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Derivatives (Tables)
6 Months Ended
Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments The following table summarizes the Company’s derivative instruments as of June 30, 2024 and December 31, 2023:
Fair Value Assets (Liabilities)
Underlying Debt InstrumentType of InstrumentAccounting PolicyNotional AmountEffective DateMaturity
Date
Interest RateJune 30, 2024December 31, 2023
Sunset Glenoaks Studios(1)
CapCash flow hedge$100,600 August 2022January 20254.50%$359 $— 
1918 EighthSwapCash flow hedge$172,865 February 2023October 20253.75%2,216 1,075 
1918 EighthCap
Partial cash flow hedge(2)
$314,300 June 2023December 20255.00%858 952 
1918 Eighth
Sold cap(3)
Mark-to-market$172,865 June 2023December 20255.00%(472)(520)
Hollywood Media PortfolioCap
Partial cash flow hedge(2)
$1,100,000 August 2023August 20245.70%— 59 
Hollywood Media Portfolio
Sold cap(3)
Mark-to-market$561,000 August 2023August 20245.70%— (29)
Hollywood Media PortfolioSwapCash flow hedge$351,186 August 2023June 20263.31%7,895 4,355 
Hollywood Media PortfolioSwapCash flow hedge$180,000 February 2024August 20264.13%1,236 — 
TOTAL$12,092 $5,892 
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1.Sunset Glenoaks Studios was consolidated as of June 30, 2024 and unconsolidated as of December 31, 2023. Therefore, the December 31, 2023 fair value is reported at $0.
2.$141,435 and $539,000 of the notional amounts of the 1918 Eighth and Hollywood Media Portfolio caps, respectively, have been designated as effective cash flow hedges for accounting purposes. The remainder of each is accounted for under mark-to-market accounting.
3.The sold caps serve to offset the changes in fair value of the portions of the 1918 Eighth and Hollywood Media Portfolio caps that are not designated as cash flow hedges for accounting purposes.