Fair Value (Tables)

9 Months Ended

Aug. 31, 2020

Fair Value

Schedule of financial assets and liabilities carried at fair value and measured at fair value on a recurring basis:

	August 31, 2020
	Quoted Prices in		Significant		Significant
	Active Markets for		Observable		Unobservable
	Identical Assets		Inputs		Inputs
	(Level 1)		(Level 2)		(Level 3)
Interest rate swap liabilities	$	—	$	9,952	$	—
Common stock warrant liability	$	—	$	—	$	5,410
Contingent value rights liability	$	—	$	—	$	1,261

	November 30, 2019
	Quoted Prices in		Significant		Significant
	Active Markets for		Observable		Unobservable
	Identical Assets		Inputs		Inputs
	(Level 1)		(Level 2)		(Level 3)
Interest rate swap liabilities	$	—	$	4,052	$	—

Schedule of carrying and estimated fair values of financial instruments

	Fair Value	August 31, 2020				November 30, 2019
	Hierarchy	Carrying		Estimated		Carrying		Estimated
	Level	Value		Fair Value		Value		Fair Value
Financial assets:
Cash and cash equivalents	1	$	27,767	$	27,767	$	5,874	$	5,874
Short-term investments	2	$	—	$	—	$	1,011	$	1,011
Financial liabilities:
Mortgage loans, net of debt issuance costs	2	$	162,211	$	165,586	$	142,575	$	145,235
Revolving lines of credit	2	$	—	$	—	$	5,875	$	5,875
Interest rate swap liabilities	2	$	9,952	$	9,952	$	4,052	$	4,052
Warrant liability	3	$	5,410	$	5,410	$	—	$	—
Contingent value rights liability	3	$	1,261	$	1,261	$	—	$	—

Summary of the weighted-average significant unobservable inputs used in determining fair value of the warrant liability

A summary of the weighted-average significant unobservable inputs (Level 3 inputs) used in determining fair value of the Warrant liability is as follows:

		Warrant
		Liability
Expected volatility		38.56	%
Risk free interest rates		0.18	%
Expected term (in years)		3
Annual dividend yield		1.29	%
		Fair Value of
		Derivative
		Warrant Liability
Initial fair value at inception	$	4,915
Change in fair value		495
Balance at August 31, 2020	$	5,410

A summary of the weighted-average significant unobservable inputs (Level 3 inputs) used in determining fair value of the CVR liability is as follows:

		Contingent Value
		Rights Liability
Expected volatility		53.53	%
Risk free interest rates		0.14	%
Expected term (in years)		1
Annual dividend yield		2.0	%
		Fair Value of
		Contingent Value
		Rights Liability
Initial fair value at inception	$	1,342
Change in fair value		(81)
Balance at August 31, 2020	$	1,261