, certain investment limitations and the minimum value of unencumbered properties and the number of such properties.

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At December 31, 2025 and 2024, the Company has no balance outstanding on the facility and was in compliance with all covenants.

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NOTE 8 — DEBT OBLIGATIONS (CONTINUED)

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The facility, which matures December 31, 2026, provides for an interest rate equal to 30-day SOFR plus an applicable margin ranging from 175 basis points to 275 basis points depending on the ratio of the Company’s total debt to total value, as determined pursuant to the facility. The applicable margin was 175 basis points at December 31, 2025 and 2024. An unused facility fee of .25% per annum applies to the facility. The weighted average interest rate on the facility was approximately 6.07% and 6.69% during 2025 and 2023. The Company had no balance outstanding on the facility during the year ended December 31, 2024.

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At December 31, 2025 and February 27, 2026, $100,000,000 and $70,000,000, respectively, was available to be borrowed under the facility, including an aggregate of up to $40,000,000 available for renovation and operating expense purposes at each of such dates.

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At December 31, 2025 and 2024, the Company had unamortized deferred financing costs of $183,000 and $366,000, respectively, which are included in Escrow, deposits and other assets and receivables on the consolidated balance sheets.

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Deferred Financing Costs

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Mortgage and credit line costs are deferred and amortized on a straight-line basis over the terms of the respective debt obligations, which approximates the effective interest method. At December 31, 2025 and 2024, accumulated amortization of such costs was $5,473,000 and $5,214,000, respectively.