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DEBT OBLIGATIONS - Line of Credit (Details) - USD ($) | 12 Months Ended |
--- | --- | ---
Dec. 31, 2024 | Dec. 31, 2023 | Dec. 31, 2022 | Feb. 28, 2025
Line of Credit |  |  |  |
Line of credit, outstanding balance | $ 0 |  |  |
Amount of unamortized deferred financing costs reclassified to Escrow, deposits and other assets and receivables | 366,000 | $ 549,000 |  |
Accumulated amortization of deferred financing costs | 5,214,000 | $ 5,298,000 |  |
Line of Credit |  |  |  |
Line of Credit |  |  |  |
Maximum borrowing capacity | 100,000,000 |  |  |
Borrowing capacity available for renovation and operating expense purposes | $ 40,000,000 |  |  | $ 40,000,000
Percentage of permitted borrowing base available for renovation and operating expense purposes | 40.00% |  |  |
Basis of interest rate | 30-day SOFR |  |  |
Applicable margin at December 31 (as a percent) | 1.75% | 1.75% |  |
Unused facility fee (as a percent) | 0.25% |  |  |
Remaining amount available to be borrowed under the facility | $ 100,000,000 |  |  | $ 100,000,000
Line of Credit | Minimum |  |  |  |
Line of Credit |  |  |  |
Applicable margin (as a percent) | 1.75% |  |  |
Line of Credit | Maximum |  |  |  |
Line of Credit |  |  |  |
Applicable margin (as a percent) | 2.75% |  |  |
Line of Credit | Weighted average |  |  |  |
Line of Credit |  |  |  |
Line of credit, interest rate during the period |  | 6.69% | 3.42% |

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- Definition Percentage points added to the reference rate to compute the variable rate on the debt instrument as of the end of the period. + References No definition available. + Details
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- 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
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- 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
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- Definition Amount, after accumulated amortization, of debt issuance costs reclassified to Escrow, deposits and other assets and receivables due to outstanding balance is zero. + References No definition available. + Details
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- Definition Amount of accumulated amortization of debt issuance costs. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482900/835-30-50-1 + Details
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- Definition Percentage points added to the reference rate to compute the variable rate on the debt instrument. + References No definition available. + Details
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- 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 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(16)(a)(2)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1 + Details
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- Definition The effective interest rate during the reporting period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(19)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 + Details
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- 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 -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(19)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 + Details
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- Definition Amount of borrowing capacity currently available under the credit facility (current borrowing capacity less the amount of borrowings outstanding). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-6 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(19)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 + Details
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- 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
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