XML 59 R49.htm IDEA: XBRL DOCUMENT v3.22.2.2
DEBT OBLIGATIONS - Line of Credit (Details) - USD ($)
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Nov. 01, 2022
Dec. 31, 2021
Line of credit, net, balances per the consolidated balance sheets        
Line of credit, net $ 10,946,000     $ 11,484,000
Line of Credit        
Line of Credit        
Maximum borrowing capacity 100,000,000      
Amount available to be borrowed under the facility $ 89,000,000   $ 86,200,000  
Unused facility fee (as a percent) 0.25%      
Borrowing capacity available for renovation and operating expense purposes $ 30,000,000   $ 30,000,000  
Percentage of permitted borrowing base available for renovation and operating expense purposes 30.00%      
Borrowing capacity available for renovation expenses purposes $ 20,000,000      
Borrowing capacity available for operating expense purposes 10,000,000      
Line of credit, net, balances per the consolidated balance sheets        
Line of credit, gross 11,000,000     11,700,000
Unamortized deferred financing costs (54,000)     (216,000)
Line of credit, net $ 10,946,000     $ 11,484,000
Line of Credit | Weighted average        
Line of Credit        
Line of credit, interest rate during the period 2.74% 1.86%    
Line of Credit | LIBOR        
Line of Credit        
Basis of interest rate 30-day LIBOR      
Applicable margin (as a percent) 1.75% 1.75%    
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%