Notes Payable and Revolving Credit Facility (Details) - USD ($) $ in Thousands |
1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||
---|---|---|---|---|---|---|---|---|---|
Aug. 07, 2018 |
Dec. 02, 2016 |
Sep. 25, 2015 |
Sep. 30, 2018 |
Sep. 30, 2017 |
Mar. 31, 2016 |
Sep. 30, 2018 |
Sep. 30, 2017 |
Dec. 31, 2017 |
|
Debt Instrument [Line Items] | |||||||||
Amortization of Financing Costs | $ 33 | $ 33 | $ 98 | $ 98 | |||||
Debt Instrument, Description | Prepayment can only occur within four months prior to the maturity date, except that after the earlier of (a) two years after the loan is placed in a securitized mortgage pool, or (b) May 6, 2020, the Cantor Loan can be fully and partially defeased upon payment of amounts due under the Cantor Loan and payment of a defeasance amount that is sufficient to purchase U.S. government securities equal to the scheduled payments of principal, interest, fees, and any other amounts due related to a full or partial defeasance under the Cantor Loan.The Company secured the payment of the Cantor Loan with the assets, including property, facilities, and rents, held by the GMR Loan Subsidiaries and has agreed to guarantee certain customary recourse obligations, including findings of fraud, gross negligence, or breach of environmental covenants by the GMR Loan Subsidiaries. The GMR Loan Subsidiaries will be required to maintain a monthly debt service coverage ratio of 1.35:1.00 for all of the collateral properties in the aggregate. | ||||||||
Other Operating Activities, Cash Flow Statement | 142,900 | 205,400 | |||||||
Increase (Decrease) in Security Deposits | 1,336 | 1,800 | 1,487 | ||||||
Repayments of Lines of Credit | $ 10,400 | $ 107,000 | |||||||
Debt, Weighted Average Interest Rate | 4.35% | 4.35% | 3.72% | ||||||
Debt Instrument, Term | 4 years 5 months 16 days | 2 years 11 months 8 days | |||||||
Long-term Debt, Gross | $ 39,475 | 98,400 | $ 39,475 | $ 98,400 | $ 39,475 | ||||
Debt Instrument, Covenant Description | maintain a monthly debt service coverage ratio of 1.35:1.00 for all of the collateral properties in the aggregate. | ||||||||
Line Of Credit Cash Paid Other | 2,750 | ||||||||
Interest Rate Swap [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt Instrument, Basis Spread on Variable Rate | 2.88% | ||||||||
Derivative, Amount of Hedged Item | $ 100,000 | ||||||||
Derivative Instruments in Hedges, Assets, at Fair Value | 139 | 139 | 0 | ||||||
Derivative, Maturity Date | Aug. 08, 2023 | ||||||||
Minimum [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt Instrument, Face Amount | $ 340,000 | ||||||||
Maximum [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt Instrument, Face Amount | $ 350,000 | ||||||||
Revolving Credit Facility [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Amortization of Financing Costs | 455 | 308 | 1,373 | 742 | |||||
Line of Credit Facility, Covenant Compliance | The Operating Partnership is subject to ongoing compliance with a number of customary affirmative and negative covenants, including limitations with respect to liens, indebtedness, distributions, mergers, consolidations, investments, restricted payments and asset sales. The Operating Partnership must also maintain (i) a maximum consolidated leverage ratio as of the end of each fiscal quarter of less than (y) 0.65:1.00 for each fiscal quarter ending prior to October 1, 2019 and (z) thereafter, 0.60:1.00, (ii) a minimum fixed charge coverage ratio of 1.50:1.00, (iii) a minimum net worth of $203,795 plus 75% of all net proceeds raised through subsequent equity offerings and (iv) a ratio of total secured recourse debt to total asset value of not greater than 0.10:1.00. | ||||||||
Increase (Decrease) in Security Deposits | 3,211 | 7,872 | |||||||
Long-term Debt, Gross | 132,500 | 132,500 | |||||||
Revolving Credit Facility [Member] | Interest Rate Swap [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt Instrument, Basis Spread on Variable Rate | 2.88% | ||||||||
Derivative, Amount of Hedged Item | $ 100,000 | ||||||||
Derivative, Term of Contract | 5 years | ||||||||
Revolving Credit Facility [Member] | Minimum [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt Instrument, Face Amount | $ 340,000 | ||||||||
Revolving Credit Facility [Member] | Maximum [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt Instrument, Face Amount | 500,000 | 350,000 | 350,000 | ||||||
Cantor Loan [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Long-term Debt, Total | 32,097 | $ 32,097 | $ 32,097 | 32,097 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 5.22% | ||||||||
Debt Instrument, Maturity Date | Apr. 06, 2026 | ||||||||
Interest Expense, Debt | 428 | 428 | $ 1,271 | 1,271 | |||||
West Mifflin Note Payable [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Long-term Debt, Total | $ 7,378 | 7,378 | 7,378 | $ 7,378 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.72% | ||||||||
Debt Instrument, Description | The West Mifflin facility serves as collateral for the note. The note requires a quarterly fixed charge coverage ratio of at least 1:1, a quarterly minimum debt yield of 0.09:1.00, and annualized Operator EBITDAR (as defined in the note) measured on a quarterly basis of not less than $6,000. | ||||||||
Interest Expense, Debt | $ 72 | $ 70 | $ 211 | $ 209 | |||||
The Revolver [Member] | Revolving Credit Facility [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt Instrument, Face Amount | 250,000 | ||||||||
The Term loan [Member] | Revolving Credit Facility [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt Instrument, Face Amount | $ 100,000 |