XML 41 R26.htm IDEA: XBRL DOCUMENT v3.21.1
Subsequent Events
3 Months Ended
Mar. 31, 2021
Subsequent Events [Abstract]  
Subsequent Events Note 20 – Subsequent Events

On April 29, 2021, as detailed at Note 11 – Borrowings, Westpac waived the requirement to test certain covenants as of March 31, 2021. On May 7, 2021, we repaid $11.2 million (NZ$16.0 million) of this debt, which also represented a permanent reduction in the facility.

On May 7, 2021, as detailed at Note 11 – Borrowings, we closed on our new $55.0 million loan facility with an affiliate of Emerald Creek Capital secured by a first mortgage on our 44 Union Square property.

On May 14, 2021, as also described in Note 6 - Property and Equipment, we entered into a definitive purchase and sale agreement with a qualified buyer, looking to the sale of our Royal George Theatre property and expecting to close during the second quarter 2021.