INVESTMENT IN UNCONSOLIDATED AND CONSOLIDATED JOINT VENTURES (Tables)

3 Months Ended

Mar. 31, 2025

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 months ended March 31, 2025 and 2024 and condensed balance sheet information of the Company’s unconsolidated joint ventures as of March 31, 2025 and December 31, 2024 are as follows:

	Three Months Ended March 31,
	2025		2024		2025		2024		2025		2024
	Joint Venture								TRC
($ in thousands)	Revenues				Earnings (Loss)				Equity in Earnings (Loss)
Petro Travel Plaza Holdings, LLC	$	31,472	$	34,499	$	888	$	1,406	$	533	$	843
TRCC/Rock Outlet Center, LLC1	1,650		1,832		(729)		(592)		(365)		(296)
TRC-MRC 1, LLC	1,283		865		438		184		219		92
TRC-MRC 2, LLC	1,820		1,482		1,077		1,110		538		555
TRC-MRC 3, LLC	1,121		1,108		247		217		123		109
TRC-MRC 4, LLC	1,936		1,773		209		278		105		139
TRC-MRC 5, LLC	1,698		1,572		9		142		5		71
Total	$	40,980	$	43,131	$	2,139	$	2,745	$	1,158	$	1,513
Centennial Founders, LLC	$	—	$	56	$	(36)	$	5	Consolidated
1 Revenues for TRCC/Rock Outlet Center are presented net of non-cash tenant allowance amortization of $0.2 million and $0.4 million for the three months ended March 31, 2025 and March 31, 2024, respectively.

	March 31, 2025								December 31, 2024
	Joint Venture						TRC		Joint Venture						TRC
($ in thousands)	Assets		Debt		Equity (Deficit)		Equity		Assets		Debt		Equity (Deficit)		Equity
Petro Travel Plaza Holdings, LLC	$	73,047	$	(11,602)	$	54,459	$	20,356	$	73,558	$	(11,793)	$	53,571	$	19,823
TRCC/Rock Outlet Center, LLC	53,888		(20,464)		32,103		8,227		54,533		(20,545)		32,832		8,592
TRC-MRC 1, LLC	24,559		(21,297)		2,629		—		24,539		(21,470)		2,591		—
TRC-MRC 2, LLC	22,268		(21,053)		1,270		390		21,552		(21,234)		768		77
TRC-MRC 3, LLC	34,568		(32,489)		2,115		216		34,436		(32,722)		2,529		142
TRC-MRC 4, LLC	48,957		(60,675)		(12,109)		—		49,118		(60,906)		(10,664)		—
TRC-MRC 5, LLC	49,607		(52,605)		(1,879)		—		49,556		(52,795)		(643)		—
TRC-DP1, LLC	—		—		—		457		—		—		—		346
Total	$	306,894	$	(220,185)	$	78,588	$	29,646	$	307,292	$	(221,465)	$	80,984	$	28,980
Centennial Founders, LLC	$	107,530	$	—	$	107,280	***		$	107,015	$	—	$	106,766	***
*** Centennial Founders, LLC, is consolidated within the Company's financial statements.