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Contingencies (Tables)
6 Months Ended
Jun. 30, 2022
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 June 30, 2022 and December 31, 2021:

 

 

 

As of June 30, 2022

 

 

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)

 

 

June 30, 2022

 

 

December 31, 2021

 

West Melbourne I, LLC - Phase I

 

50%

 

 

$

38,331

 

 

50%

 

 

 

$

19,165

 

 

Feb-2025

(2)

 

$

191

 

 

$

195

 

West Melbourne I, LLC - Phase II

 

50%

 

 

 

13,579

 

 

50%

 

 

 

 

6,789

 

 

Feb-2025

(2)

 

 

68

 

 

 

69

 

Port Orange I, LLC

 

50%

 

 

 

50,547

 

 

50%

 

 

 

 

25,274

 

 

Feb-2025

(2)

 

 

253

 

 

 

258

 

Ambassador Infrastructure, LLC

 

65%

 

 

 

7,001

 

 

100%

 

 

 

 

7,001

 

 

Mar-2025

 

 

 

70

 

 

 

83

 

Shoppes at Eagle Point, LLC

 

50%

 

 

 

39,961

 

 

 

 

 

 

 

 

 

May-2032

(3)

 

 

 

 

 

127

 

Atlanta Outlet JV, LLC

 

50%

 

 

 

4,406

 

 

100%

 

 

 

 

4,406

 

 

Nov-2023

 

 

 

 

 

 

 

Louisville Outlet Shoppes, LLC

 

50%

 

 

 

7,797

 

 

100%

 

 

 

 

7,797

 

 

Oct-2022

 

 

 

 

 

 

 

Total guaranty liability

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

582

 

 

$

732

 

(1)

Excludes any extension options.

(2)

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

(3)

The guaranty was removed when the Company entered into a new loan in April 2022.