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Contingencies (Tables)
3 Months Ended
Mar. 31, 2023
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, 2023 and December 31, 2022:

 

 

As of March 31, 2023

 

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, 2023

 

 

December 31, 2022

 

West Melbourne I, LLC - Phase I

 

50%

 

$

36,570

 

 

50%

 

$

18,285

 

 

Feb-2025

(2)

$

183

 

 

$

185

 

West Melbourne I, LLC - Phase II

 

50%

 

 

11,673

 

 

50%

 

 

5,837

 

 

Feb-2025

(2)

 

58

 

 

 

59

 

Port Orange I, LLC

 

50%

 

 

48,948

 

 

50%

 

 

24,474

 

 

Feb-2025

(2)

 

245

 

 

 

247

 

Ambassador Infrastructure, LLC

 

65%

 

 

5,749

 

 

100%

 

 

5,749

 

 

Mar-2025

 

 

70

 

 

 

70

 

Atlanta Outlet JV, LLC

 

50%

 

 

4,375

 

 

100%

 

 

4,375

 

 

Nov-2023

 

 

 

 

 

 

Louisville Outlet Shoppes, LLC (3)

 

50%

 

 

7,247

 

 

100%

 

 

7,247

 

 

Apr-2023

 

 

 

 

 

 

Total guaranty liability

 

 

 

 

 

 

 

 

 

 

 

 

 

$

556

 

 

$

561

 

(1)
Excludes any extension options.
(2)
These loans have a one-year extension option at the joint venture’s election.
(3)
Subsequent to March 31, 2023, the loan was paid off. See Note 14.