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Contingencies (Tables)
 9 Months Ended
Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Guarantees
The following table represents the Operating Partnership's guarantees of unconsolidated affiliates' debt as reflected in the accompanying condensed consolidated balance sheets as of September 30, 2018 and December 31, 2017:
 
 
As of September 30, 2018
 
Obligation Recorded to
Reflect Guaranty
Unconsolidated
Affiliate
 
Company's
Ownership
Interest
 
Outstanding
Balance
 
Percentage
Guaranteed
by the
Operating
Partnership
 
Maximum
Guaranteed
Amount
 
Debt
Maturity
Date (1)
 
9/30/2018
 
12/31/2017
West Melbourne I, LLC
- Phase I (2)
 
50%
 
$
41,737

 
50
%
(3) 
 
$
20,869

 
Feb-2021
(3) 
 
$
209

 
$
86

West Melbourne I, LLC
- Phase II (2)
 
50%
 
16,097

 
50
%
(3) 
 
8,049

 
Feb-2021
(3) 
 
80

 
33

Port Orange I, LLC
 
50%
 
56,366

 
50
%
(3) 
 
28,183

 
Feb-2021
(3) 
 
282

 
116

Ambassador
Infrastructure, LLC
 
65%
 
10,605

 
100
%
 
 
10,605

 
Aug-2020
 
 
106

 
177

Shoppes at
Eagle Point, LLC
 
50%
 
32,679

 
100
%
(4) 
 
36,400

 
Oct-2020
(5) 
 
364

 
364

EastGate Storage, LLC
 
50%
 
4,162

 
100
%
(6) 
 
6,500

 
Dec-2022
 
 
65

 
65

Self Storage at
Mid Rivers, LLC (7)
 
50%
 
2,021

 
100
%
 
 
5,987

 
Apr-2023
 
 
60

 
—

 
 
 
 
 
 
Total guaranty liability
 
 
$
1,166

 
$
841

(1)
Excludes any extension options.
(2)
The loan is secured by Hammock Landing - Phase I and Hammock Landing - Phase II, respectively.
(3)
The loan was amended in May 2018 to extend the maturity date and increase the guaranty from 20%. The loan has two one-year extension options for an outside maturity date of February 2023. See Note 6 for more information.
(4)
The guaranty will be reduced to 35% once construction is complete.
(5)
The loan has one two-year extension option, at the joint venture's election, for an outside maturity date of October 2022.
(6)
Once construction is complete, the guaranty will be reduced to 50%. The guaranty will be further reduced to 25% once certain debt and operational metrics are met.
(7)
The Company received a 1% fee for the guaranty when the loan was issued in April 2018. The guaranty will be reduced to 50% once construction is complete. The guaranty will be further reduced to 25% once certain debt and operational metrics are met. See Note 6 for additional information.