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v3.23.3

Notes Payable and Other Debt (Tables) | 9 Months Ended
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Sep. 30, 2023
Debt Disclosure [Abstract] |
Schedule of Notes Payable and Other Debt | As of September 30, 2023 and December 31, 2022, notes payable and other debt consisted of the following (dollars in millions):
|  | Interest Rate (%) |  | Maturity Date |  | Principal Outstanding
|  |  |  | September 30, 2023 |  | December 31, 2022
Secured: |  |  |  |  |  |  |  |
Laulani Village |  | 3.93% |  | 2024 |  | $ | 58.1 |  |  | $ | 59.0 |
Pearl Highlands |  | 4.15% |  | 2024 |  | 75.7 |  |  | 77.3 |
Photovoltaic Financing |  | (1) |  | 2027 |  | 2.4 |  |  | 2.6 |
Manoa Marketplace |  | (2) |  | 2029 |  | 53.1 |  |  | 54.5 |
Subtotal |  |  |  |  |  | $ | 189.3 |  |  | $ | 193.4 |
Unsecured: |  |  |  |  |  |  |  |
Series A Note |  | 5.53% |  | 2024 |  | $ | 7.1 |  |  | $ | 14.2 |
Series J Note |  | 4.66% |  | 2025 |  | 10.0 |  |  | 10.0 |
Series B Note |  | 5.55% |  | 2026 |  | 27.0 |  |  | 36.0 |
Series C Note |  | 5.56% |  | 2026 |  | 9.0 |  |  | 11.0 |
Series F Note |  | 4.35% |  | 2026 |  | 9.7 |  |  | 15.2 |
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 |  | 22.1 |  |  | 28.1 |
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 |  |  |  |  |  | $ | 237.4 |  |  | $ | 267.0 |
Revolving Credit Facilities: |  |  |  |  |  |  |  |
A&B Revolver |  | (3) |  | 2025 | (4) | 81.0 |  |  | 12.0 |
Total debt (contractual) |  |  |  |  |  | $ | 507.7 |  |  | $ | 472.4 |
Unamortized debt issuance costs |  |  |  |  |  | (0.1) |  |  | (0.2) |
Total debt (carrying value) |  |  |  |  |  | $ | 507.6 |  |  | $ | 472.2 |
(1) Financing lease has an interest rate of 4.14%. |  |
(2) Loan has a stated interest rate of SOFR plus 1.35%. Prior to August 1, 2023, loan had a stated interest rate of LIBOR plus 1.35%. Loan is swapped through maturity to a 3.14% fixed rate.
(3) Loan has a stated interest rate of SOFR plus 1.05% based on a pricing grid, plus a SOFR adjustment of 0.10%. Prior to April 28, 2023, loan had a stated interest rate of LIBOR plus 1.05% based on a pricing grid. $50.0 million was swapped through June 2022 to a 2.40% fixed rate.
(4) A&B Revolver has two six-month optional term extensions.

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