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Subsequent Events | 3 Months Ended
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Mar. 31, 2022
Subsequent Events [Abstract] |
Subsequent Events | Note 15. Subsequent Events Acquisitions On April 18, 2022, the Company, in its Core Portfolio, acquired a retail portfolio of 15 properties referred to as the Henderson Portfolio in Dallas, Texas for approximately $85.4 million inclusive of transaction costs. Financing Activities On April 6, 2022, the Company entered into an additional term loan (the "$175.0 Million Term Loan"). The $175.0 Million Term Loan bears interest at SOFR plus 1.5% and matures on April 6, 2027. In addition, during April 2022, the Company entered into swaps totaling $100.0 million to fix SOFR at an average rate of 2.5% for borrowings under the $175.0 Million Term Loan. The proceeds of the $175.0 Million Term Loan were used to repay the Revolver. On April 26, 2022, Fund V obtained a new loan for its Midstate property (Note 2) for up to $50.2 million of which $42.4 million was funded at closing. The loan bears interest at SOFR plus 2.5%, but is swapped to a fixed rate of 5.1%, and matures on April 28, 2025, subject to two 12-month extension options. On May 2, 2022, Fund V modified its subscription line and extended the maturity date to May 1, 2023. In addition, the commitment was reduced to $135.0 million. Lending Activities On April 1, 2022, the Company funded $1.2 million to its unconsolidated 1238 Wisconsin subsidiary (Note 4) under a $12.8 million construction loan commitment, which bears interest at Prime plus 1.0% and matures on December 28, 2023.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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