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DEBT - Narrative (Details) |  | 3 Months Ended |
--- | --- | --- | ---
May 31, 2023 | Mar. 31, 2024 USD ($) apartmentCommunity loan extensionOption | Dec. 31, 2023 USD ($)
Line of Credit Facility [Line Items] |  |  |
Number of real estate properties, unencumbered by mortgages | apartmentCommunity |  | 45 |
Revolving lines of credit |  | $ 40,357,000 | $ 30,000,000
Outstanding debt |  | $ 929,081,000 | $ 919,990,000
Weighted average interest rate |  | 3.59% | 3.54%
Mortgages |  |  |
Line of Credit Facility [Line Items] |  |  |
Number of real estate properties, serving as collateral for mortgage loans | apartmentCommunity |  | 14 |
Number of material defaults or instances of noncompliance | loan |  | 0 |
Private Shelf Agreement | Unsecured Senior Notes |  |  |
Line of Credit Facility [Line Items] |  |  |
Outstanding debt |  | $ 200,000,000 |
Debt instrument, face amount |  | 25,000,000 |
Note Purchase Agreement | Unsecured Senior Notes |  |  |
Line of Credit Facility [Line Items] |  |  |
Debt instrument, face amount |  | 125,000,000 |
Mortgages payable - Fannie Mae credit facility | Mortgages |  |  |
Line of Credit Facility [Line Items] |  |  |
Outstanding debt |  | 198,850,000 | $ 198,850,000
Debt instrument, face amount |  | $ 198,900,000 |
Number of apartment units | apartmentCommunity |  | 11 |
Weighted average interest rate |  | 2.78% | 2.78%
Mortgages payable - Fannie Mae credit facility | Mortgages | Interest Only Payment Date One |  |  |
Line of Credit Facility [Line Items] |  |  |
Term of debt |  | 7 years |
Mortgages payable - Fannie Mae credit facility | Mortgages | Interest Only Payment Date Two |  |  |
Line of Credit Facility [Line Items] |  |  |
Term of debt |  | 10 years |
Mortgages payable - Fannie Mae credit facility | Mortgages | Interest Only Payment Date Three |  |  |
Line of Credit Facility [Line Items] |  |  |
Term of debt |  | 12 years |
Line of Credit | Base Rate | Minimum |  |  |
Line of Credit Facility [Line Items] |  |  |
Basis spread on variable rate | 0.25% |  |
Line of Credit | Base Rate | Maximum |  |  |
Line of Credit Facility [Line Items] |  |  |
Basis spread on variable rate | 0.80% |  |
Line of Credit | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Minimum |  |  |
Line of Credit Facility [Line Items] |  |  |
Basis spread on variable rate | 1.25% |  |
Line of Credit | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | 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 |
Revolving lines of credit |  | 40,000,000 |
Remaining borrowing capacity |  | $ 210,000,000 |
Number of extensions | extensionOption |  | 2 |
Debt extension term |  | 6 months |
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 |  | $ 357,000 | $ 0

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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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