INVESTMENT IN UNCONSOLIDATED AND CONSOLIDATED JOINT VENTURES (Tables)

6 Months Ended

Jun. 30, 2024

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 statements of operations for the three and six months ended June 30, 2024 and 2023 and condensed balance sheet information of the Company’s unconsolidated joint ventures as of June 30, 2024 and December 31, 2023 are as follows:

	Three Months Ended June 30,
	2024		2023		2024		2023		2024		2023
	Joint Venture								TRC
($ in thousands)	Revenues				Earnings (Loss)				Equity in Earnings (Loss)
Petro Travel Plaza Holdings, LLC	$	41,399	$	40,214	$	3,959	$	2,874	$	2,376	$	1,725
TRCC/Rock Outlet Center, LLC1	1,672		1,563		(673)		(872)		(337)		(437)
TRC-MRC 1, LLC	992		1,158		119		357		59		178
TRC-MRC 2, LLC	1,713		1,431		666		734		333		367
TRC-MRC 3, LLC	1,078		1,081		210		207		105		104
TRC-MRC 4, LLC	2,189		1,759		365		18		182		9
TRC-MRC 5, LLC	1,398		—		101		(16)		51		(8)
Total	$	50,441	$	47,206	$	4,747	$	3,302	$	2,769	$	1,938
Centennial Founders, LLC	$	10	$	—	$	(18)	$	(71)	Consolidated
(1) Revenues for TRCC/Rock Outlet Center are presented net of non-cash tenant allowance amortization of $0.3 million for the three months ended June 30, 2024 and June 30, 2023.

	Six Months Ended June 30,
	2024		2023		2024		2023		2024		2023
	Joint Venture								TRC
($ in thousands)	Revenues				Earnings (Loss)				Equity in Earnings (Loss)
Petro Travel Plaza Holdings, LLC	$	75,898	$	75,026	$	5,365	$	5,144	$	3,219	$	3,087
TRCC/Rock Outlet Center, LLC1	3,504		2,994		(1,265)		(1,759)		(633)		(880)
TRC-MRC 1, LLC	1,857		2,119		303		453		151		226
TRC-MRC 2, LLC	3,195		2,821		1,776		1,401		888		701
TRC-MRC 3, LLC	2,186		2,132		427		403		214		202
TRC-MRC 4, LLC	3,962		3,535		643		269		321		134
TRC-MRC 5, LLC	2,970		—		243		(30)		122		(15)
Total	$	93,572	$	88,627	$	7,492	$	5,881	$	4,282	$	3,455
Centennial Founders, LLC	$	66	$	175	$	(13)	$	38	Consolidated
(1) Revenues for TRCC/Rock Outlet Center are presented net of non-cash tenant allowance amortization of $0.7 million and $0.6 million for the six months ended June 30, 2024 and June 30, 2023, respectively.

	June 30, 2024								December 31, 2023
	Joint Venture						TRC		Joint Venture						TRC
($ in thousands)	Assets		Debt		Equity (Deficit)		Equity		Assets		Debt		Equity (Deficit)		Equity
Petro Travel Plaza Holdings, LLC	$	78,378	$	(12,174)	$	58,315	$	22,589	$	72,633	$	(12,556)	$	52,950	$	19,370
TRCC/Rock Outlet Center, LLC	55,904		(20,702)		34,270		9,311		58,040		(20,850)		35,535		9,943
TRC-MRC 1, LLC	24,430		(21,811)		1,867		—		25,224		(22,144)		1,684		—
TRC-MRC 2, LLC	20,486		(21,591)		(739)		—		18,882		(21,939)		(2,597)		—
TRC-MRC 3, LLC	35,422		(33,179)		3,076		234		35,467		(33,627)		2,087		141
TRC-MRC 4, LLC	50,045		(61,361)		(10,388)		—		49,964		(61,776)		(12,192)		—
TRC-MRC 5, LLC	52,279		(53,170)		123		—		49,687		(35,138)		8,390		4,194
Total	$	316,944	$	(223,988)	$	86,524	$	32,134	$	309,897	$	(208,030)	$	85,857	$	33,648
Centennial Founders, LLC	$	106,297	$	—	$	105,940	***		$	104,979	$	—	$	104,753	***
*** Centennial Founders, LLC is consolidated within the Company's financial statements.