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Subsequent Events
3 Months Ended
Mar. 31, 2023
Subsequent Events [Abstract]  
Subsequent Events

Note 14 – Subsequent Events

In April 2023, the Company and its joint venture partner entered into a new $148,000 loan secured by Friendly Center and The Shops at Friendly Center. Proceeds from the new loan were used to pay off two previous loans totaling $145,591. The new loan bears a fixed interest rate of 6.44% and matures in May 2028.

In April 2023, the loan secured by Cross Creek Mall was extended through May 20, 2023. The Company is in discussions with the lender regarding a long-term extension.

In April 2023, the $7,247 loan secured by The Outlet Shoppes of the Bluegrass - Phase II, an unconsolidated affiliate, was paid off.

In April 2023, the Company redeemed $46,994 in U.S. Treasury securities and purchased $40,774 in new U.S. Treasury securities with maturities through September 2023.

In May 2023, the Company redeemed $44,150 in U.S. Treasury securities and purchased $44,155 in new U.S. Treasury securities with maturities through April 2024.

In May 2023, the Operating Partnership entered into an interest rate swap with a notional amount of $32,000 to fix the interest rate at 7.3975% on $32,000 of the variable rate portion of the open-air centers and outparcels loan. The swap has a maturity date of June 7, 2027. The Company designated the swap as a cash flow hedge on its variable rate debt.