Annual report pursuant to Section 13 and 15(d)

Credit Facility, Notes Payable and Derivative Instruments (Details)

v3.20.4
Credit Facility, Notes Payable and Derivative Instruments (Details)
$ in Thousands
 12 Months Ended
Jul. 31, 2020
USD ($)
Apr. 27, 2020
USD ($)
Mar. 31, 2016
USD ($)
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Sep. 25, 2015
Sep. 15, 2015
USD ($)
Notes Payable and Revolving Credit Facility                
Debt issuance and related costs       $ 342 $ 0      
Amortization of Financing Costs       174 132 $ 131    
Other Operating Activities, Cash Flow Statement       238,400 244,250      
Increase (Decrease) in Security Deposits       129 2,199 2,024    
Repayments of Lines of Credit       $ 64,550 $ 173,175      
Debt Instrument, Term       2 years 9 months 14 days 3 years 9 months 3 days      
Long-term Debt, Gross       $ 66,349 $ 39,475      
Line Of Credit Cash Paid Other       952 1,039      
Additional Interest Expense       6,211        
Interest Expense, Total       $ 18,680 $ 17,472 14,975    
Weighted average interest rate basis       3.17% 3.90%      
Interest Rate Swap [Member]                
Notes Payable and Revolving Credit Facility                
Derivative Instruments in Hedges, Liabilities, at Fair Value       $ 18,086 $ 6,491      
Credit Facility [Member]                
Notes Payable and Revolving Credit Facility                
Maximum consolidated leverage ratio under financial covenants       0.60        
Fixed charge coverage ratio       1.50        
Maximum ratio of total secured recourse debt to total asset value under financial covenants       0.10        
Maximum percentage of A F F O distributions to common stockholders under financial covenants       95.00%        
Covenant terms       The Operating Partnership is subject to a number of financial covenants under its Credit Facility, including, among other things, (i) a maximum consolidated leverage ratio as of the end of each fiscal quarter of less than 0.60:1.00, (ii) a minimum fixed charge coverage ratio of 1.50:1.00, (iii) a minimum net worth of $203.8 million plus 75% of all net proceeds raised through equity offerings subsequent to March 31, 2018, (iv) a ratio of total secured recourse debt to total asset value of not greater than 0.10:1.00, and, (v) beginning at the end of the fourth quarter of 2020, a quarterly requirement that the Company’s distributions to common stockholders and OP Unit and LTIP Unit holders be limited to an amount equal to 95% of its AFFO        
Covenant compliance       As of December 31, 2020, the Company complied with all of the financial and non-financial covenants contained in the Credit Facility.        
Debt Instrument, Face Amount       $ 600,000        
Minimum Net Worth Required for Compliance       $ 203,800        
Net Proceeds raised Through Equity Offerings, Percent       75.00%        
Revolving Credit Facility [Member]                
Notes Payable and Revolving Credit Facility                
Amortization of Financing Costs       $ 1,225 1,129 1,639    
Increase (Decrease) in Security Deposits       14,669 14,237 11,371    
Long-term Debt, Gross       173,850 71,075      
Rosedale Loan [Member]                
Notes Payable and Revolving Credit Facility                
Long-term Debt, Total $ 14,800     14,691        
Debt Instrument, Interest Rate, Stated Percentage 3.85%              
Interest Expense, Debt       249        
Debt Instrument, Term 25 years              
Principal payments made       109        
Long-term Debt, Gross       14,691        
Dumfries Loan [Member]                
Notes Payable and Revolving Credit Facility                
Long-term Debt, Total   $ 12,074   11,899        
Debt Instrument, Interest Rate, Stated Percentage   4.68%            
Interest Expense, Debt       383        
Debt Instrument, Term   10 years            
Principal payments made       175        
Long-term Debt, Gross       11,899        
Cantor Loan [Member]                
Notes Payable and Revolving Credit Facility                
Long-term Debt, Total     $ 32,097 32,097 32,097      
Debt Instrument, Interest Rate, Stated Percentage     5.22%          
Interest Expense, Debt       1,703 1,699 1,699    
Debt Instrument, Term     30 years          
Long-term Debt, Gross       32,097        
West Mifflin Note Payable [Member]                
Notes Payable and Revolving Credit Facility                
Long-term Debt, Total       7,085 7,220     $ 7,378
Debt Instrument, Interest Rate, Stated Percentage             4.25%  
Interest Expense, Debt       277 274 $ 280    
Principal payments made       293 $ 136      
Long-term Debt, Gross       $ 7,085        
The Revolver [Member] | Credit Facility [Member]                
Notes Payable and Revolving Credit Facility                
Debt Instrument, Maturity Date       Aug. 31, 2022        
Credit facility extension option period       1 year        
Debt Instrument, Face Amount       $ 250,000        
The Term loan [Member] | Credit Facility [Member]                
Notes Payable and Revolving Credit Facility                
Debt Instrument, Maturity Date       Aug. 31, 2023        
Debt Instrument, Face Amount       $ 350,000        
Accordion [Member] | Credit Facility [Member]                
Notes Payable and Revolving Credit Facility                
Debt Instrument, Face Amount       $ 50,000