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DEBT OBLIGATIONS - Line of Credit (Details) - USD ($)
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Nov. 01, 2023
Dec. 31, 2022
Line of credit, net, balances per the consolidated balance sheets        
Line of credit, net $ 11,906,000     $ 21,068,000
Line of Credit        
Line of Credit        
Maximum borrowing capacity 100,000,000      
Borrowing capacity available for renovation and operating expense purposes $ 40,000,000      
Percentage of permitted borrowing base available for renovation and operating expense purposes 40.00%      
Unused facility fee (as a percent) 0.25%      
Amount available to be borrowed under the facility $ 87,500,000   $ 77,500,000  
Remaining borrowing capacity available for renovation and operating expense purposes 36,000,000   $ 26,000,000  
Line of credit, net, balances per the consolidated balance sheets        
Line of credit, gross 12,500,000     21,800,000
Unamortized deferred financing costs (594,000)     (732,000)
Line of credit, net $ 11,906,000     $ 21,068,000
Line of Credit | Weighted average        
Line of Credit        
Line of credit, interest rate during the period 6.60% 2.74%    
Line of Credit | SOFR        
Line of Credit        
Basis of interest rate 30-day SOFR      
Applicable margin (as a percent) 1.75% 1.75%    
Line of Credit | SOFR | Minimum        
Line of Credit        
Applicable margin (as a percent) 1.75%      
Line of Credit | SOFR | Maximum        
Line of Credit        
Applicable margin (as a percent) 2.75%