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CONTINGENCIES (Tables)
12 Months Ended
Dec. 31, 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 consolidated balance sheets as of December 31, 2022 and 2021:

 

 

As of December 31, 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)

 

December 31, 2022

 

 

December 31, 2021

 

West Melbourne I, LLC - Phase I

 

50%

 

$

36,947

 

 

50%

 

 

$

18,474

 

 

Feb-2025

(2)

$

185

 

 

$

195

 

West Melbourne I, LLC - Phase II

 

50%

 

 

11,846

 

 

50%

 

 

 

5,923

 

 

Feb-2025

(2)

 

59

 

 

 

69

 

Port Orange I, LLC

 

50%

 

 

49,498

 

 

50%

 

 

 

24,749

 

 

Feb-2025

(2)

 

247

 

 

 

258

 

Ambassador Infrastructure, LLC

 

65%

 

 

7,001

 

 

100%

 

 

 

7,001

 

 

Mar-2025

 

 

70

 

 

 

83

 

Shoppes at Eagle Point, LLC

 

50%

 

 

39,683

 

 

 

 

 

 

 

 

May-2032

(3)

 

 

 

 

127

 

Atlanta Outlet JV, LLC

 

50%

 

 

4,383

 

 

100%

 

 

 

4,383

 

 

Nov-2023

 

 

 

 

 

 

Louisville Outlet Shoppes, LLC

 

50%

 

 

7,397

 

 

100%

 

 

 

7,397

 

 

Apr-2023

 

 

 

 

 

 

Total guaranty liability

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

561

 

 

$

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.