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FAIR VALUE MEASUREMENTS AND DERIVATIVE INSTRUMENTS (Tables)
 12 Months Ended
Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Value Of Interest Rate Swaps And Caps The table on the following page presents our derivative instruments as of December 31, 2021 and 2020.
NOTE 8 – FAIR VALUE MEASUREMENTS AND DERIVATIVE INSTRUMENTS (CONTINUED)
Estimated Fair Value
Asset / (Liability) Balance
Hedged DebtTypeStrike RateIndexEffective DateDerivative Contract Maturity DateNotional AmountDecember 31, 2021December 31, 2020
Term Loan Instruments:
Credit FacilitySwap1.341 %
1-Month LIBOR + 2.20%
October 3, 2019August 2, 2021150,000 $— $(1,070)
Credit Facility (1)Swap1.316 %
1-Month LIBOR + 2.20%
September 3, 2019August 2, 202143,900 — (307)
Credit FacilitySwap1.824 %
1-Month LIBOR + 2.20%
September 3, 2019August 10, 2022103,500 (970)(2,793)
Credit FacilitySwap1.824 %
1-Month LIBOR + 2.20%
September 3, 2019August 10, 2022103,500 (970)(2,793)
Credit FacilitySwap1.460 %
1-Month LIBOR + 2.00%
September 10, 2019September 10, 2024300,000 (3,729)(13,286)
Mortgages:
Hyatt, Union Square, New York, NYSwap1.870 %
1-Month LIBOR + 2.30%
June 7, 2019June 7, 202356,000 (987)(2,305)
Hilton Garden Inn Tribeca, New York, NYSwap1.768 %
1-Month LIBOR + 2.25%
July 25, 2019July 25, 202422,725 (460)(1,222)
Hilton Garden Inn Tribeca, New York, NYSwap1.768 %
1-Month LIBOR +2.25%
July 25, 2019July 25, 202422,725 (460)(1,222)
Hilton Garden Inn 52nd Street, New York, NYSwap1.540 %
1-Month LIBOR + 2.30%
December 4, 2019December 4, 202244,325 (458)(1,186)
Courtyard, LA Westside, Culver City, CASwap0.495 %
1-Month LIBOR + 2.75%
June 1, 2020August 1, 202135,000 — (75)
Courtyard, LA Westside, Culver City, CACap2.500 %1-Month LIBORAugust 1, 2021August 1, 202435,000 92 — 
$(7,942)$(26,259)
(1) During the year ended December 31, 2021, we dedesignated this swap as a cash flow hedge and recorded expense of $372 accordingly.