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Note 7 - Mortgage and Other Indebtedness - Schedule of Debt Balance (Details) - USD ($)
$ in Thousands
12 Months Ended
Jun. 28, 2023
May 05, 2023
Dec. 31, 2023
Dec. 31, 2022
Debt Instrument [Line Items]        
Debt instrument variable rate 7.73%      
Balance outstanding     $ 233,087 $ 269,474
Unamortized deferred financing costs     (2,038) (1,858)
Total Mortgage and Other Indebtedness     $ 231,049 267,616
Basis Term Loan [Member]        
Debt Instrument [Line Items]        
Maturity Date     Jul. 01, 2024  
Rate Type [1],[2]     Floating (2)  
Debt instrument variable rate     8.62%  
Balance outstanding [3]     $ 8,491 67,086
Hollinswood Shopping Center Loan [Member]        
Debt Instrument [Line Items]        
Maturity Date     Dec. 01, 2024  
Rate Type [1],[4]     SOFR + 2.36  
Debt instrument variable rate     4.06%  
Balance outstanding     $ 12,437 12,760
Avondale Shops Loan [Member]        
Debt Instrument [Line Items]        
Maturity Date     Jun. 01, 2025  
Rate Type [1]     Fixed  
Debt instrument variable rate     4.00%  
Balance outstanding     $ 2,868 2,985
Vista Shops at Golden Mile Loan [Member]        
Debt Instrument [Line Items]        
Maturity Date Jun. 24, 2024   Jun. 24, 2024 [5]  
Rate Type [1],[5]     Fixed  
Debt instrument variable rate [5]     7.73%  
Balance outstanding [5]     $ 11,252 11,478
Brookhill Azalea Shopping Center Loan [Member]        
Debt Instrument [Line Items]        
Maturity Date     Jan. 31, 2025  
Rate Type [1]     SOFR + 2.75%  
Debt instrument variable rate     8.10%  
Balance outstanding     $ 9,198 8,762
Crestview Shopping Center Loan [Member]        
Debt Instrument [Line Items]        
Maturity Date     Sep. 29, 2026  
Rate Type [1]     Fixed  
Debt instrument variable rate     7.83%  
Balance outstanding     $ 11,947 0
Lamar Station Plaza West Loan [Member]        
Debt Instrument [Line Items]        
Maturity Date     Dec. 10, 2027  
Rate Type [1]     Fixed  
Debt instrument variable rate     5.67%  
Balance outstanding     $ 18,927 18,317
Lamont Street Preferred Interest Loan [Member]        
Debt Instrument [Line Items]        
Maturity Date [6]     Sep. 30, 2023  
Rate Type [1],[6]     Fixed  
Debt instrument variable rate [6]     13.50%  
Balance outstanding [6]     $ 0 4,241
Highlandtown Village Shopping Center Loan [Member]        
Debt Instrument [Line Items]        
Maturity Date   May 10, 2028 May 10, 2028 [7]  
Rate Type [1],[7]     SOFR + 2.5%  
Debt instrument variable rate [7]     6.09%  
Balance outstanding [7]     $ 8,712 5,241
Cromwell Field Shopping Center Loan [Member]        
Debt Instrument [Line Items]        
Maturity Date     Dec. 22, 2027  
Rate Type [1]     Fixed  
Debt instrument variable rate     6.71%  
Balance outstanding     $ 10,597 10,113
Midtown Row Loan [Member]        
Debt Instrument [Line Items]        
Maturity Date     Dec. 01, 2027  
Rate Type [1]     Fixed  
Debt instrument variable rate     6.48%  
Balance outstanding     $ 75,981 75,975
Fortress Mezzanine Loan [Member]        
Debt Instrument [Line Items]        
Maturity Date [8]     Dec. 01, 2027  
Rate Type [1],[8]     Fixed  
Debt instrument variable rate [8]     12.00%  
Balance outstanding [8]     $ 16,187 17,895
Spotswood Valley Square Shopping Center Loan [Member]        
Debt Instrument [Line Items]        
Maturity Date     Jul. 06, 2023  
Rate Type [1]     Fixed  
Debt instrument variable rate     4.82%  
Balance outstanding     $ 0 11,849
Coral Hills Shopping Center Loan [Member]        
Debt Instrument [Line Items]        
Maturity Date     Oct. 31, 2033  
Rate Type [1]     Fixed  
Debt instrument variable rate     6.95%  
Balance outstanding     $ 12,560 0
West Broad Shopping Center Loan [Member]        
Debt Instrument [Line Items]        
Maturity Date     Dec. 21, 2033  
Rate Type [1]     Fixed  
Debt instrument variable rate     7.00%  
Balance outstanding     $ 11,712 0
The Shops at Greenwood Village Loan [Member]        
Debt Instrument [Line Items]        
Maturity Date     Oct. 10, 2028  
Rate Type [1],[9]     SOFR + 2.85  
Debt instrument variable rate     5.85%  
Balance outstanding     $ 22,218 $ 22,772
[1] Beginning July 1, 2023, one-month London Inter-Bank Offered Rate (“LIBOR”) is no longer published and all remaining debt referencing LIBOR was replaced with the Secured Overnight Financing Rate (“SOFR”).
[2] The interest rate for the Basis Term Loan is the greater of (i) SOFR 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%.
[3] The outstanding balance includes less than $0.1 million and $0.3 million of exit fees at December 31, 2023 and 2022, respectively.
[4] 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, effective July 1, 2023.
[5] On June 28, 2023, the Company entered into an agreement to amend the interest rate to 7.73% and extend the maturity date of this loan to June 24, 2024. On February 8, 2024, the Company refinanced the Vista Shops at Golden Mile Loan to extend the maturity date to February 8, 2029 and entered into an interest rate swap which fixes the interest rate of the new loan at 6.90%.
[6] The outstanding balance includes approximately $0.3 million of indebtedness as of 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] The outstanding balance reflects the fair value of the debt.
[9] On October 6, 2021, the 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%.