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Equity (Tables)
12 Months Ended
Dec. 31, 2021
Equity [Abstract]  
Tax Components Of Dividends Declared

The tax composition of the Company’s distributions declared for the years ended December 31, 2021, 2020 and 2019 were as follows:

 

 

Years Ended December 31,

 

 

 

2021

 

 

2020

 

 

2019

 

Ordinary income

 

 

43.82

%

 

 

21.88

%

 

 

0.00

%

Capital gain

 

 

0.00

%

 

 

0.62

%

 

 

42.85

%

Unrecaptured Sec. 1250 gain

 

 

0.00

%

 

 

11.15

%

 

 

20.10

%

Return of capital

 

 

56.18

%

 

 

66.35

%

 

 

37.05

%

Distribution Of Promoted Interest To Holder For the years ended December 31, 2021, 2020 and 2019, the Company accrued, as a reversal to capital in excess of par value, the following distributions to holders of promoted interest (in thousands):

 

 

Years Ended December 31,

 

 

 

2021

 

 

2020

 

 

2019

 

Dogwood Forest of Grayson

 

$

 

 

$

 

 

$

406

 

 

 

$

 

 

$

 

 

$

406

 

 

Effect of Derivative Financial Instruments The following table reflects the effect of derivative financial instruments held by the Company, or its equity method investment, and included in the consolidated statements of comprehensive income (loss) for the years ended December 31, 2021, 2020 and 2019 (in thousands):

Derivative financial instruments

 

Gain (loss) recognized in other comprehensive loss on derivative financial instruments

 

 

Location of gain (loss) reclassified into earnings

 

Gain (loss) reclassified from accumulated other comprehensive income (loss) into earnings

 

 

 

Years Ended December 31,

 

 

 

 

Years Ended December 31,

 

 

 

2021

 

 

2020

 

 

2019

 

 

 

 

2021

 

 

2020

 

 

2019

 

Interest rate swaps

 

$

 

 

$

 

 

$

(846

)

 

Interest expense and loan cost amortization

 

$

 

 

$

 

 

$

921

 

Interest rate caps

 

 

40

 

 

 

11

 

 

 

(134

)

 

Interest expense and loan cost amortization

 

 

(32

)

 

 

(44

)

 

 

(361

)

Reclassification of interest rate swaps upon derecognition

 

 

 

 

 

 

(509

)

 

Interest expense and loan cost amortization

 

 

 

 

 

 

509

 

Reclassification of interest rate caps upon derecognition

 

 

 

 

2

 

 

 

265

 

 

Interest expense and loan cost amortization

 

 

 

 

(2

)

 

 

(265

)

Interest rate cap held by unconsolidated joint venture

 

 

5

 

 

 

(12

)

 

 

11

 

 

Equity in earnings of unconsolidated entity

 

 

(5

)

 

 

(3

)

 

 

(11

)

Total

 

$

45

 

 

$

1

 

 

$

(1,213

)

 

 

 

$

(37

)

 

$

(49

)

 

$

793