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Note 6 - Mortgage and Other Indebtedness - Schedule of Debt Balance (Details) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Dec. 31, 2021
Mar. 31, 2021
Debt Instrument [Line Items]      
Balance outstanding $ 179,715 $ 180,097  
Unamortized deferred financing costs (579) (1,115)  
Total Mortgage and Other Indebtedness $ 179,136 178,982  
Basis Term Loan [Member]      
Debt Instrument [Line Items]      
Maturity Date Jan. 01, 2023    
Rate Type [1] Floating    
Debt instrument variable rate [2] 6.125%    
Balance outstanding $ 67,100 66,811  
Basis Preferred Interest [Member]      
Debt Instrument [Line Items]      
Maturity Date [3] Jan. 01, 2023    
Rate Type [4] Fixed    
Debt instrument variable rate [5] 14.00%    
Balance outstanding [4] $ 7,883 8,560  
MVB Term Loan [Member]      
Debt Instrument [Line Items]      
Maturity Date Jun. 27, 2023    
Rate Type Fixed    
Debt instrument variable rate [2] 6.75%    
Balance outstanding $ 3,663 3,934  
Second MVB Term Loan [Member]      
Debt Instrument [Line Items]      
Maturity Date Jun. 27, 2023    
Rate Type Fixed    
Debt instrument variable rate [2] 6.75%    
Balance outstanding $ 2,000 0  
Hollinswood Shopping Center Loan [Member]      
Debt Instrument [Line Items]      
Maturity Date Dec. 01, 2024    
Rate Type [6] LIBOR + 2.25%    
Debt instrument variable rate [2] 4.06%    
Balance outstanding $ 12,839 13,070  
Avondale Shops Loan [Member]      
Debt Instrument [Line Items]      
Maturity Date Jun. 01, 2025    
Rate Type Fixed    
Debt instrument variable rate [2] 4.00%    
Balance outstanding $ 3,013 3,097  
Vista Shops at Golden Mile Loan [Member]      
Debt Instrument [Line Items]      
Maturity Date [7] Jun. 24, 2023    
Rate Type [7] Fixed    
Debt instrument variable rate 3.83% [2],[7]   3.83%
Balance outstanding [7] $ 11,543 11,661  
Total Mortgage and Other Indebtedness     $ 11,700
Brookhill Azalea Shopping Center Loan [Member]      
Debt Instrument [Line Items]      
Maturity Date Jan. 31, 2025    
Rate Type LIBOR + 2.75%    
Debt instrument variable rate [2] 5.89%    
Balance outstanding $ 8,783 9,034  
Lamar Station Plaza East Loan [Member]      
Debt Instrument [Line Items]      
Maturity Date [8] Oct. 17, 2022    
Rate Type [9] WSJ Prime    
Debt instrument variable rate [2] 6.14%    
Balance outstanding $ 3,516 3,507  
Lamont Street Preferred Interest [Member]      
Debt Instrument [Line Items]      
Maturity Date [10] Sep. 30, 2023    
Rate Type [10] Fixed    
Debt instrument variable rate [2],[10] 13.50%    
Balance outstanding [10] $ 4,330 4,498  
Highlandtown Village Shopping Center Loan [Member]      
Debt Instrument [Line Items]      
Maturity Date May 06, 2023    
Rate Type Fixed    
Debt instrument variable rate [2] 4.13%    
Balance outstanding $ 5,273 5,364  
Cromwell Field Shopping Center Loan [Member]      
Debt Instrument [Line Items]      
Maturity Date [11] Dec. 31, 2022    
Rate Type [12] LIBOR + 5.40    
Debt instrument variable rate [2] 8.54%    
Balance outstanding $ 12,377 12,249  
Cromwell Field Shopping Center Mezzanine Loan [Member]      
Debt Instrument [Line Items]      
Maturity Date [11] Dec. 31, 2022    
Rate Type Fixed    
Debt instrument variable rate [2] 10.00%    
Balance outstanding $ 1,528 1,512  
Spotswood Valley Square Shopping Center Loan [Member]      
Debt Instrument [Line Items]      
Maturity Date Jul. 06, 2023    
Rate Type Fixed    
Debt instrument variable rate [2] 4.82%    
Balance outstanding $ 11,913 12,100  
The Shops at Greenwood Village [Member]      
