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Loans Payable (Tables) | 6 Months Ended
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Jun. 30, 2023
Debt Disclosure [Abstract] |
Schedule of Debt Obligations | Debt obligations are composed of the following at June 30, 2023 and collateralized by 12 properties:
|  |  |  | June 30, 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 |  |  |  |  | (3,445,000 | ) |  |
|  |  |  | $ | 131,555,000 |  |  |
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 and six months ended June 30, 2023 and 2022:
|  | (Loss) recognized in other |  |  |  |  |  |  |
|  | comprehensive income |  |  |  |  |  |  |
|  | reclassified into earnings (effective portion) |  |  |  |  |  |  |
|  | Three months ended June 30, |  |  | Six months ended June 30, |
Classification |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Continuing Operations |  | $ | — |  |  | $ | (958,000 | ) |  | $ | — |  |  | $ | (2,320,000 | )

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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 -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C + 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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