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Fair Value Measurements and Derivative Instruments (Tables)
 12 Months Ended
Dec. 31, 2020
Fair Value Measurements and Derivative Instruments [Abstract]  
Schedule of Interest Rate Swaps and Caps



 

 

 

 

 

 

 

 

 

 

 

 

 

 

Associated debt

 

Type

 

Terms

 

Effective Date

 

Maturity Date

 

Notional amount at December  31, 2020

 

Notional amount at December  31, 2019

Wells Fargo

 

Swap

 

Swaps 30-day LIBOR for fixed rate of 2.053%

 

11/2017

 

11/2022

 

$

25,386 (1)

 

$

25,612 (1)

Credit facility

 

Cap

 

Caps 30-day LIBOR at 3.35%

 

4/1/2019

 

10/2020

 

$

 -

 

$

 30,000 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)

Notional amounts amortize consistently with the principal amortization of the associated loans. 
Schedule of Fair Value Assets and (Liabilities) Carried at Fair Value and Measured on Recurring Basis



 

 

 

 

 

 

 

 

 

 

 

 



 

Fair value at December 31, 2020

 

Level 1

 

Level 2

 

Level 3

Interest rate derivatives

 

$

 (880)

 

$

 -

 

$

 (880)

 

$

 -

Series E Preferred embedded redemption option

 

 

 -

 

 

 -

 

 

 -

 

 

 -

Convertible debt

 

 

 (16,875)

 

 

 -

 

 

 -

 

 

 (16,875)

Total

 

$

 (17,755)

 

$

 -

 

$

 (880)

 

$

 (16,875)







 

 

 

 

 

 

 

 

 

 

 

 



 

Fair value at December 31, 2019

 

Level 1

 

Level 2

 

Level 3

Interest rate derivatives

 

$

 (366)

 

$

 -

 

$

 (366)

 

$

 -

Series E Preferred embedded redemption option

 

 

 22 

 

 

 -

 

 

 -

 

 

 22 

Convertible debt

 

 

 (1,080)

 

 

 -

 

 

 -

 

 

 (1,080)

Total

 

$

 (1,424)

 

$

 -

 

$

 (366)

 

$

 (1,058)



Reconciliation of Items Measured at Fair Value on a Recurring Basis





 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



Year ended December 31,



 

2020

 

 

2019



Series E Preferred embedded redemption option

 

Convertible debt

 

Total

 

Series E Preferred embedded redemption option

 

Convertible debt

 

Total

Fair value, beginning of period

$

 22 

 

$

 (1,080)

 

$

 (1,058)

 

$

 289 

 

$

 (1,000)

 

$

 (711)

Net gains (losses) recognized in earnings

 

 (22)

 

 

 (5,795)

 

 

 (5,817)

 

 

 (267)

 

 

 (80)

 

 

 (347)

Purchase and issuances

 

 -

 

 

 (10,000)

 

 

 (10,000)

 

 

 -

 

 

 -

 

 

 -

Sales and settlements

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

Gross transfers into Level 3

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

Gross transfers out of Level 3

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

Fair value, end of period

$

 -

 

$

 (16,875)

 

$

 (16,875)

 

$

 22 

 

$

 (1,080)

 

$

 (1,058)



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total unrealized gains (losses) during the period included in earnings related to instruments held at end of period

$

 (22)

 

$

 (5,795)

 

$

 (5,817)

 

$

 (267)

 

$

 (80)

 

$

 (347)



Schedule of Carrying Value and Estimated Fair Value of Long-Term Debt



 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 



 

Carrying value at December 31,

 

Estimated fair value at December 31,



 

2020

 

2019

 

2020

 

2019

Total

 

$

 166,526 

 

$

 134,001 

 

$

 167,349 

 

$

 134,288