Investment in Unconsolidated and Consolidated Joint Ventures (Tables)

9 Months Ended

Sep. 30, 2020

Equity Method Investments and Joint Ventures [Abstract]

Condensed statements of operations and balance sheet information of consolidated and unconsolidated joint ventures

Unaudited condensed statement of operations for the three months ended September 30, 2020 and condensed balance sheet information of the Company’s unconsolidated joint ventures as of September 30, 2020 and December 31, 2019 are as follows:

	Three Months Ended September 30,
	2020		2019		2020		2019		2020		2019
	Joint Venture								TRC
($ in thousands)	Revenues				Earnings (Loss)				Equity in Earnings (Loss)
Petro Travel Plaza Holdings, LLC	$	23,087	$	31,215	$	2,311	$	3,741	$	1,387	$	2,244
Five West Parcel, LLC	—		780		(5)		321		(3)		160
18-19 West, LLC	1		5		(37)		(26)		(18)		(13)
TRCC/Rock Outlet Center, LLC1	1,042		1,667		(1,667)		(730)		(834)		(364)
TRC-MRC 1, LLC	759		781		12		30		6		14
TRC-MRC 2, LLC	1,033		1,008		344		317		172		158
TRC-MRC 3, LLC	1,675		—		766		—		383		—
Total	$	27,597	$	35,456	$	1,724	$	3,653	$	1,093	$	2,199
Centennial Founders, LLC	$	53	$	97	$	(188)	$	(128)	Consolidated
(1) Revenues for TRCC/Rock Outlet Center are presented net of non-cash tenant allowance amortization of $0.4 million and $0.4 million as of September 30, 2020 and September 30, 2019, respectively.

	Nine Months Ended September 30,
	2020		2019		2020		2019		2020		2019
	Joint Venture								TRC
($ in thousands)	Revenues				Earnings (Loss)				Equity in Earnings (Loss)
Petro Travel Plaza Holdings, LLC	$	63,001	$	88,015	$	7,280	$	9,534	$	4,368	$	5,720
Five West Parcel, LLC	—		2,200		13		732		6		366
18-19 West, LLC	5		12		(101)		(80)		(50)		(40)
TRCC/Rock Outlet Center, LLC1	3,834		4,878		(3,507)		(2,849)		(1,754)		(1,424)
TRC-MRC 1, LLC	2,332		2,283		81		51		41		25
TRC-MRC 2, LLC	3,056		2,988		1,014		799		507		399
TRC-MRC 3, LLC	3,031		—		1,022		—		511		—
Total	$	75,259	$	100,376	$	5,802	$	8,187	$	3,629	$	5,046
Centennial Founders, LLC	$	285	$	333	$	(121)	$	(36)	Consolidated
(1) Revenues for TRCC/Rock Outlet Center are presented net of non-cash tenant allowance amortization of $1.0 million and $1.3 million as of September 30, 2020 and September 30, 2019, respectively.

	September 30, 2020								December 31, 2019
	Joint Venture						TRC		Joint Venture						TRC
($ in thousands)	Assets		Debt		Equity		Equity		Assets		Debt		Equity		Equity
Petro Travel Plaza Holdings, LLC	$	75,646	$	(15,034)	$	57,341	$	22,004	$	77,835	$	(15,287)	$	60,061	$	23,636
Five West Parcel, LLC	43		—		43		—		694		—		648		140
18-19 West, LLC	4,637		—		4,379		1,619		4,849		—		4,600		1,730
TRCC/Rock Outlet Center, LLC	66,827		(35,286)		30,281		7,076		69,459		(38,909)		29,688		6,781
TRC-MRC 1, LLC	28,507		(24,126)		3,611		—		28,673		(24,542)		3,623		—
TRC-MRC 2, LLC	20,504		(24,018)		(8,257)		—		20,026		(24,455)		(7,094)		—
TRC-MRC 3, LLC	43,236		(35,785)		7,074		6,464		37,292		(28,061)		6,052		5,953
Total	$	239,400	$	(134,249)	$	94,472	$	37,163	$	238,828	$	(131,254)	$	97,578	$	38,240
Centennial Founders, LLC	$	98,130	$	—	$	97,547	***		$	96,415	$	—	$	96,143	***
*** Centennial Founders, LLC is consolidated within the Company's financial statements.