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Debt (Tables) | 12 Months Ended
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Dec. 31, 2016
Debt [Abstract] |
Summary Of Notes Payable |
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  |  | As of December 31, 2016
﻿(Dollars in thousands) |  | Maturity Date |  | Contractual Facility |  | Balance, Gross |  | Balance, Net(3) |  | Stated Interest Rate |  | Effective Interest Rate (1)
﻿Denominated in USD |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ | Trust Preferred Securities (USA) |  | April 30, 2027 |  | $ | 27,913 |  | $ | 27,913 |  | $ | 27,340 |  | 4.89% |  | 5.20%
﻿ | Bank of America Credit Facility (USA) |  | November 28, 2019 |  |  | 55,000 |  |  | 39,950 |  |  | 39,759 |  | 3.27% |  | 3.90%
﻿ | Bank of America Line of Credit (USA) |  | October 31, 2019 |  |  | 5,000 |  |  | -- |  |  | -- |  | 3.77% |  | 3.77%
﻿ | Cinema 1, 2, 3 Term Loan (USA)(4) |  | September 1, 2019 |  |  | 20,000 |  |  | 19,901 |  |  | 19,356 |  | 3.25% |  | 3.25%
﻿ | Minetta & Orpheum Theatres Loan (USA)(4) |  | June 1, 2018 |  |  | 7,500 |  |  | 7,500 |  |  | 7,398 |  | 3.38% |  | 3.38%
﻿ | U.S. Corporate Office Term Loan (USA)(4) |  | January 1, 2027 |  |  | 8,363 |  |  | 8,363 |  |  | 8,239 |  | 4.64% |  | 4.64%
﻿ | Union Square Construction Financing (USA)(5) |  | December 29, 2019 |  |  | 57,500 |  |  | 8,000 |  |  | 4,751 |  | 4.52% |  | 4.52%
﻿Denominated in foreign currency ("FC")(2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ | NAB Corporate Loan Facility (AU) |  | June 30, 2019 |  |  | 48,080 |  |  | 28,558 |  |  | 28,421 |  | 2.64% |  | 2.64%
﻿ | Westpac Bank Corporate Credit Facility (NZ) |  | March 31, 2018 |  |  | 36,877 |  |  | 8,350 |  |  | 8,350 |  | 3.80% |  | 3.80%
﻿Total |  |  |  |  | $ | 266,233 |  | $ | 148,535 |  | $ | 143,614 |  |  |  |
﻿ (1) Effective interest rate includes the impact of interest rate derivatives hedging the interest rate risk associated with Trust Preferred Securities and Bank of America Credit Facility that were outstanding as of December 31, 2016. (2) The contractual facilities and outstanding balances of the FC-denominated borrowings were translated into U.S. dollars based on the applicable exchange rates as of December 31, 2016. (3) Net of deferred financing costs amounting to $4.9 million. (4) The loan for our Minetta & Orpheum Theatres was obtained from Santander Bank. The term loan for our Cinema 1,2,3 Theatr e, which was previously provided by Santander Bank, was refinanced during the third quarter of 2016 with Valley National Bank. The new term loan, which is collateralized by our new U.S Corporate Headquarters office building purchased in April 2016, was obtained with Citizens Asset Finance, Inc. during the fourth quarter of 2016. Refer below for further discussions on these new loan arrangements. (5) In December 2016, we successfully negotiated the construction financing for our Union Square redevelopment project, $8.0 million of which was advanced from the total construction loan limit of $57.5 million to repay the existing line of credit with East West Bank, which was originally scheduled to mature on July 2, 2017. Refer below for further discussions on this construction financing. ﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  |  | As of December 31, 2015
﻿(Dollars in thousands) |  | Maturity Date |  | Contractual Facility |  | Balance, Gross |  | Balance, Net(3) |  | Stated Interest Rate |  | Effective Interest Rate (1)
﻿Denominated in USD |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ | Trust Preferred Securities (USA) |  | April 30, 2027 |  | $ | 27,913 |  | $ | 27,913 |  | $ | 27,125 |  | 4.32% |  | 5.20%
﻿ | Bank of America Credit Facility (USA) |  | November 28, 2019 |  |  | 55,000 |  |  | 29,750 |  |  | 29,321 |  | 2.92% |  | 3.65%
