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Notes Payable and Other Debt (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Schedule of Notes Payable and Long-term Debt

As of December 31, 2020 and 2019, Notes payable and other debt consisted of the following (in millions):

																		Principal Outstanding
Debt						Interest Rate (%)						Maturity Date						December 31, 2020						December 31, 2019
Secured:
Kailua Town Center						(1)						2021						$	9.8					$	10.2
Kailua Town Center #2						3.15%						2021						4.5						4.6
Heavy Equipment Financing						(2)						(2)						3.2						3.6
Laulani Village						3.93%						2024						61.3						62.0
Pearl Highlands						4.15%						2024						81.4						83.4
Manoa Marketplace						(3)						2029						57.9						59.5
Subtotal																		$	218.1					$	223.3
Unsecured:
Series D Note						—%						2020						—						16.2
Bank syndicated loan						(4)						2023						50.0						50.0
Series A Note						5.53%						2024						28.4						28.5
Series J Note						4.66%						2025						10.0						10.0
Series B Note						5.55%						2026						46.0						46.0
Series C Note						5.56%						2026						22.0						23.0
Series F Note						4.35%						2026						19.7						22.0
Series H Note						4.04%						2026						50.0						50.0
Series K Note						4.81%						2027						34.5						34.5
Series G Note						3.88%						2027						29.6						35.0
Series L Note						4.89%						2028						18.0						18.0
Series I Note						4.16%						2028						25.0						25.0
Term Loan 5						4.30%						2029						25.0						25.0
Subtotal																		$	358.2					$	383.2
Revolving Credit Facilities:
GLP Asphalt revolving credit facility						(5)						2021						—						—
A&B Revolver						(6)						2022						111.0						98.7
Subtotal																		$	111.0					$	98.7
Total Debt (contractual)																		$	687.3					$	705.2
Unamortized debt premium (discount)																		—						(0.1)
Unamortized debt issuance costs																		(0.2)						(0.5)
Total debt (carrying value)																		$	687.1					$	704.6

(1) Loan has a stated interest rate of LIBOR plus 1.50%, but is swapped through maturity to a 5.95% fixed rate.

(2) Loans have a weighted average stated interest rate of approximately 3.0% and stated maturity dates ranging from 2021 to 2024.

(3) Loan has a stated interest rate of LIBOR plus 1.35% but is swapped through maturity to a 3.14% fixed rate.

(4) Loan has a stated interest rate of LIBOR plus 2.00% but is swapped through maturity to a 3.35% fixed rate.

(5) Loan has a stated interest rate of LIBOR plus 1.25%.

(6) Loan has a stated interest rate of LIBOR plus 2.05%, based on pricing grid.

Schedule of Debt Principal Payments

At December 31, 2020, debt principal payments and maturities during the next five years and thereafter and the corresponding amount of unamortized deferred financing costs or debt discounts or premiums were as follows (in millions):

						Scheduled principal payments
						2021			2022			2023			2024			2025			There- after			Total Principal						(Unamort Debt Issue Cost)/ (Discount) Premium						Total
Secured debt						$	20.4		$	6.0		$	5.9		$	134.9		$	1.9		$	49.0		$	218.1					$	(0.1)					$	218.0
Unsecured debt						23.1			24.1			78.6			22.0			38.3			172.1			358.2						(0.1)						358.1
Revolving credit facilities						—			111.0			—			—			—			—			111.0						—						111.0
Total Notes payable and other debt						$	43.5		$	141.1		$	84.5		$	156.9		$	40.2		$	221.1		$	687.3					$	(0.2)					$	687.1

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Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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