Derivatives (Tables)

9 Months Ended

Sep. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

The following table summarizes the Company’s derivative instruments as of September 30, 2022 and December 31, 2021:

						Interest Rate Range(1)		Fair Value Assets (Liabilities)
Underlying Debt Instrument	Number of Derivatives	Notional Amount		Effective Date	Maturity Date	Low	High	September 30, 2022		December 31, 2021
Interest rate swaps
Hollywood Media Portfolio(2)(3)	2	$	350,000	April 2015	April 2022	2.96%	3.46%	$	—	$	(1,413)
Hollywood Media Portfolio(2)(3)	1	125,000		June 2016	November 2022	2.63%	3.13%	304		(1,122)
Interest rate cap						Strike rate
Hollywood Media Portfolio(4)	1	1,100,000		August 2021	August 2023	3.50%		8,497		368
TOTAL								$	8,801	$	(2,167)

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1.The rate is based on the fixed rate from the swap and the spread based on the operating partnership’s leverage ratio.

2.The swaps were designated under the first payments approach within hedge accounting, where the Company elected to designate a cash flow (LIBOR-based interest payments) instead of a specific piece of debt.

3.These derivatives were designated as effective cash flow hedges for accounting purposes.

4.The interest rate cap is not designated under hedge accounting and is accounted for under mark-to-market accounting.