XML 27 R54.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Debt - Schedule of Long Term Debt (Details) - USD ($)
12 Months Ended
Jul. 25, 2019
Dec. 31, 2019
Jul. 31, 2019
Jul. 24, 2019
Jan. 07, 2019
Dec. 31, 2018
Mar. 01, 2018
Debt Instrument [Line Items]              
Principal Balance   $ 1,019,569,000          
Total mortgage and other debt, net of unamortized debt issuance costs   616,329,000       $ 629,747,000  
Total debt   1,090,099,000       977,966,000  
Senior unsecured credit facility   $ 75,000,000       0  
Weighted-Average Interest Rate   3.81%          
Unsecured Term Loan Due October 2023 | LIBOR              
Debt Instrument [Line Items]              
Interest rate at period end         2.41%    
Mortgages              
Debt Instrument [Line Items]              
Unamortized debt issuance costs   $ (3,240,000)       (4,017,000)  
Total mortgage and other debt, net of unamortized debt issuance costs   616,329,000       629,747,000  
Unsecured term loan              
Debt Instrument [Line Items]              
Unamortized debt issuance costs   (1,230,000)       (1,781,000)  
Total debt   $ 398,770,000       348,219,000  
Unsecured term loan | LIBOR              
Debt Instrument [Line Items]              
Basis spread on variable rate   1.35%          
Unsecured term loan | Unsecured Term Loan Due May 2021              
Debt Instrument [Line Items]              
Principal Balance   $ 0       100,000,000  
Interest rate description   LIBOR + 1.45%          
Unsecured term loan | Unsecured Term Loan Due May 2021 | LIBOR              
Debt Instrument [Line Items]              
Basis spread on variable rate   1.45%          
Unsecured term loan | Unsecured Term Loan Due April 2022              
Debt Instrument [Line Items]              
Principal Balance   $ 0       200,000,000  
Interest rate description   LIBOR + 1.45%          
Unsecured term loan | Unsecured Term Loan Due April 2022 | LIBOR              
Debt Instrument [Line Items]              
Basis spread on variable rate   1.45%          
Unsecured term loan | Unsecured Term Loan Due October 2023              
Debt Instrument [Line Items]              
Principal Balance   $ 50,000,000 $ 50,000,000     50,000,000  
Interest rate description   LIBOR + 1.40%          
Unsecured term loan | Unsecured Term Loan Due October 2023 | LIBOR              
Debt Instrument [Line Items]              
Basis spread on variable rate   1.40%          
Unsecured term loan | Unsecured Term Loan Due July 2024              
Debt Instrument [Line Items]              
Principal Balance   $ 350,000,000       0  
Interest rate description   LIBOR + 1.40%          
Unsecured term loan | Unsecured Term Loan Due July 2024 | LIBOR              
Debt Instrument [Line Items]              
Basis spread on variable rate   1.40%          
Unsecured term loan | Unsecured Term Loan, $175 million              
Debt Instrument [Line Items]              
Principal Balance $ 175,000,000            
Unsecured term loan | Unsecured Term Loan, $175 million | London Interbank Offered Rate (LIBOR) Swap Rate | Interest Rate Swap              
Debt Instrument [Line Items]              
Basis spread on variable rate 1.70%            
Senior unsecured credit facility              
Debt Instrument [Line Items]              
Interest rate description   LIBOR + 1.45%          
Senior unsecured credit facility   $ 75,000,000       0  
Senior unsecured credit facility | LIBOR              
Debt Instrument [Line Items]              
Basis spread on variable rate   1.40%          
Senior unsecured credit facility | Senior Unsecured Credit Facility              
Debt Instrument [Line Items]              
Maximum borrowing capacity $ 400,000,000     $ 300,000,000      
Senior unsecured credit facility | Senior Unsecured Credit Facility | LIBOR              
Debt Instrument [Line Items]              
Basis spread on variable rate   1.45%          
Salt Lake City Marriott Downtown mortgage loan | Mortgages              
Debt Instrument [Line Items]              
Interest Rate   4.25%          
Principal Balance   $ 53,273,000       55,032,000  
Westin Washington D.C. City Center mortgage loan | Mortgages              
Debt Instrument [Line Items]              
Interest Rate   3.99%          
Principal Balance   $ 60,550,000       62,734,000  
The Lodge at Sonoma, a Renaissance Resort & Spa mortgage loan | Mortgages              
Debt Instrument [Line Items]              
Interest Rate   3.96%          
Principal Balance   $ 26,963,000       27,633,000  
Westin San Diego mortgage loan | Mortgages              
Debt Instrument [Line Items]              
Interest Rate   3.94%          
Principal Balance   $ 61,851,000       63,385,000  
Courtyard Manhattan / Midtown East mortgage loan | Mortgages              
Debt Instrument [Line Items]              
Interest Rate   4.40%          
Principal Balance   $ 81,107,000       82,620,000  
Renaissance Worthington mortgage loan | Mortgages              
Debt Instrument [Line Items]              
Interest Rate   3.66%          
Principal Balance   $ 80,904,000       82,540,000  
JW Marriott Denver at Cherry Creek | Mortgages              
Debt Instrument [Line Items]              
Interest Rate   4.33%          
Principal Balance   $ 61,253,000       62,411,000  
Boston Westin mortgage loan | Mortgages              
Debt Instrument [Line Items]              
Interest Rate   4.36%          
Principal Balance   $ 190,725,000       194,466,000  
New Market Tax Credit loan | Mortgages              
Debt Instrument [Line Items]              
Interest Rate   5.17%          
Principal Balance   $ 2,943,000       $ 2,943,000 $ 2,900,000