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DEBT - Narrative (Details) |  |  |  | 1 Months Ended | 6 Months Ended |  |
--- | --- | --- | --- | --- | --- | --- | ---
May 31, 2023 | May 30, 2023 | Apr. 26, 2023 USD ($) | Nov. 30, 2022 USD ($) | Jun. 30, 2023 USD ($) loan apartmentCommunity | Dec. 31, 2022 USD ($) apartmentCommunity | Sep. 30, 2021 USD ($)
Line of Credit Facility [Line Items] |  |  |  |  |  |  |
Number of real estate properties, unencumbered by mortgages | apartmentCommunity |  |  |  |  | 49 |  |
Revolving lines of credit |  |  |  |  | $ 18,989,000 | $ 113,500,000 |
Outstanding debt |  |  |  |  | $ 885,518,000 | $ 1,011,777,000 |
Weighted average interest rate |  |  |  |  | 3.54% | 3.62% |
Mortgages |  |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |  |
Debt instrument, face amount |  |  | $ 90,000,000 |  |  |  |
Term |  |  | 12 years |  |  |  |
Weighted average interest rate |  |  | 5.04% |  |  |  |
Number of real estate properties, serving as collateral for mortgage loans | apartmentCommunity |  |  |  |  | 14 | 15 |
Number of material defaults or instances of noncompliance | loan |  |  |  |  | 0 |  |
Private Shelf Agreement | Unsecured Senior Notes |  |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |  |
Debt available for issuance |  |  |  |  | $ 225,000,000 |  |
Debt instrument, face amount |  |  |  |  | 25,000,000 |  |
Outstanding debt |  |  |  |  | 200,000,000 |  |
Remaining available for issuance |  |  |  |  | 25,000,000 |  |
Note Purchase Agreement | Unsecured Senior Notes |  |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |  |
Debt instrument, face amount |  |  |  |  | $ 125,000,000 |  |
PNC Bank Term Loan Agreement | Unsecured Senior Notes |  |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |  |
Debt instrument, face amount |  |  |  | $ 100,000,000 |  |  |
Outstanding debt |  |  |  |  |  | $ 100,000,000 |
Term |  |  |  | 364 days | 364 days |  |
PNC Bank Term Loan Agreement | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Minimum | Unsecured Senior Notes |  |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |  |
Basis spread on variable rate |  |  |  | 1.20% |  |  |
PNC Bank Term Loan Agreement | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Maximum | Unsecured Senior Notes |  |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |  |
Basis spread on variable rate |  |  |  | 1.75% |  |  |
Mortgages payable - Fannie Mae | Mortgages |  |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |  |
Debt instrument, face amount |  |  |  |  | $ 198,900,000 |  |
Outstanding debt |  |  |  |  | $ 198,850,000 | $ 198,850,000 |
Number of apartment units | apartmentCommunity |  |  |  |  | 12 |  |
Weighted average interest rate |  |  |  |  | 2.78% | 2.78% |
Mortgages payable - Fannie Mae | Mortgages | Interest Only Payment Date One |  |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |  |
Term |  |  |  |  | 7 years |  |
Mortgages payable - Fannie Mae | Mortgages | Interest Only Payment Date Two |  |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |  |
Term |  |  |  |  | 10 years |  |
Mortgages payable - Fannie Mae | Mortgages | Interest Only Payment Date Three |  |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |  |
Term |  |  |  |  | 12 years |  |
Line of Credit | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate |  |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |  |
Basis spread on variable rate | 13500.00% |  |  |  |  |  |
Basis spread adjustment | 1000.00% |  |  |  |  |  |
Line of Credit | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Minimum |  |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |  |
Basis spread on variable rate | 12500.00% |  |  |  |  |  |
Line of Credit | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Maximum |  |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |  |
Basis spread on variable rate | 18000.00% |  |  |  |  |  |
Line of Credit | Base Rate | Minimum |  |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |  |
Basis spread on variable rate | 2500.00% | 0.25% |  |  |  |  |
Line of Credit | Base Rate | Maximum |  |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |  |
Basis spread on variable rate | 8000.00% | 0.80% |  |  |  |  |
Line of Credit | London Interbank Offered Rate (LIBOR) | Minimum |  |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |  |
Basis spread on variable rate |  | 1.25% |  |  |  |  |
Line of Credit | London Interbank Offered Rate (LIBOR) | Maximum |  |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |  |
Basis spread on variable rate |  | 1.80% |  |  |  |  |
Line of Credit | BMO Line of Credit |  |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |  |
Maximum borrowing capacity |  |  |  |  | $ 250,000,000 |  |
Remaining borrowing capacity |  |  |  |  | 232,000,000 |  |
Revolving lines of credit |  |  |  |  | 18,000,000 |  |
Accordion option |  |  |  |  |  |  | $ 400,000,000
Operating Line of Credit |  |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |  |
Maximum borrowing capacity |  |  |  |  | 6,000,000 |  |
Revolving lines of credit |  |  |  |  | $ 989,000 |  |

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- Definition Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (b)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-4 + Details
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- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(16)(a)(2)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1 + Details
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