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INVESTMENT IN UNCONSOLIDATED AND CONSOLIDATED JOINT VENTURES (Tables) | 9 Months Ended
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Sep. 30, 2025
Equity Method Investments and Joint Ventures [Abstract] |
Schedule of Condensed Statements of Operations and Balance Sheet Information of Consolidated and Unconsolidated Joint Ventures | The condensed statements of operations for the nine months ended September 30, 2025 and 2024 and condensed balance sheet information of the Company’s unconsolidated joint ventures as of September 30, 2025 and December 31, 2024 are as follows:
| Three Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024 |  | 2025 |  | 2024
| Joint Venture |  | TRC
($ in thousands) | Revenues |  | Earnings (Loss) |  | Equity in Earnings (Loss)
Petro Travel Plaza Holdings, LLC | $ | 36,820 |  |  | $ | 40,446 |  |  | $ | 3,221 |  |  | $ | 4,641 |  |  | $ | 1,933 |  |  | $ | 2,785 |
TRCC/Rock Outlet Center LLC 1 | 1,698 |  |  | 1,644 |  |  | (647) |  |  | (994) |  |  | (323) |  |  | (497) |
TRC-MRC 1, LLC | 1,289 |  |  | 1,278 |  |  | 434 |  |  | 446 |  |  | 217 |  |  | 224 |
TRC-MRC 2, LLC | 1,737 |  |  | 1,785 |  |  | 975 |  |  | 1,111 |  |  | 488 |  |  | 555 |
TRC-MRC 3, LLC | 1,103 |  |  | 1,082 |  |  | 177 |  |  | 216 |  |  | 89 |  |  | 107 |
TRC-MRC 4, LLC | 1,915 |  |  | 1,875 |  |  | 176 |  |  | 183 |  |  | 88 |  |  | 93 |
TRC-MRC 5, LLC | 1,733 |  |  | 1,710 |  |  | 129 |  |  | 126 |  |  | 63 |  |  | 62 |
Total | $ | 46,295 |  |  | $ | 49,820 |  |  | $ | 4,465 |  |  | $ | 5,729 |  |  | $ | 2,555 |  |  | $ | 3,329 |
Centennial Founders, LLC | $ | 20 |  |  | $ | — |  |  | $ | 16 |  |  | $ | (9) |  |  | Consolidated
1 Revenues for TRCC/Rock Outlet Center LLC are presented net of non-cash tenant allowance amortization of $0.3 million and $0.3 million for the three months ended September 30, 2025 and September 30, 2024, respectively.
| Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024 |  | 2025 |  | 2024
| Joint Venture |  | TRC
($ in thousands) | Revenues |  | Earnings (Loss) |  | Equity in Earnings (Loss)
Petro Travel Plaza Holdings, LLC | $ | 105,718 |  |  | $ | 116,344 |  |  | $ | 7,594 |  |  | $ | 10,006 |  |  | $ | 4,557 |  |  | $ | 6,004 |
TRCC/Rock Outlet Center LLC 1 | 4,889 |  |  | 5,148 |  |  | (2,383) |  |  | (2,259) |  |  | (1,191) |  |  | (1,130) |
TRC-MRC 1, LLC | 3,865 |  |  | 3,135 |  |  | 1,359 |  |  | 749 |  |  | 680 |  |  | 375 |
TRC-MRC 2, LLC | 5,332 |  |  | 4,980 |  |  | 3,020 |  |  | 2,887 |  |  | 1,510 |  |  | 1,443 |
TRC-MRC 3, LLC | 3,329 |  |  | 3,268 |  |  | 666 |  |  | 643 |  |  | 333 |  |  | 321 |
TRC-MRC 4, LLC | 5,768 |  |  | 5,837 |  |  | 530 |  |  | 826 |  |  | 265 |  |  | 414 |
TRC-MRC 5, LLC | 5,165 |  |  | 4,680 |  |  | 230 |  |  | 369 |  |  | 114 |  |  | 184 |
Total | $ | 134,066 |  |  | $ | 143,392 |  |  | $ | 11,016 |  |  | $ | 13,221 |  |  | $ | 6,268 |  |  | $ | 7,611 |
Centennial Founders, LLC | $ | 20 |  |  | $ | 66 |  |  | $ | (38) |  |  | $ | (22) |  |  | Consolidated
1 Revenues for TRCC/Rock Outlet Center LLC are presented net of non-cash tenant allowance amortization of $0.5 million and $1.0 million for the nine months ended September 30, 2025 and September 30, 2024, respectively.
| September 30, 2025 |  | December 31, 2024
| Joint Venture | TRC |  | Joint Venture | TRC
($ in thousands) | Assets | Debt | Equity (Deficit) | Equity |  | Assets | Debt | Equity (Deficit) | Equity
Petro Travel Plaza Holdings, LLC | $ | 78,374 |  | $ | (11,221) |  | $ | 61,165 |  | $ | 24,380 |  |  | $ | 73,558 |  | $ | (11,793) |  | $ | 53,571 |  | $ | 19,823 |
TRCC/Rock Outlet Center LLC | 53,823 |  | (20,271) |  | 32,449 |  | 8,400 |  |  | 54,533 |  | (20,545) |  | 32,832 |  | 8,592 |
TRC-MRC 1, LLC | 23,979 |  | (20,943) |  | 2,300 |  | — |  |  | 24,539 |  | (21,470) |  | 2,591 |  | — |
TRC-MRC 2, LLC | 22,107 |  | (20,684) |  | 876 |  | 312 |  |  | 21,552 |  | (21,234) |  | 768 |  | 77 |
TRC-MRC 3, LLC | 33,774 |  | (32,017) |  | 1,349 |  | 38 |  |  | 34,436 |  | (32,722) |  | 2,529 |  | 142 |
TRC-MRC 4, LLC | 47,688 |  | (60,211) |  | (13,724) |  | — |  |  | 49,118 |  | (60,906) |  | (10,664) |  | — |
TRC-MRC 5, LLC | 49,098 |  | (52,222) |  | (2,690) |  | — |  |  | 49,556 |  | (52,795) |  | (643) |  | — |
TRC-DP1, LLC | — |  | — |  | — |  | 624 |  |  | — |  | — |  | — |  | 346 |
Total | $ | 308,843 |  | $ | (217,569) |  | $ | 81,725 |  | $ | 33,754 |  |  | $ | 307,292 |  | $ | (221,465) |  | $ | 80,984 |  | $ | 28,980 |
Centennial Founders, LLC | $ | 108,524 |  | $ | — |  | $ | 108,228 |  | *** |  | $ | 107,015 |  | $ | — |  | $ | 106,766 |  | ***
*** Centennial Founders, LLC, is consolidated within the Company's financial statements.

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