XML 50 R40.htm IDEA: XBRL DOCUMENT v3.23.2
INVESTMENTS IN LODGING PROPERTY, NET - Summary of Hotel Properties Acquired (Details)
$ in Thousands
6 Months Ended
Jun. 30, 2023
USD ($)
room
hotel
Jun. 01, 2023
USD ($)
room
Jun. 10, 2022
USD ($)
room
Mar. 23, 2022
USD ($)
room
Jan. 13, 2022
USD ($)
room
Jun. 30, 2023
USD ($)
room
hotel
May 19, 2023
room
hotel
Jan. 10, 2023
Jan. 13, 2022
hotel
Jan. 13, 2022
parkingStructure
Financing Receivable, Allowance for Credit Loss [Line Items]                    
Number of parking garages | room             467      
Initial purchase option, ownership percentage     90.00%              
Exercise price of initial purchase option     $ 89,000              
Brickell Joint Venture                    
Financing Receivable, Allowance for Credit Loss [Line Items]                    
Initial purchase option           $ 2,900        
Fair value of net assets on transaction date $ 6,900         6,900        
Transaction costs 600         600        
Asset acquisition, intangible assets $ 2,000         $ 2,000        
Mezzanine Loans                    
Financing Receivable, Allowance for Credit Loss [Line Items]                    
Initial purchase option, ownership percentage               90.00%    
Mezzanine Loans | Brickell Joint Venture                    
Financing Receivable, Allowance for Credit Loss [Line Items]                    
Initial purchase option, ownership percentage     90.00%              
Exercise price for purchase option     $ 80,100              
Exercise price of initial purchase option     89,000              
Initial purchase option exercise, assumption of senior debt     47,000              
Net consideration payment     42,000              
Initial purchase option exercise, expected payments received     29,900              
Cash payment     7,900              
Initial purchase option     2,800              
Fair value of net assets on transaction date     $ 6,900              
Second purchase option, ownership percentage     10.00%              
Transaction costs     $ 600              
Totaled amount     95,100              
Asset acquisition, intangible assets     $ 2,000              
Hotels                    
Financing Receivable, Allowance for Credit Loss [Line Items]                    
Guestrooms | hotel 101         101 4      
Number of parking garages | room 15,034         15,034        
Hotels | Brickell Joint Venture                    
Financing Receivable, Allowance for Credit Loss [Line Items]                    
Guestrooms | hotel 2         2        
Hotels | Acquisitions of 2023                    
Financing Receivable, Allowance for Credit Loss [Line Items]                    
Guestrooms | room 167         167        
Asset acquisition purchase price           $ 42,700        
Hotels | Residence Inn by Marriott                    
Financing Receivable, Allowance for Credit Loss [Line Items]                    
Guestrooms | room   120                
Asset acquisition purchase price   $ 29,000                
Hotels | Nordic Lodge                    
Financing Receivable, Allowance for Credit Loss [Line Items]                    
Guestrooms | room 47         47        
Asset acquisition purchase price $ 13,700                  
Hotels | Acquisitions of 2022                    
Financing Receivable, Allowance for Credit Loss [Line Items]                    
Guestrooms | room 3,973         3,973        
Asset acquisition purchase price           $ 902,100        
Hotels | Portfolio of properties - twenty-six hotel properties and two parking garages                    
Financing Receivable, Allowance for Credit Loss [Line Items]                    
Guestrooms         3,533       26  
Asset acquisition purchase price         $ 766,000          
Hotels | Canopy New Orleans                    
Financing Receivable, Allowance for Credit Loss [Line Items]                    
Guestrooms | room       176            
Asset acquisition purchase price       $ 56,000            
Hotels | AC/Element Hotel                    
Financing Receivable, Allowance for Credit Loss [Line Items]                    
Guestrooms | room     264              
Asset acquisition purchase price     $ 80,100              
Hotels | Hotel Portfolio Acquired In Texas On January 2022                    
Financing Receivable, Allowance for Credit Loss [Line Items]                    
Guestrooms | hotel                 21  
Number of parking garages | parkingStructure                   2
Hotels | Hotel Portfolio Acquired In Louisiana On January 2022                    
Financing Receivable, Allowance for Credit Loss [Line Items]                    
Guestrooms | hotel                 2  
Hotels | Hotel Portfolio Acquired In Oklahoma On January 2022                    
Financing Receivable, Allowance for Credit Loss [Line Items]                    
Guestrooms | hotel                 3