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Subsequent Events | 9 Months Ended
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Sep. 30, 2023
Subsequent Events [Abstract] |
Subsequent Events | 16. Subsequent Events On October 27, 2023, the Company transferred 146 Geary Street, a Fund IV property, to its lender through a deed-in-lieu foreclosure. The property was a vacant building located in San Francisco, California. On July 15, 2023, the Fund IV non-recourse mortgage loan on the property, with an outstanding principal balance of $19.3 million, or $4.5 million at the Company's share, matured with no further extension options and was in default. The loan accrued default interest at a rate of 4.00% per annum in excess of the interest rate of SOFR + 3.65% (Note 7). On October 30, 2023, the Renaissance Portfolio, which the Company holds a 20% interest (Note 4), extended the maturity date on its nonrecourse mortgage to November 3, 2023, as the partners complete the documentation for a longer-term extension with its lender. The loan had an outstanding principal balance of $160.0 million, or $32.0 million at the Company’s share, at the time the loan was extended.

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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 -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483399/855-10-50-2 + Details
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