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Schedule of Debt Net (Details) (Parenthetical) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Debt Instrument [Line Items]    
Unamortized debt issuance costs [1] $ 3,350 $ 2,239
Unamortized debt discount [1] 1,721 $ 1,159
1991 Main Mezzanine Loan [Member]    
Debt Instrument [Line Items]    
Reserves $ 13,100  
Interest Rate [2],[3] 13.00%  
1991 Main Construction Loan Agreement [Member]    
Debt Instrument [Line Items]    
Interest Rate [2],[4] 3.45%  
1991 Main Construction Loan Agreement [Member] | Minimum [Member]    
Debt Instrument [Line Items]    
Interest rate 8.51%  
1000 First Construction Loan [Member]    
Debt Instrument [Line Items]    
Interest Rate [5] 3.80%  
Unamortized debt issuance costs $ 1,500  
Unamortized debt discount $ 1,100  
1000 First Construction Loan [Member] | Minimum [Member]    
Debt Instrument [Line Items]    
Interest rate 7.55%  
[1] Amounts as of June 30, 2024 exclude unamortized debt issuance costs and unamortized debt discounts of $1.5 million and $1.1 million, respectively, in relation to the 1000 First Construction Loan. Such amounts are included in Other assets in the consolidated balance sheets and will be reclassified as a component of Debt, net when amounts drawn on the construction loan exceed the costs incurred.
[2] Loan contains a one-year extension option, subject to certain restrictions.
[3] We are required to maintain an interest reserve and carry reserve for purposes of paying accrued but unpaid interest on the 1991 Main Mezzanine Loan and interest, principal and other obligations under the 1991 Main Construction Loan. Undrawn amounts were held back at closing and are being maintained by an administrative agent appointed by the lender (the “Reserves”). As interest and other obligations accrue, the Reserves balance will be reduced and be added to the principal outstanding on the 1991 Main Mezzanine Loan. As of June 30, 2024 , the Reserves balance was $13.1 million.
[4] Advances under the 1991 Main Construction Loan bear interest at a per annum rate equal to the one-month term Secured Overnight Financing Rate (“SOFR”) plus 3.45%, subject to a minimum all-in per annum rate of 8.51%. To mitigate our exposure to increases to the one-month SOFR, we have obtained an interest rate cap (see Note 9 – Derivative Instruments).
[5] Loan contains two one-year extension options, subject to certain restrictions. Advances under the 1000 First Construction Loan bear interest at a per annum rate equal to the one-month term SOFR plus 3.80%, subject to a minimum all-in per annum rate of 7.55%. To mitigate our exposure to increases to the one-month SOFR, we have obtained an interest rate cap (see Note 9 – Derivative Instruments).