XML 59 R46.htm IDEA: XBRL DOCUMENT
v3.25.2

Derivatives (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments | The following table summarizes the Company’s derivative instruments as of June 30, 2025 and December 31, 2024:
|  |  |  |  |  |  |  |  |  |  |  |  |  | Fair Value Assets (Liabilities)
Underlying Debt Instrument |  | Type of Instrument |  | Accounting Policy |  | Notional Amount |  | Effective Date |  | Maturity Date |  | Interest Rate |  | June 30, 2025 |  | December 31, 2024
1918 Eighth |  | Swap |  | Cash flow hedge |  | $ | 172,865 |  |  | February 2023 |  | October 2025 |  | 3.75% |  | $ | 261 |  |  | $ | 524 |
1918 Eighth |  | Cap |  | Partial cash flow hedge(1) |  | $ | 314,300 |  |  | June 2023 |  | December 2025 |  | 5.00% |  | 1 |  |  | 62 |
1918 Eighth |  | Sold cap(2) |  | Mark-to-market |  | $ | 172,865 |  |  | June 2023 |  | December 2025 |  | 5.00% |  | (1) |  |  | (34) |
Hollywood Media Portfolio CMBS |  | Swap |  | Cash flow hedge |  | $ | 351,186 |  |  | August 2023 |  | June 2026 |  | 3.31% |  | 1,709 |  |  | 3,663 |
Hollywood Media Portfolio CMBS |  | Swap |  | Cash flow hedge |  | $ | 180,000 |  |  | February 2024 |  | August 2026 |  | 4.13% |  | (727) |  |  | (267) |
Hollywood Media Portfolio CMBS |  | Cap |  | Partial cash flow hedge(1) |  | $ | 1,100,000 |  |  | August 2024 |  | August 2025 |  | 6.01% |  | — |  |  | 4 |
Hollywood Media Portfolio CMBS |  | Sold cap(2) |  | Mark-to-market |  | $ | 561,000 |  |  | August 2024 |  | August 2025 |  | 6.01% |  | — |  |  | (2) |
Sunset Glenoaks Studios |  | Cap |  | Cash flow hedge |  | $ | 100,600 |  |  | January 2025 |  | January 2026 |  | 4.50% |  | 9 |  |  | 72 |
Office Portfolio CMBS |  | Cap |  | Mark-to-market |  | $ | 475,000 |  |  | March 2025 |  | April 2027 |  | 4.96% |  | 220 |  |  | — |
Office Portfolio CMBS |  | Sold cap(2) |  | Mark-to-market |  | $ | 475,000 |  |  | March 2025 |  | April 2027 |  | 4.96% |  | (216) |  |  | — |
Office Portfolio CMBS(3) |  | Cap |  | Cash flow hedge |  | $ | 222,501 |  |  | April 2025 |  | April 2027 |  | 3.35% |  | 1,847 |  |  | — |
Office Portfolio CMBS |  | Swap |  | Cash flow hedge |  | $ | 250,000 |  |  | April 2025 |  | April 2029 |  | 3.41% |  | (443) |  |  | — |
TOTAL |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 2,660 |  |  | $ | 4,022 |
__________________ 1.$141,435 and $539,000 of the notional amounts of the 1918 Eighth and Hollywood Media Portfolio CMBS 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. 2.The sold caps serve to offset the changes in fair value of the portions of the 1918 Eighth and Hollywood Media Portfolio CMBS caps that are not designated as cash flow hedges for accounting purposes, as well as the change in fair value of the full Office Portfolio CMBS cap, which is not designated as a cash flow hedge for accounting purposes. 3.The notional amount decreases on a monthly basis to follow the amortization of the underlying debt instrument.

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration