FINANCIAL RESULTS
Albanese Cormier Holdings, LLC and Subsidiaries NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Years ended December 31, 2025 and 2024 Summary of Significant Accounting Policies, continued Subsequent Events
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Management has evaluated subsequent events through March 10, 2026, the date the financial statements were available to be issued. The company is under contract to sell ACS DeVeaux Village Shopping Center OH, LLC. In February 2026, the Company entered into an interest rate swap derivatives with a notional amount of $200,000,000 with a maturity date of June 2030. The Swap involves agreements to pay a fixed rate of 3.38% and receive a floating rate, calculated on the agreed-upon notional amount. This swap is secured by property included as collateral for the Wells Fargo Line of Credit. Fair Value Measurements The Company determine the fair value of its assets and liabilities through a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. This hierarchy consists of three broad levels. Level 1 inputs to the valuation methodology are based on unadjusted quoted prices for identical assets in active markets that the Company has the ability to access. Level 2 inputs are based primarily on quoted prices for similar assets in active or inactive markets and/or based on inputs that are derived principally from or corroborated by observable market data. Level 3 inputs are unobservable and are based on assumptions that market participants would utilize in pricing assets. The fair value of financial instruments, including cash, approximate carrying value, principally because of the short maturity of those items are considered Level 1. The fair value of debt are considered Level 2 or 3. Reclassification Certain 2024 amounts have been reclassified to conform to the current presentation. 2. Nature of Relationship with Edison Plaza Partners, LLC During fiscal year 2011, Edison Plaza Partners, LLC was created. It is owned equally by Beaumont Edison Plaza Partners, LLC and Tug Hill Edison Plaza Partners, LLC. Edison Plaza Partners, LLC was created to hold real property and any related debt associated with the purchase of a 17-story commercial building. Edison Plaza Partners, LLC also leases the real property to tenants and the leasing arrangement requires tenants to make monthly lease payments to them. Albanese Cormier Holdings, LLC formed Beaumont Edison Plaza Partners, LLC in 2011 to hold their fifty percent interest in Edison Plaza Partners, LLC. Beaumont Edison Plaza Partners, LLC will operate and manage the leasing activities of Edison Plaza Partners, LLC through a management agreement and will be paid a monthly fee based on lease income. Beaumont Edison Plaza Partners, LLC will also share fifty percent interest in the net operating income of Edison Plaza Partners, LLC. Effective August 2015, Beaumont
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83 AlbaneseCormier® | 2025 Annual Report
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