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Loans Payable (Tables) | 3 Months Ended
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Mar. 31, 2023
Debt Disclosure [Abstract] |
Schedule of Debt Obligations | Debt obligations are composed of the following at March 31, 2023 and collateralized by 12 properties:
|  |  |  | March 31, 2023
|  |  |  |  |  |  | Contractual
|  | Maturity |  | Balance |  |  | interest rates
Description |  | dates |  | outstanding |  |  | weighted-average
Fixed-rate: |  |  |  |  |  |  |
Term loan |  | Nov 2032 |  | $ | 110,000,000 |  |  | 5.3%
Term loan |  | Jan 2033 |  |  | 25,000,000 |  |  | 6.4%
|  |  |  |  | 135,000,000 |  |  | 5.5%
Unamortized issuance costs |  |  |  |  | (3,448,000 | ) |  |
|  |  |  | $ | 131,552,000 |  |  |
Effect of Derivative Financial Instruments on Condensed Consolidated Statements of Operations and Condensed Consolidated Statements of Equity | The following presents the effect of the Company’s qualifying interest rate swaps on the condensed consolidated statements of operations for the three months ended March 31, 2023 and 2022:
|  | (Loss) recognized in other |
|  | comprehensive income |
|  | reclassified into earnings (effective portion) |
|  | Three months ended March 31, |
Classification |  | 2023 |  |  | 2022 |
Continuing Operations |  | $ | — |  |  | $ | (1,362,000 | )

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- Definition Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + Details
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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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