XML 42 R31.htm IDEA: XBRL DOCUMENT v3.20.2
Mortgage Loans (Details)
1 Months Ended 6 Months Ended
Jun. 24, 2020
a
ft²
Jan. 23, 2020
USD ($)
ft²
subsidiary
building
Dec. 20, 2019
USD ($)
ft²
subsidiary
Jun. 30, 2020
USD ($)
May 31, 2020
USD ($)
derivative
item
May 31, 2019
USD ($)
Nov. 30, 2019
USD ($)
Long-Term Debt              
Loans, net of debt issuance costs         $ 158,375,000   $ 142,575,000
Interest rate (as a percent)       3.50%      
Debt disclosures              
Term of debt       10 years 1 year    
Amortization period of debt       25 years      
Anticipated ineffectiveness on cash flow hedges         $ 0    
Net fair value of interest rate swap agreements         10,210,000    
New mortgage       $ 5,100,000      
Proceeds from issuance of debt         $ 21,500,000 $ 288,000  
Repayment of debt       $ 4,100,000      
Minimum debt service coverage ratio         1.25    
Maximum percentage of loan to value         65.00%    
Borrower deposited in escrow account         $ 1,000    
Escrow account balance         300,000    
Cash flow hedges              
Debt disclosures              
Ineffectiveness on cash flow hedges         $ 0    
Interest rate swap agreement              
Debt disclosures              
Number of agreements containing credit risk related contingent features | item         0    
Recognized net losses (included in other comprehensive loss), before taxes, on interest rate swap agreements         $ 6,158,000 $ 5,365,000  
Loss expected to be reclassified over next twelve months from accumulated other comprehensive loss to interest expense         $ 1,963,000    
Number of interest rate swap derivatives | derivative         12    
LIBOR              
Debt disclosures              
Variable interest rate margin (as a percent)       2.56%      
Nonrecourse mortgage loans              
Long-Term Debt              
Loans, prior to debt issuance costs         $ 160,528,000   144,473,000
Debt issuance costs, net         (2,153,000)   (1,898,000)
Loans, net of debt issuance costs         $ 158,375,000   $ 142,575,000
Weighted average interest rate         4.21%   4.31%
Acquisition Credit Line              
Long-Term Debt              
Weighted average interest rate         3.12%    
Debt disclosures              
Minimum debt service coverage ratio         1.25    
Acquisition Credit Line | LIBOR              
Debt disclosures              
Variable interest rate margin (as a percent)         2.75%    
4.72%, due October 3, 2022              
Long-Term Debt              
Loans, prior to debt issuance costs         $ 4,122,000   $ 4,174,000
Interest rate (as a percent)         4.72%   4.72%
4.39%, due January 2, 2025              
Long-Term Debt              
Loans, prior to debt issuance costs         $ 18,804,000   $ 19,101,000
Interest rate (as a percent)         4.39%   4.39%
4.17%, due May 1, 2026              
Long-Term Debt              
Loans, prior to debt issuance costs         $ 12,923,000   $ 13,115,000
Interest rate (as a percent)         4.17%   4.17%
3.79%, November 17, 2026              
Long-Term Debt              
Loans, prior to debt issuance costs         $ 24,341,000   $ 24,701,000
Interest rate (as a percent)         3.79%   3.79%
4.39%, due August 1, 2027              
Long-Term Debt              
Loans, prior to debt issuance costs         $ 9,904,000   $ 10,034,000
Interest rate (as a percent)         4.39%   4.39%
3.97%, due September 1, 2027              
Long-Term Debt              
Loans, prior to debt issuance costs         $ 11,557,000   $ 11,673,000
Interest rate (as a percent)         3.97%   3.97%
4.57%, due February 1, 2028              
Long-Term Debt              
Loans, prior to debt issuance costs         $ 17,855,000   $ 18,069,000
Interest rate (as a percent)         4.57%   4.57%
5.09%, due July 1, 2029 GCD mortgage loan              
Long-Term Debt              
Loans, prior to debt issuance costs         $ 5,492,000   $ 5,725,000
Interest rate (as a percent)         5.09%   5.09%
5.09%, due July 1, 2029 TD mortgage Loan              
Long-Term Debt              
Loans, prior to debt issuance costs         $ 3,848,000   $ 4,011,000
Interest rate (as a percent)         5.09%   5.09%
3.60%, due January 2, 2030              
Long-Term Debt              
Loans, prior to debt issuance costs         $ 6,446,000    
Interest rate (as a percent)         3.60%   3.60%
Debt disclosures              
Term of debt     10 years        
Amortization period of debt     25 years        
New loan     $ 6,500,000        
Area of collateralized properties (in square feet) | ft²     100,000        
Repayment of debt     $ 5,875,000        
Number of subsidiaries which are party to the mortgage | subsidiary     2        
3.60%, due January 2, 2030 | Interest rate swap agreement              
Debt disclosures              
Fixed interest rate pursuant to interest rate swap agreement (as a percent)     3.60%        
3.60%, due January 2, 2030 | LIBOR              
Debt disclosures              
Variable interest rate margin (as a percent)     1.75%        
3.48% due February 1 2030              
Long-Term Debt              
Loans, prior to debt issuance costs         $ 14,906,000    
Interest rate (as a percent)   3.48%     3.48%   3.48%
Debt disclosures              
Term of debt   10 years          
Amortization period of debt   25 years          
New mortgage   $ 15,000,000          
Number of buildings used as collateral | building   2          
Area of collateralized properties (in square feet) | ft²   254,000          
Repayment of debt   $ 3,191,000          
Number of subsidiaries which are party to the mortgage | subsidiary   2          
4.33%, due August 1, 2030              
Long-Term Debt              
Loans, prior to debt issuance costs         $ 16,456,000   $ 16,634,000
Interest rate (as a percent)         4.33%   4.33%
4.51%, due April 1, 2034              
Long-Term Debt              
Loans, prior to debt issuance costs         $ 13,874,000   $ 14,030,000
Interest rate (as a percent)         4.51%   4.51%
3.91%, due January 27, 2020              
Long-Term Debt              
Loans, prior to debt issuance costs             $ 3,206,000
Interest rate (as a percent)         3.91%   3.91%
Subsequent events              
Debt disclosures              
Area Of Building | ft² 150,000            
Build-to-suit industrial / warehouse building (in acres) | a 18