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Organization, Properties, Basis of Presentation, Financial Instruments and Recent Accounting Standards (Tables)
9 Months Ended
Sep. 30, 2023
Summary of the entity's investment in real estate assets, including number of properties and rentable square feet of real estate

As of September 30,

 

    

2023

    

2022

 

Owned and Consolidated Properties:

Number of properties (1)

 

20

 

22

Rentable square feet

 

6,206,460

 

6,433,954

Reconciliation of cash, cash equivalents, and restricted cash

    

September 30,

    

September 30,

(in thousands)

2023

2022

Cash and cash equivalents (1)

$

13,043

$

6,367

Restricted cash

 

 

2,350

Total cash, cash equivalents and restricted cash

$

13,043

$

8,717

(1)Includes $2,445 at September 30, 2023, pertaining to Monument Circle, which the Company is unable to utilize for its own operational purposes.
Fair value of assets acquired at consolidation of VIE

(in thousands)

Real estate assets

$

19,695

Value of acquired real estate leases

305

Total

$

20,000

Quantitative information about significant unobservable inputs of Level 3 measurement

    

Fair Value (1) at

    

  

Significant

    

Range

Weighted

Description

December 31, 2022

Valuation Technique

Unobservable Input

Min

Max

 

Average (2)

(in thousands)

 

Sponsored REIT Loan

$

19,763

 

Discounted Cash Flows

Exit Cap Rate

 

7.50

%

7.50

%

7.50

%

Discount Rate

9.50

%

9.50

%

9.50

%

(1) Classified within Level 3 of the fair value hierarchy.

(2) Unobservable inputs were weighted based on the fair value of the related instrument.

Variable interest entities ("VIEs")  
Quantitative information about significant unobservable inputs of Level 3 measurement

    

Fair Value (1) at

    

  

Significant

    

Range

Weighted

Description

January 1, 2023

Valuation Technique

Unobservable Input

Min

Max

 

Average (2)

(in thousands)

 

Monument Circle Consolidation

$

20,000

 

Discounted Cash Flows

Exit Cap Rate

 

7.50

%

7.50

%

7.50

%

Discount Rate

9.50

%

9.50

%

9.50

%

(1) Classified within Level 3 of the fair value hierarchy.

(2) Unobservable inputs were weighted based on the fair value of the related instrument.