XML 60 R49.htm IDEA: XBRL DOCUMENT
v3.21.2

DEBT OBLIGATIONS - Line of Credit (Details) - USD ($) | 6 Months Ended |  |  |  |
--- | --- | --- | --- | --- | ---
Jun. 30, 2021 | Jun. 30, 2020 | Jul. 01, 2022 | Jun. 30, 2022 | Aug. 02, 2021 | Dec. 31, 2020
Line of Credit |  |  |  |  |  |
Amount reclassified unamortized deferred financing costs to escrow, deposits, and other assets and receivables | $ 323,000 |  |  |  |  |
Line of credit, net, balances per the consolidated balance sheets |  |  |  |  |  |
Line of credit, net |  |  |  |  |  | $ 12,525,000
Line of Credit |  |  |  |  |  |
Line of Credit |  |  |  |  |  |
Maximum borrowing capacity | 100,000,000 |  |  |  |  |
Borrowing capacity available for renovation and operating expense purposes | $ 30,000,000 |  |  |  |  |
Percentage of permitted borrowing base available for renovation and operating expense purposes | 30.00% |  |  |  |  |
Borrowing capacity available for operating expense purposes | $ 20,000,000 |  |  |  | $ 20,000,000 |
Borrowing capacity available for renovation expenses purposes | $ 10,000,000 |  |  |  |  |
Unused facility fee (as a percent) | 0.25% |  |  |  |  |
Line of credit, interest rate during the period | 1.86% | 2.86% |  |  |  |
Line of credit, net, balances per the consolidated balance sheets |  |  |  |  |  |
Line of credit, gross | $ 0 |  |  |  |  | 12,950,000
Unamortized deferred financing costs | $ 0 |  |  |  |  | (425,000)
Line of credit, net |  |  |  |  | $ 0 | $ 12,525,000
Line of Credit | LIBOR |  |  |  |  |  |
Line of Credit |  |  |  |  |  |
Basis of interest rate | one month LIBOR |  |  |  |  |
Applicable margin (as a percent) | 1.75% | 2.00% |  |  |  |
Line of Credit | LIBOR | Minimum |  |  |  |  |  |
Line of Credit |  |  |  |  |  |
Applicable margin (as a percent) | 1.75% |  |  |  |  |
Line of Credit | LIBOR | Maximum |  |  |  |  |  |
Line of Credit |  |  |  |  |  |
Applicable margin (as a percent) | 3.00% |  |  |  |  |
March 2021 Amendment | Forecast |  |  |  |  |  |
Line of Credit |  |  |  |  |  |
Borrowing capacity available for operating expense purposes |  |  | $ 10,000,000 |  |  |
Borrowing capacity available for renovation expenses purposes |  |  | $ 20,000,000 |  |  |
Threshold amount of outstanding balances used for operating expenses above which must be repaid immediately |  |  |  | $ 10,000,000 |  |

X
- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit before netting of deferred finance costs, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) post balance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancellable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. + References No definition available. + Details
Name: | olp_LineOfCreditBeforeNettingOfDeferredFinancingCosts
Namespace Prefix: | olp_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition The maximum amount of borrowing capacity under a line of credit that is available as of the balance sheet date for operating expense purposes. + References No definition available. + Details
Name: | olp_LineOfCreditFacilityCapacityAvailableForOperatingExpensePurposes
Namespace Prefix: | olp_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition The maximum amount of borrowing capacity under a line of credit that is available as of the balance sheet date for renovation and operating expense purposes. + References No definition available. + Details
Name: | olp_LineOfCreditFacilityCapacityAvailableForRenovationAndOperatingExpensePurposes
Namespace Prefix: | olp_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition The maximum amount of borrowing capacity under a line of credit that is available as of the balance sheet date for renovation expenses. + References No definition available. + Details
Name: | olp_LineOfCreditFacilityCapacityAvailableForRenovationExpenses
Namespace Prefix: | olp_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition The maximum percentage of the borrowing capacity under a line of credit that is available as of the balance sheet date for renovation and operating expense purposes. + References No definition available. + Details
Name: | olp_LineOfCreditFacilityMaximumBorrowingCapacityPercentageAvailableForSpecificPurposeOtherThanForTradePurchases
Namespace Prefix: | olp_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | instant

X
- References No definition available. + Details
Name: | olp_LineOfCreditFacilityNetAbstract
Namespace Prefix: | olp_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The threshold amount of the line of credit outstanding balance used for operating expenses above which must be repaid immediately at the end of the agreement term. + References No definition available. + Details
Name: | olp_LineOfCreditThresholdAmountOfOutstandingBalancesUsedForOperatingExpensesAboveWhichMustBeRepaidImmediately
Namespace Prefix: | olp_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Represents the amount of reclassified unamortized deferred financing costs to escrow, deposits, and other assets and receivables. + References No definition available. + Details
Name: | olp_ReclassificationOfUnamortizedDeferredFinancingCostsToEscrowDepositsAndOtherAssetsAndReceivables
Namespace Prefix: | olp_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Percentage points added to the reference rate to compute the variable rate on the debt instrument. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition The reference rate for the variable rate of the debt instrument, such as LIBOR or the US Treasury rate and the maturity of the reference rate used, such as three months or six months LIBOR. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentDescriptionOfVariableRateBasis
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount, after accumulated amortization, of debt issuance costs. Includes, but is not limited to, legal, accounting, underwriting, printing, and registration costs. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.17) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28555-108399 + Details
Name: | us-gaap_DeferredFinanceCostsNet
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(16)) -URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910 + Details
Name: | us-gaap_LineOfCredit
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- References No definition available. + Details
Name: | us-gaap_LineOfCreditFacilityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The effective interest rate during the reporting period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_LineOfCreditFacilityInterestRateDuringPeriod
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition The fee, expressed as a percentage of the line of credit facility, for available but unused credit capacity under the credit facility. + References No definition available. + Details
Name: | us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_CreditFacilityAxis=us-gaap_LineOfCreditMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_VariableRateAxis=us-gaap_LondonInterbankOfferedRateLIBORMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RangeAxis=srt_MinimumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RangeAxis=srt_MaximumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_CreditFacilityAxis=olp_March2021AmendmentMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_StatementScenarioAxis=srt_ScenarioForecastMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |