XML 80 R68.htm IDEA: XBRL DOCUMENT v3.8.0.1
Debt (Schedule of Construction Financing) (Details) - US Union Square Construction Financing [Member]
$ in Thousands
9 Months Ended 12 Months Ended
Sep. 30, 2017
USD ($)
item
Dec. 31, 2016
USD ($)
Debt Instrument [Line Items]    
Facility Limit $ 57,500  
Advanced-to-Date 8,000  
Remaining Facility $ 49,500  
Maturity date Dec. 29, 2019 [1] Dec. 29, 2019 [2]
Number of extension options | item 2  
Extension period 1 year  
Tammany Mezz Investor, LLC [Member] | Mezzanine Loan [Member]    
Debt Instrument [Line Items]    
Facility Limit $ 7,500  
Remaining Facility $ 7,500  
Interest rate [3] 10.50%  
Spread over LIBOR [3] 10.00%  
Maturity date [4] Dec. 29, 2019  
Bank Of The Ozarks [Member]    
Debt Instrument [Line Items]    
Facility Limit   $ 8,000
Advanced-to-Date   $ 8,000
Bank Of The Ozarks [Member] | Senior Loans, Including Building And Project Loan [Member]    
Debt Instrument [Line Items]    
Facility Limit $ 50,000  
Advanced-to-Date 8,000  
Remaining Facility $ 42,000  
Interest rate [3] 4.75%  
Spread over LIBOR [3] 4.25%  
Maturity date [4] Dec. 29, 2019  
Maximum [Member] | New York State [Member]    
Debt Instrument [Line Items]    
Interest rate 16.00%  
[1] The loan for our Minetta & Orpheum Theatres was obtained from Santander Bank. The term loan for our Cinema 1,2,3 Theatre was refinanced during the third quarter of 2016 with Valley National Bank. The term loan, which is collateralized by our new U.S Corporate Headquarters office building, was obtained with Citizens Asset Finance, Inc. In December 2016, we completed the negotiation of the construction financing for our Union Square redevelopment project, $8.0 million of which was advanced from the total construction loan limit of $57.5 million.
[2] The loan for our Minetta & Orpheum Theatres was obtained from Santander Bank. The term loan for our Cinema 1,2,3 Theatre was refinanced during the third quarter of 2016 with Valley National Bank. The term loan, which is collateralized by our new U.S Corporate Headquarters office building, was obtained with Citizens Asset Finance, Inc.. In December 2016, we completed the negotiation of the construction financing for our Union Square redevelopment project, $8.0 million of which was advanced from the total construction loan limit of $57.5 million. The Minetta & Orpheum Theatres Loan will become due within one year. Currently, we are negotiating with our lender to renew this borrowing. Our loan arrangements are presented, net of the deferred financing costs, on the face of our consolidated balance sheet as follows:Dollars in thousandsBalance Sheet CaptionSeptember 30, 2017December 31, 2016Debt - current portion$ 8,084$ 567 Debt - long-term portion 111,939 115,707 Subordinated debt 27,501 27,340 Total borrowings $ 147,524$ 143,614
[3] Not to exceed the New York State maximum lawful borrowing rate, which typically is 16%.
[4] Allowable for up to two (2) extension request options, one (1) year for each extension request.