Quarterly report pursuant to Section 13 or 15(d)

Notes Payable and Credit Facility (Tables)

v3.19.1
Notes Payable and Credit Facility (Tables)
 3 Months Ended
Mar. 31, 2019
Debt Instrument [Line Items]  
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]
The Company’s notes payable, net, includes two loans: (1) the Cantor Loan and (2) the West Mifflin Note, described in detail below. The following table sets forth the aggregate balances of these loans as of March 31, 2019 and December 31, 2018.
 
 
 
March 31, 2019
 
 
December 31, 2018
 
Notes payable, gross
 
$
39,453
 
 
$
39,475
 
Less: Unamortized debt discount
 
 
(766
)
 
 
(799
)
Principal repayment
 
 
(35
)
 
 
(22
)
Notes payable, net
 
$
38,652
 
 
$
38,654
 
Schedule of Line of Credit Facilities [Table Text Block]
As of March 31, 2019 and December 31, 2018, the Company had the following outstanding borrowings under the Credit Facility:
 
 
 
March 31, 2019
 
 
December 31, 2018
 
Revolver
 
$
123,675
 
 
$
180,275
 
Term Loan
 
 
100,000
 
 
 
100,000
 
Less: Unamortized deferred financing costs
 
 
(3,682
)
 
 
(3,922
)
Credit Facility, net
 
$
219,993
 
 
$
276,353
 
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block]
The table below details the components of the loss presented on the accompanying Consolidated Statements of Comprehensive (Loss) Income recognized on the Company’s interest rate swaps designated as cash flow hedges for the three months ended March 31, 2019 and 2018:
 
 
 
Three Months Ended
March 31,
 
 
 
2019
 
 
2018
 
 
 
 
 
 
 
 
Amount of loss recognized in other comprehensive loss
 
$
2,204
 
 
$
-
 
Amount of loss reclassified from accumulated other comprehensive loss into interest expense
 
 
(182
)
 
 
-
 
Total change in accumulated other comprehensive loss
 
$
2,022
 
 
$
-
 
Cantor Loan [Member]  
Debt Instrument [Line Items]  
Schedule of Maturities of Long-term Debt [Table Text Block]
As of March 31, 2019, scheduled principal payments due for each fiscal year ended December 31 are listed below as follows:
 
2019
 
$
-
 
2020
 
 
-
 
2021
 
 
282
 
2022
 
 
447
 
2023
 
 
471
 
Thereafter
 
 
30,897
 
Total
 
$
32,097
 
West Mifflin Note Payable [Member]  
Debt Instrument [Line Items]  
Schedule of Maturities of Long-term Debt [Table Text Block]
As of March 31, 2019, scheduled principal payments due for each fiscal year ended December 31 are listed below as follows:
 
2019 (nine months remaining)
 
$
101
 
2020
 
 
7,220
 
Total
 
$
7,321