Debt Instrument [Line Items]      
Maturity Date Oct. 10, 2028    
Rate Type [13] Prime - 0.35    
Debt instrument variable rate [2] 4.08%    
Balance outstanding $ 22,907 23,296  
MVB Revolver [Member]      
Debt Instrument [Line Items]      
Maturity Date [14] Jun. 27, 2023    
Rate Type [15] Floating    
Debt instrument variable rate [2] 7.75%    
Balance outstanding $ 1,047 $ 1,404  
MVB Revolver [Member] | MVB Term Loan [Member]      
Debt Instrument [Line Items]      
Maturity Date Jun. 30, 2023    
[1] The interest rate for the Basis Term Loan is the greater of (i) SOFR (as defined below) plus 3.97% per annum and (ii) 6.125% per annum. On August 1, 2022, the interest rate cap that capped the prior-LIBOR rate was modified to cap the SOFR rate on this loan at 3.5%.
[2] At September 30, 2022, the floating rate loans tied to the London Inter-Bank Offered Rate (“LIBOR”) were based on the one-month LIBOR rate of 3.14%.
[3] If the Basis Term Loan is paid in full earlier than its maturity date, the Basis Preferred Interest in the Sub-OP will mature at that time.
[4] The outstanding balance includes approximately $0.1 million and $0.8 million of indebtedness as of September 30, 2022 and December 31, 2021, respectively, related to the Minimum Multiple Amount (as defined below) owed to the Preferred Investor as described below under the heading “—Basis Preferred Interest.
[5] In June 2020, the Preferred Investor made additional capital contributions of approximately $2.9 million as described below under the heading “—Basis Preferred Interest” of which approximately $0.9 million was outstanding at September 30, 2022. The Preferred Investor is entitled to a cumulative annual return of 13.0% on the additional contributions.
[6] The Company has entered into an interest rate swap which fixes the interest rate of the loan at 4.06%.
[7] The Company completed the refinance of this loan in March 2021 as described below under the heading “—Mortgage Indebtedness.The prior loan matured on January 25, 2021 and carried an interest rate of LIBOR plus 2.5% per annum.
[8] In August 2022, the Company entered into a modification to the Lamar Station Plaza East loan to extend the maturity date to October 17, 2022, effective July 17, 2022, as described below under the heading “—Mortgage Indebtedness.The Lamar Station Plaza East loan is still outstanding, and the lender gave the Company a forbearance through November 23, 2022 to repay the loan.
[9] As a result of the loan modification the Company entered into in August 2022, the interest rate on the Lamar Station Plaza East loan is the Wall Street Journal Prime Rate, effective July 17, 2022.
[10] The outstanding balance includes approximately $0.3 million of indebtedness as of September 30, 2022 related to the Lamont Street Minimum Multiple Amount (as defined below) owed to Lamont Street as described below under the heading “—Lamont Street Preferred Interest.
[11] On November 9, 2022, the Company entered into a modification to the Cromwell Field Shopping Center mortgage and mezzanine loans to extend the maturity dates to December 31, 2022.
[12] The interest rate on the Cromwell Field Shopping Center loan is LIBOR plus 5.40% per annum with a minimum LIBOR rate of 0.50%.
[13] The Company entered into an interest rate swap which fixes the interest rate of this loan at 4.082%.
[14] In March 2022, the Company entered into a six-month extension on the MVB Term Loan and the MVB Revolver as described under the heading “—MVB Loans.”
[15] The interest rate on the MVB Revolver is the greater of (i) prime rate plus 1.5% and (ii) 6.75%.