INVESTMENT IN UNCONSOLIDATED AND CONSOLIDATED JOINT VENTURES (Tables)

6 Months Ended

Jun. 30, 2022

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Condensed Statements of Operations and Balance Sheet Information of Consolidated and Unconsolidated Joint Ventures

Unaudited condensed statement of operations for the six months ended June 30, 2022 and condensed balance sheet information of the Company’s unconsolidated joint ventures as of June 30, 2022 and December 31, 2021 are as follows:

	Three Months Ended June 30,
	2022		2021		2022		2021		2022		2021
	Joint Venture								TRC
($ in thousands)	Revenues				Earnings (Loss)				Equity in Earnings (Loss)
Petro Travel Plaza Holdings, LLC	$	49,469	$	34,496	$	3,256	$	2,537	$	1,953	$	1,522
18-19 West, LLC	—		252		(47)		216		(24)		107
TRCC/Rock Outlet Center, LLC1	1,376		1,401		(964)		(730)		(482)		(365)
TRC-MRC 1, LLC	801		795		(25)		10		(12)		5
TRC-MRC 2, LLC	1,031		1,004		338		309		169		155
TRC-MRC 3, LLC	1,015		974		126		(118)		63		(59)
TRC-MRC 4, LLC	—		—		(10)		—		(4)		—
Total	$	53,692	$	38,922	$	2,674	$	2,224	$	1,663	$	1,365
Centennial Founders, LLC	$	203	$	122	$	78	$	(22)	Consolidated
(1) Revenues for TRCC/Rock Outlet Center are presented net of non-cash tenant allowance amortization of $0.3 million and $0.3 million as of the three months ended June 30, 2022 and June 30, 2021, respectively.

	Six Months Ended June 30,
	2022		2021		2022		2021		2022		2021
	Joint Venture								TRC
($ in thousands)	Revenues				Earnings (Loss)				Equity in Earnings (Loss)
Petro Travel Plaza Holdings, LLC	$	87,797	$	58,317	$	5,190	$	2,780	$	3,114	$	1,668
18-19 West, LLC	—		254		(47)		181		(24)		90
TRCC/Rock Outlet Center, LLC1	2,940		2,676		(1,378)		(1,419)		(689)		(709)
TRC-MRC 1, LLC	1,640		1,642		(6)		97		(3)		48
TRC-MRC 2, LLC	2,056		2,019		682		645		341		323
TRC-MRC 3, LLC	2,033		1,944		284		(227)		142		(114)
TRC-MRC 4, LLC	—		—		(11)		—		(5)		—
Total	$	96,466	$	66,852	$	4,714	$	2,057	$	2,876	$	1,306
Centennial Founders, LLC	$	324	$	251	$	175	$	89	Consolidated
(1) Revenues for TRCC/Rock Outlet Center are presented net of non-cash tenant allowance amortization of $0.6 million and $0.6 million as of the six months ended June 30, 2022 and June 30, 2021, respectively.

	June 30, 2022								December 31, 2021
	Joint Venture						TRC		Joint Venture						TRC
($ in thousands)	Assets		Debt		Equity		Equity		Assets		Debt		Equity		Equity
Petro Travel Plaza Holdings, LLC	$	85,290	$	(14,466)	$	64,050	$	26,029	$	78,064	$	(14,848)	$	58,859	$	22,915
18-19 West, LLC	384		—		384		—		14,965		—		14,895		6,877
TRCC/Rock Outlet Center, LLC	60,028		(28,249)		30,945		7,409		61,927		(28,783)		32,323		8,098
TRC-MRC 1, LLC	24,454		(23,097)		993		—		24,964		(23,400)		1,209		—
TRC-MRC 2, LLC	20,720		(22,937)		(2,834)		—		20,497		(23,255)		(5,657)		—
TRC-MRC 3, LLC	36,929		(34,913)		827		531		37,579		(35,324)		(914)		859
TRC-MRC 4, LLC	39,501		(30,088)		9,330		4,663		25,671		(16,307)		9,319		4,669
Total	$	267,306	$	(153,750)	$	103,695	$	38,632	$	263,667	$	(141,917)	$	110,034	$	43,418
Centennial Founders, LLC	$	102,033	$	—	$	101,835	***		$	101,178	$	—	$	100,261	***
*** Centennial Founders, LLC is consolidated within the Company's financial statements.