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Subsequent Events | 6 Months Ended
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Jun. 30, 2025
Subsequent Events [Abstract] |
Subsequent Events | Note 9 — Subsequent Events Subsequent to quarter end, in July 2025, the buyer in the agreement to sell the Brickell Assemblage exercised its final closing extension option and increased its non-refundable deposit by $7.0 million, bringing the total non-refundable deposit to $50.0 million. Closing is now scheduled for the fourth quarter of 2025. Our suburban Boston portfolio of five properties located in Massachusetts, New Hampshire, and Rhode Island, is under contract for $740.0 million. The buyer's $20.0 million deposit became non-refundable in August 2025. Four of the five asset sales are expected to close during the third quarter of this year, with closing of the final asset expected in the fourth quarter of 2025 to accommodate the assumption of the property loan. Our revolving credit facility is secured primarily with the Boston portfolio. Upon closing of the sale of the Boston portfolio, the revolving credit facility bank commitments will end, and sale proceeds will be used to retire the credit facility balance borrowed in May 2025.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
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