﻿ | Bank of America Line of Credit (USA) |  | October 31, 2017 |  |  | 5,000 |  |  | 2,500 |  |  | 2,500 |  | 3.42% |  | 3.42%
﻿ | Cinema 1, 2, 3 Term Loan (USA)(4) |  | July 1, 2016 |  |  | 15,000 |  |  | 15,000 |  |  | 14,887 |  | 3.75% |  | 3.75%
﻿ | Cinema 1, 2, 3 Line of Credit (USA)(4) |  | July 1, 2016 |  |  | 6,000 |  |  | -- |  |  | -- |  | 3.75% |  | 3.75%
﻿ | Minetta & Orpheum Theatres Loan (USA)(4) |  | June 1, 2018 |  |  | 7,500 |  |  | 7,500 |  |  | 7,326 |  | 3.00% |  | 3.00%
﻿ | Union Square Line of Credit (USA)(4) |  | July 2, 2017 |  |  | 8,000 |  |  | 8,000 |  |  | 7,858 |  | 3.65% |  | 3.65%
﻿Denominated in FC (2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ | NAB Corporate Loan Facility (AU) |  | June 30, 2019 |  |  | 48,452 |  |  | 26,594 |  |  | 26,412 |  | 3.06% |  | 3.06%
﻿ | Westpac Bank Corporate Credit Facility (NZ) |  | March 31, 2018 |  |  | 34,210 |  |  | 13,684 |  |  | 13,684 |  | 4.45% |  | 4.45%
﻿Total |  |  |  |  | $ | 207,075 |  | $ | 130,941 |  | $ | 129,113 |  |  |  |
(1) Effective interest rate includes the impact of interest rate derivatives hedging the interest rate risk associated with Trust Preferred Securities and Bank of America Credit Facility that were outstanding as of December 31, 2015. (2) The contractual facilities and outstanding balances of the FC-denominated borrowings were translated into U.S. dollar based on the applicable exchange rates as of December 31, 2015. (3) The balance as of December 31, 2015 included the reclassification adjustment relating to netting of deferred financing costs amounting to $1.8 million, as discussed in Note 2 – Summary of Significant Accounting Policies – Recently Adopted and Issued Accounting Pronouncements. (4) In 2015, the loans for our Cinema 1,2,3 and Minetta & Orpheum Theatres were obtained from Bank of Santander, while the Union Square line of credit was obtained through East West Bank.
Schedule Of Long-term Debt Instruments, Net Of The Deferred Financing Costs |
﻿ |  |  |  |  |  |
﻿ |  | Dollars in thousands
﻿Balance Sheet Caption |  | December 31, 2016 |  | December 31, 2015
﻿Debt - current portion |  | $ | 567 |  | $ | 14,887
﻿Debt - long-term portion |  |  | 115,707 |  |  | 87,101
﻿Subordinated debt |  |  | 27,340 |  |  | 27,125
﻿Total borrowings |  | $ | 143,614 |  | $ | 129,113
﻿
Schedule Of Construction Financing |
﻿(Dollars in thousands) |  |  |  |  | Facility Limits and Advances |  |  |  |
﻿Financing Component |  | Lender |  | Facility Limit |  | Advanced-to- Date |  | Remaining Facility |  | Interest Rate(1) |  | Maturity Date(2)
﻿Mezzanine loan |  | Tammany Mezz Investor LLC |  | $ | 7,500 |  | $ | -- |  | $ | 7,500 |  | Greater of (i) 10.50% and (ii) Adjusted LIBOR + 10% |  | December 29, 2019
﻿Senior loan |  | Bank of the Ozarks |  |  | 8,000 |  |  | 8,000 |  |  | -- |  | Greater of (i) 4.75% and (ii) Adjusted LIBOR + 4.25% |  | December 29, 2019
﻿Building loan |  | Bank of the Ozarks |  |  | 31,130 |  |  | -- |  |  | 31,130 |  | Greater of (i) 4.75% and (ii) Adjusted LIBOR + 4.25% |  | December 29, 2019
﻿Project loan |  | Bank of the Ozarks |  |  | 10,870 |  |  | -- |  |  | 10,870 |  | Greater of (i) 4.75% and (ii) Adjusted LIBOR + 4.25% |  | December 29, 2019
﻿Total Union Square Financing |  |  |  | $ | 57,500 |  | $ | 8,000 |  | $ | 49,500 |  |  |  |
﻿ (1) Not to exceed the New York State maximum lawful borrowing rate, which typically is 16%. (2) Allowable for up to two (2) extension request options, one (1) year for each extension request.
Schedule Of Future Principal Loan Payments |
﻿ |  |  |
﻿(Dollars in thousands) |  | Future Principal Debt Payments
﻿2017 |  | $ | 567
﻿2018 |  |  | 16,453
﻿2019 |  |  | 95,793
﻿2020 |  |  | 208
﻿2021 |  |  | 218
﻿Thereafter |  |  | 35,296
﻿ Total future principal debt payments |  | $ | 148,535
﻿

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