XML 82 R48.htm IDEA: XBRL DOCUMENT
v3.22.4

Secured Line of Credit (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Secured Line Of Credit Facility [Member] |
Line of Credit Facility [Line Items] |
Summary of Lines of Credit | The following table summarizes the secured lines of credit as of December 31, 2022 and 2021:
Secured Lines of Credit |  | Outstanding as of December 31, 2022 |  |  | Total Commitment |  |  | Commitment Maturity |  | Variable / Fixed |  | Reset Frequency |  | Period End Rate |
BankUnited General LOC |  | $ | 6,500,000 |  |  | $ | 40,000,000 |  |  | June 2023 (1) |  | Variable (2) |  | Monthly |  |  | 7.42 | %
Bankers Trust Acquisition LOC |  |  | 49,000,000 |  |  |  | 50,000,000 |  |  | June 2024 (3) |  | Variable (4) |  | Monthly |  |  | 6.68 | %
|  | $ | 55,500,000 |  |  | $ | 90,000,000 |  |  |  |  |  |  |  |  |  |
(1) The General LOC contains two one-year extensions subject to certain conditions and payment of a 0.25% extension fee. The first extension request by the Partnership will be granted by BankUnited, N.A. (“BankUnited”) if all such conditions are met. Any subsequent extension requested by the Partnership will be granted or denied in the sole discretion of the lenders. (2) The variable rate is equal to LIBOR + 3.25%, subject to an all-in floor of 3.50%. The secured credit agreement contains terms for selecting an alternative index if LIBOR is no longer available. (3) The Partnership has two one-year extension options subject to certain conditions and payment of a $25,000 extension fee. (4) The variable rate is equal to 2.50% plus a variable component based on the 1-month forward looking term Secured Overnight Financing Rate as published by CME Group Benchmark Administration Limited (“Term SOFR”).
Secured Lines of Credit |  | Outstanding as of December 31, 2021 |  |  | Total Commitment |  |  | Commitment Maturity |  | Variable / Fixed |  | Reset Frequency |  | Period End Rate |
BankUnited General LOC |  | $ | 6,500,000 |  |  | $ | 40,000,000 |  |  | June 2023 (1) |  | Variable (2) |  | Monthly |  |  | 3.50 | %
Bankers Trust Acquisition LOC |  |  | 39,214,000 |  |  |  | 50,000,000 |  |  | June 2023 |  | Variable (3) |  | Monthly |  |  | 3.10 | %
|  | $ | 45,714,000 |  |  | $ | 90,000,000 |  |  |  |  |  |  |  |  |  |
(1) The General LOC contains two one-year extensions subject to certain conditions and payment of a 0.25% extension fee. The first extension request by the Partnership will be granted by BankUnited if all such conditions are met. Any subsequent extension requested by the Partnership will be granted or denied in the sole discretion of the lenders. (2) The variable rate is equal to LIBOR + 3.25%, subject to an all-in floor of 3.50%. (3) The variable rate is equal to the greater of (i) the Prime Rate or (ii) 3.25% per annum; plus or minus a margin varying from 0.35% to (0.65%) depending upon the ratio of the Partnership’s senior debt to market value of assets.

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_LineOfCreditFacilityLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_ScheduleOfLineOfCreditFacilitiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=us-gaap_SecuredDebtMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |