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Contingencies (Tables)

9 Months Ended

Sep. 30, 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 September 30, 2021 and December 31, 2020:

		As of September 30, 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)			September 30, 2021				December 31, 2020
West Melbourne I, LLC - Phase I		50%				$	39,326			50%					$	19,663			Feb-2025	(2)		$	197			$	201
West Melbourne I, LLC - Phase II		50%					14,034			50%						7,017			Feb-2025	(2)			70				72
Port Orange I, LLC		50%					51,998			50%						25,999			Feb-2025	(2)			260				266
Ambassador Infrastructure, LLC		65%					8,250			100%						8,250			Mar-2025				83				94
Shoppes at Eagle Point, LLC		50%					34,135			35%			(3)			12,740			Oct-2021				127				127
EastGate Storage, LLC		50%					6,460			50%			(4)			3,230			Dec-2022				32				33
Self Storage at Mid Rivers, LLC		50%					5,941			50%			(4)			2,971			Apr-2023				30				30
Parkdale Self Storage, LLC		50%					6,462			100%			(5)			6,500			Jul-2024				65				65
Hamilton Place Self Storage, LLC		54%					6,863			50%			(4)			3,501			Sep-2024				35				35
Atlanta Outlet JV, LLC		50%					4,504			100%						4,504			Nov-2023				—				—
Louisville Outlet Shoppes, LLC		50%					8,512			100%						8,512			Oct-2021				—				—
Total guaranty liability																						$	899			$	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. Subsequent to September 30, 2021, the joint venture exercised the one-year extension option on the loan for an extended maturity date of October 2022. See Note 15.

(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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