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Contingencies (Tables)
12 Months Ended
Dec. 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 consolidated balance sheets as of December 31, 2023 and 2022:

 

 

As of December 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)

 

December 31, 2023

 

 

December 31, 2022

 

West Melbourne I, LLC - Phase I

 

50%

 

$

35,337

 

 

50%

 

$

17,669

 

 

Feb-2025

(2)

$

177

 

 

$

185

 

West Melbourne I, LLC - Phase II

 

50%

 

 

11,106

 

 

50%

 

 

5,553

 

 

Feb-2025

(2)

 

56

 

 

 

59

 

Port Orange I, LLC

 

50%

 

 

47,148

 

 

50%

 

 

23,574

 

 

Feb-2025

(2)

 

236

 

 

 

247

 

Ambassador Infrastructure, LLC

 

65%

 

 

5,749

 

 

100%

 

 

5,749

 

 

Mar-2025

 

 

57

 

 

 

70

 

CBL-TRS Med OFC Holding, LLC (3)

 

50%

 

 

83

 

 

100%

 

 

3,895

 

 

Jun-2030

 

 

19

 

 

 

 

Total guaranty liability

 

 

 

 

 

 

 

 

 

 

 

 

 

$

545

 

 

$

561

 

(1)
Excludes any extension options.
(2)
These loans have a one-year extension option at the joint venture’s election.
(3)
The Operating Partnership has guaranteed the construction debt of CBL DMC I, LLC, a joint venture in which CBL-TRS Med OFC Holding, LLC owns a 50% interest.