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Note 7 - Mortgage and Other Indebtedness - Schedule of Debt Balance (Details) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Dec. 31, 2022
Debt Instrument [Line Items]    
Balance outstanding $ 264,321 $ 269,474
Unamortized deferred financing costs (1,663) (1,858)
Total Mortgage and Other Indebtedness $ 262,658 267,616
Basis Term Loan [Member]    
Debt Instrument [Line Items]    
Maturity Date Jan. 01, 2024  
Rate Type [1] Floating  
Balance outstanding [2] $ 67,127 67,086
Basis Term Loan [Member] | SOFR [Member]    
Debt Instrument [Line Items]    
Debt instrument variable rate [3] 8.62%  
Fortress Mezzanine Loan [Member]    
Debt Instrument [Line Items]    
Maturity Date [4] Dec. 01, 2027  
Rate Type [4] Fixed  
Debt instrument variable rate [3],[4] 12.00%  
Balance outstanding [4] $ 13,194 17,895
Hollinswood Shopping Center Loan [Member]    
Debt Instrument [Line Items]    
Maturity Date Dec. 01, 2024  
Rate Type [5] LIBOR + 2.25  
Debt instrument variable rate [3] 4.06%  
Balance outstanding $ 12,680 12,760
Avondale Shops Loan [Member]    
Debt Instrument [Line Items]    
Maturity Date Jun. 01, 2025  
Rate Type Fixed  
Debt instrument variable rate [3] 4.00%  
Balance outstanding $ 2,956 2,985
Vista Shops at Golden Mile Loan [Member]    
Debt Instrument [Line Items]    
Maturity Date Jun. 24, 2023  
Rate Type Fixed  
Debt instrument variable rate [3] 3.83%  
Balance outstanding $ 11,416 11,478
Brookhill Azalea Shopping Center Loan [Member]    
Debt Instrument [Line Items]    
Maturity Date Jan. 31, 2025  
Rate Type LIBOR + 2.75%  
Debt instrument variable rate [3] 7.61%  
Balance outstanding $ 8,749 8,762
Lamar Station Plaza West Loan [Member]    
Debt Instrument [Line Items]    
Maturity Date Dec. 10, 2027  
Rate Type Fixed  
Debt instrument variable rate [3] 5.67%  
Balance outstanding $ 18,325 18,317
Lamont Street Preferred Interest [Member]    
Debt Instrument [Line Items]    
Maturity Date [6] Sep. 30, 2023  
Rate Type [6] Fixed  
Debt instrument variable rate [3],[6] 13.50%  
Balance outstanding [6] $ 4,155 4,241
Highlandtown Village Shopping Center Loan [Member]    
Debt Instrument [Line Items]    
Maturity Date [7] May 06, 2023  
Rate Type Fixed  
Debt instrument variable rate [3] 4.13%  
Balance outstanding $ 5,207 5,241
Cromwell Field Shopping Center Loan [Member]    
Debt Instrument [Line Items]    
Maturity Date Dec. 22, 2027  
Rate Type Fixed  
Debt instrument variable rate [3] 6.71%  
Balance outstanding $ 10,118 10,113
Midtown Row Loan [Member]    
Debt Instrument [Line Items]    
Maturity Date Dec. 01, 2027  
Rate Type Fixed  
Debt instrument variable rate [3] 6.48%  
Balance outstanding $ 75,977 75,975
Spotswood Valley Square Shopping Center Loan [Member]    
Debt Instrument [Line Items]    
Maturity Date Jul. 06, 2023  
Rate Type Fixed  
Debt instrument variable rate [3] 4.82%  
Balance outstanding $ 11,782 11,849
The Shops at Greenwood Village [Member]    
Debt Instrument [Line Items]    
Maturity Date Oct. 10, 2028  
Rate Type [8] Prime – 0.35  
Debt instrument variable rate [3] 4.08%  
Balance outstanding $ 22,635 $ 22,772
[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 November 23, 2022, the Company entered into an interest rate cap agreement to cap the SOFR interest rate at 4.65% effective January 1, 2023, which replaced the existing interest rate cap agreement that capped the SOFR interest rate at 3.5%.
[2] The outstanding balance includes $0.3 million of exit fees.
[3] At March 31, 2023, the floating rate loans tied to the London Inter-Bank Offered Rate (“LIBOR”) were based on the one-month LIBOR rate of 4.86%.
[4] The outstanding balance reflects the fair value of the debt.
[5] The Company has entered into an interest rate swap which fixes the interest rate of this loan at 4.06%. On May 3, 2023, the Hollinswood loan agreement was amended to replace LIBOR with SOFR.
[6] The outstanding balance includes approximately $0.3 million of indebtedness as of each of March 31, 2023 and December 31, 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.
[7] On May 5, 2023, the Company refinanced the Highlandtown Village Shopping Center Loan to extend the maturity date to May 10, 2028 and entered into an interest rate swap which fixes the interest rate of the new loan at 6.085% as described below under the heading “Mortgage Indebtedness”. The prior loan carried an interest rate of 4.13%.
[8] he Company entered into an interest rate swap which fixes the interest rate of this loan at 4.082%. On May 1, 2023, the interest rate was amended to replace Prime with SOFR plus a spread of 2.85%. The Company terminated the existing interest rate swap and entered into a new interest rate swap agreement to fix the interest rate at 5.85%.