XML 33 R23.htm IDEA: XBRL DOCUMENT v3.23.1
Subsequent Events
3 Months Ended
Mar. 31, 2023
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
The Company has evaluated subsequent events through the filing of this Quarterly Report on Form 10-Q, and determined that there have not been any events that have occurred that would require adjustments to, or disclosures in the consolidated financial statements, except as disclosed in the applicable footnotes and below.
Acquisitions and Dispositions
The Company did not acquire or dispose of any properties subsequent to March 31, 2023.
Mortgage Loan Repayment
On May 5, 2023 the Company repaid the mortgage loan that encumbered its five properties in Germany, which had a balance of €51.4 million ($56.0 million) as of March 31, 2023. The repayment was fully funded with additional borrowings in EUR under the Revolving Credit Facility and the five properties in Germany were added to the borrowing base of the Revolving Credit Facility. The interest rates on the mortgage loan that was repaid and the Revolving Credit Facility were 3.6% and 5.5% as of March 31, 2023, respectively. The loan balance was approximately $56.7 million using the exchange rate on the date of repayment.