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Contingencies (Tables)

3 Months Ended

Mar. 31, 2021

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 March 31, 2021 and December 31, 2020:

		As of March 31, 2021																				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)			March 31, 2021				December 31, 2020
West Melbourne I, LLC - Phase I		50%				$	39,944			50%					$	19,972			Feb-2025	(2)		$	200			$	201
West Melbourne I, LLC - Phase II		50%					14,316			50%						7,158			Feb-2025	(2)			72				72
Port Orange I, LLC		50%					52,898			50%						26,449			Feb-2025	(2)			264				266
Ambassador Infrastructure, LLC		65%					8,250			100%						8,250			Mar-2025				83				94
Shoppes at Eagle Point, LLC		50%					34,435			35%			(3)			12,740			Oct-2021				127				127
EastGate Storage, LLC		50%					6,500			50%			(4)			3,250			Dec-2022				33				33
Self Storage at Mid Rivers, LLC		50%					5,939			50%			(4)			2,994			Apr-2023				30				30
Parkdale Self Storage, LLC		50%					6,318			100%			(5)			6,500			Jul-2024				65				65
Hamilton Place Self Storage, LLC		54%					6,668			50%			(4)			3,501			Sep-2024				35				35
Atlanta Outlet JV, LLC		50%					4,568			100%						4,568			Nov-2023				—				—
Louisville Outlet Shoppes, LLC		50%					8,752			100%						8,752			Oct-2021				—				—
Total guaranty liability																						$	909			$	923

(1) Excludes any extension options.

(2) These loans have a one-year extension option at the joint venture’s election.

(3) The guaranty is for a fixed amount of $12,740 throughout the term of the loan, including any extensions. The loan has a one-year extension option, at the joint venture’s election, for an outside maturity date of October 2022.

(4) Subject to the bankruptcy default being waived, the guaranty may be reduced to 25% once certain debt and operational metrics are met.

(5) The guaranty was increased to 100% as a result of the Chapter 11 Cases filed by the Company.

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Tabular disclosure of the loss contingencies that were reported in the period or disclosed as of the balance sheet date.

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