Annual report pursuant to Section 13 and 15(d)

Credit Facility, Notes Payable and Derivative Instruments (Details)

v3.22.4
Credit Facility, Notes Payable and Derivative Instruments (Details)
$ in Thousands
 5 Months Ended 12 Months Ended
Jul. 31, 2020
USD ($)
Apr. 27, 2020
USD ($)
Mar. 31, 2016
USD ($)
Dec. 31, 2022
USD ($)
loan
contract
Dec. 31, 2022
USD ($)
loan
contract
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Aug. 02, 2022
USD ($)
contract
Jul. 08, 2022
USD ($)
Notes Payable and Revolving Credit Facility                  
Amortization of financing costs         $ 155 $ 228 $ 174    
Other Operating Activities, Cash Flow Statement         221,600 138,600      
Increase (Decrease) in Security Deposits         921 200 129    
Repayments of Lines of Credit         $ 224,200 $ 15,500      
Debt Instrument, Term         3 years 11 months 4 days 4 years 3 months 10 days      
Note balance       $ 58,124 $ 58,124 $ 57,769      
Line Of Credit Cash Paid Other         3,215 6,177      
Additional Interest Expense         14,091        
Derivative asset       34,705 34,705 1,236      
Derivative liability       $ 0 0 7,790      
Interest expense         $ 25,230 $ 19,696 18,680    
Weighted average interest rate basis       4.20% 4.20% 2.87%      
Interest Rate Swap [Member]                  
Notes Payable and Revolving Credit Facility                  
Number of interest rate swaps entered | contract       6 6        
Derivative asset       $ 34,705 $ 34,705        
Derivative liability           $ 6,554      
Interest Rate Swap Agreement One [Member]                  
Notes Payable and Revolving Credit Facility                  
Derivative fixed rate       1.80% 1.80%        
Interest Rate Swap Agreement Two [Member]                  
Notes Payable and Revolving Credit Facility                  
Derivative fixed rate       1.50% 1.50%        
Interest Rate Swap Agreement Three [Member]                  
Notes Payable and Revolving Credit Facility                  
Derivative fixed rate       1.36% 1.36%        
Forward Starting Interest Rate Swaps [Member]                  
Notes Payable and Revolving Credit Facility                  
Number of interest rate swaps entered | contract       9 9        
Credit Facility [Member]                  
Notes Payable and Revolving Credit Facility                  
Credit Facility maximum borrowing capacity       $ 900,000 $ 900,000        
Maximum consolidated leverage ratio under financial covenants       60 60        
Minimum fixed charge coverage ratio under financial covenants       1.50 1.50        
Minimum unsecured interest coverage ratio under financial covenant       1.50 1.50        
Maximum consolidated secured leverage ratio under financial covenants       30.00% 30.00%        
Maximum consolidated unsecured leverage ratio under financial covenants       60.00% 60.00%        
Maximum ratio of total secured recourse debt to total asset value under financial covenants         10        
Percentage of net proceeds raised, covenant       75.00% 75.00%        
Covenant compliance         As of December 31, 2022, management believed it complied with all of the financial and non-financial covenants contained in the Credit Facility.        
Minimum Net Worth Required for Compliance       $ 573,000 $ 573,000        
Temporary reduction in the interest rate if sustainability goals met       0.02% 0.02%        
Credit Facility [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]                  
Notes Payable and Revolving Credit Facility                  
Debt Instrument, Basis Spread on Variable Rate       0.10%          
Revolving Credit Facility [Member]                  
Notes Payable and Revolving Credit Facility                  
Amortization of financing costs         $ 1,995 1,703 1,225    
Increase (Decrease) in Security Deposits         20,274 14,705 14,669    
Note balance       $ 2,600 2,600 123,100      
Term Loan [Member]                  
Notes Payable and Revolving Credit Facility                  
Credit Facility maximum borrowing capacity       500,000 500,000        
Term Loan A [Member]                  
Notes Payable and Revolving Credit Facility                  
Credit Facility maximum borrowing capacity       350,000 350,000        
Term Loan A [Member] | Interest Rate Swap [Member]                  
Notes Payable and Revolving Credit Facility                  
Derivative, Notional Amount       $ 350,000 $ 350,000        
Number of interest rate swaps entered | contract       6 6        
Term Loan A [Member] | Interest Rate Swap Agreement One [Member]                  
Notes Payable and Revolving Credit Facility                  
Derivative, Notional Amount       $ 150,000 $ 150,000        
Term Loan A [Member] | Interest Rate Swap Agreement Two [Member]                  
Notes Payable and Revolving Credit Facility                  
Derivative, Notional Amount       $ 200,000 $ 200,000        
Term Loan A [Member] | Forward Starting Interest Rate Swaps [Member]                  
Notes Payable and Revolving Credit Facility                  
Number of interest rate swaps entered | contract       5 5        
Term Loan B [Member]                  
Notes Payable and Revolving Credit Facility                  
Credit Facility maximum borrowing capacity       $ 150,000 $ 150,000        
Term Loan B [Member] | Forward Starting Interest Rate Swaps [Member]                  
Notes Payable and Revolving Credit Facility                  
Derivative, Notional Amount               $ 150,000  
Number of interest rate swaps entered | contract               4  
Term Loan B [Member] | Forward Starting Interest Rate Swaps [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]                  
Notes Payable and Revolving Credit Facility                  
Derivative fixed rate       2.54% 2.54%        
Rosedale Loan [Member]                  
Notes Payable and Revolving Credit Facility                  
Long term debt $ 14,800     $ 13,954 $ 13,954 14,330      
Debt Instrument, Interest Rate, Stated Percentage 3.85%                
Interest expense         551 566      
Debt Instrument, Term 25 years                
Principal payments made         376 361      
Note balance       13,953 13,953        
Interest expense             249    
Dumfries Loan [Member]                  
Notes Payable and Revolving Credit Facility                  
Long term debt   $ 12,074   11,336 11,336 11,624      
Debt Instrument, Interest Rate, Stated Percentage   4.68%              
Interest expense         537 550      
Debt Instrument, Term   10 years              
Principal payments made         288 275      
Note balance       11,337 11,337        
Interest expense             383    
Cantor Loan [Member]                  
Notes Payable and Revolving Credit Facility                  
Long term debt     $ 32,097 31,368 $ 31,368 31,815      
Debt Instrument, Interest Rate, Stated Percentage     5.22%            
Prepayment period before maturity date         4 months        
Interest expense         $ 1,673 1,695 $ 1,703    
Debt Instrument, Term     30 years            
Principal payments made         447 $ 282      
Note balance       $ 31,369 $ 31,369        
Toledo Loan [Member]                  
Notes Payable and Revolving Credit Facility                  
Debt Instrument, Interest Rate, Stated Percentage       5.00% 5.00%        
Debt Instrument, Maturity Date         Jul. 30, 2033        
Interest expense         $ 45        
Principal payments made         47        
Note balance       $ 1,466 1,466       $ 1,513
The Revolver [Member] | Revolving Credit Facility [Member]                  
Notes Payable and Revolving Credit Facility                  
Credit Facility maximum borrowing capacity       400,000 $ 400,000        
Credit facility extension option period         6 months        
Debt instrument extensions | contract         2        
Accordion [Member] | Credit Facility [Member]                  
Notes Payable and Revolving Credit Facility                  
Credit Facility maximum borrowing capacity       $ 500,000 $ 500,000        
Notes Payable [Member]                  
Notes Payable and Revolving Credit Facility                  
Number of loans | loan       4 4