Annual report pursuant to Section 13 and 15(d)

Credit Facility, Notes Payable and Derivative Instruments (Details)

v3.24.0.1
Credit Facility, Notes Payable and Derivative Instruments (Details)
$ in Thousands
 12 Months Ended
Dec. 06, 2023
USD ($)
Dec. 05, 2023
Jul. 31, 2020
USD ($)
Apr. 27, 2020
USD ($)
Dec. 31, 2023
USD ($)
contract
loan
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Jul. 08, 2022
USD ($)
Mar. 31, 2016
USD ($)
Notes Payable and Revolving Credit Facility                  
Amortization of financing costs         $ 146 $ 155 $ 228    
Other Operating Activities, Cash Flow Statement         83,100 138,600      
Increase (Decrease) in Security Deposits         (1,773) 921 200    
Repayments of Lines of Credit         136,400 $ 15,500      
Payment for defeased loan         31,525        
Gain (loss) on extinguishment of debt         $ (868)        
Debt Instrument, Term         2 years 10 months 24 days 3 years 10 months 24 days      
Note balance         $ 25,965 $ 58,124      
Write off of unamortized debt issuance costs from loan defeasance         240        
Line Of Credit Cash Paid Other         13 3,215      
Additional Interest Expense         14,194        
Derivative asset         25,125 34,705      
Interest expense         $ 30,893 $ 25,230 19,696    
Weighted average interest rate basis         3.83% 4.20%      
Interest Rate Swap [Member]                  
Notes Payable and Revolving Credit Facility                  
Number of interest rate swaps entered | contract         10        
Derivative asset         $ 25,125 $ 34,705      
Forward Starting Interest Rate Swaps [Member]                  
Notes Payable and Revolving Credit Facility                  
Number of interest rate swaps entered | contract         3        
Credit Facility [Member]                  
Notes Payable and Revolving Credit Facility                  
Credit Facility maximum borrowing capacity         $ 900,000        
Maximum consolidated leverage ratio under financial covenants         60        
Maximum consolidated secured recourse leverage ratio under financial covenant         10.00%        
Minimum fixed charge coverage ratio under financial covenants         1.50        
Minimum unsecured interest coverage ratio under financial covenant         1.50        
Maximum consolidated secured leverage ratio under financial covenants         30.00%        
Maximum consolidated unsecured leverage ratio under financial covenants         60.00%        
Covenant compliance         As of December 31, 2023, 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        
Net Proceeds raised Through Equity Offerings, Percent         75.00%        
Credit Facility [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]                  
Notes Payable and Revolving Credit Facility                  
Temporary reduction in the interest rate if sustainability goals met         0.02%        
Debt Instrument, Basis Spread on Variable Rate         0.10%        
Revolving Credit Facility [Member]                  
Notes Payable and Revolving Credit Facility                  
Credit Facility maximum borrowing capacity         $ 400,000        
Amortization of financing costs         $ 2,199 1,995 1,703    
Credit Facility maturity date         Aug. 01, 2026        
Credit facility extension option period         6 months        
Increase (Decrease) in Security Deposits         $ 25,868 20,274 14,705    
Note balance         $ 53,300 123,100      
Debt instrument extensions | contract         2        
Term Loan [Member]                  
Notes Payable and Revolving Credit Facility                  
Credit Facility maximum borrowing capacity         $ 500,000        
Term Loan A [Member]                  
Notes Payable and Revolving Credit Facility                  
Credit Facility maximum borrowing capacity         $ 350,000        
Credit Facility maturity date         May 01, 2026        
Term Loan A [Member] | Interest Rate Swap Agreement One [Member]                  
Notes Payable and Revolving Credit Facility                  
Derivative, Notional Amount         $ 350,000        
Number of interest rate swaps entered | contract         6        
Term Loan A [Member] | Interest Rate Swap Agreement Two [Member]                  
Notes Payable and Revolving Credit Facility                  
Derivative, Notional Amount         $ 200,000        
Term Loan A [Member] | Interest Rate Swap Agreement Two [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]                  
Notes Payable and Revolving Credit Facility                  
Derivative fixed rate         1.50%        
Term Loan A [Member] | Interest Rate Swap Agreement Three [Member]                  
Notes Payable and Revolving Credit Facility                  
Derivative, Notional Amount         $ 150,000        
Term Loan A [Member] | Interest Rate Swap Agreement Three [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]                  
Notes Payable and Revolving Credit Facility                  
Derivative fixed rate         1.36%        
Term Loan A [Member] | Forward Starting Interest Rate Swaps [Member]                  
Notes Payable and Revolving Credit Facility                  
Derivative, Notional Amount         $ 200,000        
Number of interest rate swaps entered | contract         3        
Term Loan B [Member]                  
Notes Payable and Revolving Credit Facility                  
Credit Facility maximum borrowing capacity         $ 150,000        
Credit Facility maturity date         Feb. 01, 2028        
Term Loan B [Member] | Interest Rate Swap [Member]                  
Notes Payable and Revolving Credit Facility                  
Derivative, Notional Amount         $ 150,000        
Number of interest rate swaps entered | contract         4        
Term Loan B [Member] | Interest Rate Swap [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]                  
Notes Payable and Revolving Credit Facility                  
Derivative fixed rate         2.54%        
Rosedale Loan [Member]                  
Notes Payable and Revolving Credit Facility                  
Long term debt     $ 14,800   $ 13,563 13,954      
Debt Instrument, Interest Rate, Stated Percentage     3.85%            
Debt Instrument, Maturity Date     Jul. 31, 2025            
Interest expense         536 551      
Debt Instrument, Term     25 years            
Principal payments made         391 376      
Note balance         13,563        
Interest expense             566    
Dumfries Loan [Member]                  
Notes Payable and Revolving Credit Facility                  
Long term debt       $ 12,074 11,034 11,336      
Debt Instrument, Interest Rate, Stated Percentage       4.68%          
Debt Instrument, Maturity Date       Jun. 01, 2024          
Prepayment period before maturity date       3 months          
Interest expense         524 537      
Debt Instrument, Term       10 years          
Principal payments made         302 288      
Note balance         11,034        
Interest expense             550    
Cantor Loan [Member]                  
Notes Payable and Revolving Credit Facility                  
Financing costs paid $ 628                
Long term debt           31,368     $ 32,097
Debt Instrument, Interest Rate, Stated Percentage                 5.22%
Debt Instrument, Maturity Date   Apr. 06, 2026              
Interest expense         1,532 1,673 $ 1,695    
Payment for defeased loan         31,525        
Outstanding principal repaid $ 30,897                
Gain (loss) on extinguishment of debt         (868)        
Principal payments made         31,368 447      
Write off of unamortized debt issuance costs from loan defeasance         $ 240        
Toledo Loan [Member]                  
Notes Payable and Revolving Credit Facility                  
Debt Instrument, Interest Rate, Stated Percentage         5.00%        
Debt Instrument, Maturity Date         Jul. 30, 2033        
Interest expense         $ 88 45      
Principal payments made         98 47      
Note balance         1,368 $ 1,466   $ 1,513  
Accordion [Member] | Credit Facility [Member]                  
Notes Payable and Revolving Credit Facility                  
Credit Facility maximum borrowing capacity         $ 500,000        
Notes Payable [Member]                  
Notes Payable and Revolving Credit Facility                  
Number of loans | loan         3