XML 79 R65.htm IDEA: XBRL DOCUMENT v3.24.0.1
DEBT OBLIGATIONS - Line of Credit (Details) - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Mar. 01, 2024
Line of credit, net, balances per the consolidated balance sheets        
Line of credit, net   $ 21,068,000    
Accumulated amortization of deferred financing costs $ 5,298,000 4,791,000    
Line of Credit        
Line of Credit        
Maximum borrowing capacity 100,000,000      
Remaining amount available to be borrowed under the facility 100,000,000     $ 100,000,000
Borrowing capacity available for renovation and operating expense purposes $ 40,000,000     $ 40,000,000
Percentage of permitted borrowing base available for renovation and operating expense purposes 40.00%      
Basis of interest rate 30-day SOFR      
Unused facility fee (as a percent) 0.25%      
Line of credit, net, balances per the consolidated balance sheets        
Line of credit, gross $ 0 21,800,000    
Unamortized deferred financing costs   (732,000)    
Line of credit, net 0 $ 21,068,000    
Amount of unamortized deferred financing costs reclassified to Escrow, deposits and other assets and receivables $ 549,000      
Line of Credit | Weighted average        
Line of Credit        
Line of credit, interest rate during the period 6.69% 3.42% 1.86%  
Line of Credit | SOFR        
Line of Credit        
Applicable margin at December 31 (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%