INVESTMENT IN UNCONSOLIDATED AND CONSOLIDATED JOINT VENTURES (Tables)

3 Months Ended

Mar. 31, 2023

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 three months ended March 31, 2023 and condensed balance sheet information of the Company’s unconsolidated joint ventures as of March 31, 2023 and December 31, 2022 are as follows:

	Three Months Ended March 31,
	2023		2022		2023		2022		2023		2022
	Joint Venture								TRC
($ in thousands)	Revenues				Earnings (Loss)				Equity in Earnings (Loss)
Petro Travel Plaza Holdings, LLC	$	34,812	$	38,328	$	2,270	$	1,934	$	1,362	$	1,161
TRCC/Rock Outlet Center, LLC1	1,431		1,564		(887)		(414)		(443)		(207)
TRC-MRC 1, LLC	961		839		96		19		48		9
TRC-MRC 2, LLC	1,390		1,025		667		344		334		172
TRC-MRC 3, LLC	1,051		1,018		196		158		98		79
TRC-MRC 4, LLC	1,776		—		251		(1)		125		(1)
TRC-MRC 5, LLC	—		—		(14,000)		—		(7,000)		—
Total	$	41,421	$	42,774	$	2,579	$	2,040	$	1,517	$	1,213
Centennial Founders, LLC	$	175	$	121	$	109	$	97	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 for the three months ended March 31, 2023 and March 31, 2022, respectively.

	March 31, 2023								December 31, 2022
	Joint Venture						TRC		Joint Venture						TRC
($ in thousands)	Assets		Debt		Equity (Deficit)		Equity		Assets		Debt		Equity (Deficit)		Equity
Petro Travel Plaza Holdings, LLC	$	82,290	$	(13,128)	$	62,339	$	25,004	$	84,225	$	(13,318)	$	63,069	$	25,441
TRCC/Rock Outlet Center, LLC	58,286		(27,432)		(29,797)		6,835		59,196		(27,707)		30,684		7,279
TRC-MRC 1, LLC	23,631		(22,629)		638		—		24,085		(22,787)		1,042		—
TRC-MRC 2, LLC	19,048		(22,447)		(3,589)		—		18,398		(22,612)		(3,939)		—
TRC-MRC 3, LLC	36,350		(34,281)		1,861		209		36,608		(34,494)		2,690		386
TRC-MRC 4, LLC	52,858		(62,400)		(12,859)		—		50,497		(40,130)		8,974		4,485
TRC-MRC 5, LLC	10,741		(1,419)		8,586		4,243		8,602		—		—		4,300
Total	$	283,204	$	(183,736)	$	27,179	$	36,291	$	281,611	$	(161,048)	$	102,520	$	41,891
Centennial Founders, LLC	$	103,532	$	—	$	103,347	***		$	102,984	$	—	$	102,689	***
*** Centennial Founders, LLC is consolidated within the Company's financial statements.