XML 18 R52.htm IDEA: XBRL DOCUMENT v3.19.3
Related Party and Other Financing Transactions (Details Narrative) - USD ($)
1 Months Ended 3 Months Ended
Sep. 28, 2018
Aug. 31, 2018
Jul. 31, 2018
Jul. 31, 2018
Jul. 31, 2019
Sep. 30, 2019
Jun. 30, 2019
May 12, 2017
May 11, 2017
Dec. 31, 2013
Agreement description           Justice entered into a Hotel management agreement ("HMA") with Interstate Management Company, LLC ("Interstate") to manage the Hotel, along with its five-level parking garage, with an effective takeover date of February 3, 2017. The term of the management agreement is for an initial period of ten years commencing on the takeover date and automatically renews for successive one (1) year periods, to not exceed five years in the aggregate, subject to certain conditions. Under the terms on the HMA, base management fee payable to Interstate shall be one and seven-tenths percent (1.70%) of total Hotel revenue. On August 29, 2019, Interstate announced that it entered into a definitive agreement to merge with Aimbridge Hospitality. The transaction is subject to regulatory and customary closing conditions and is expected to be completed by the end of calendar year 2019.        
Key money plus accrued interest amount           $ 999,000 $ 2,049,000      
Finance lease obligations           $ 1,385,000 $ 1,486,000      
Lease descriptions           These finance leases expire in various years through 2023 at rates ranging from 5.77% to 6.25% per annum.        
Drawn to pay off mortgage note payable   $ 1,005,000                
Maturity date description The note matures in October 2048                  
Mortgage and mezzanine amount $ 1,000,000                  
Mortgage Loan [Member]                    
Mortgage and mezzanine amount                   $ 97,000,000
Mezzanine Loan [Member]                    
Mortgage and mezzanine amount                   $ 20,000,000
Intergroup Woodland Village, Inc [Member]                    
Drawn to pay off mortgage note payable       $ 2,969,000            
Santa Fe [Member]                    
Ownership interest percentage     55.40% 55.40%   86.30%        
InterGroup [Member]                    
Ownership interest percentage     44.60% 44.60%            
Variable interest rate LIBOR     The RLOC carries a variable interest rate of 30-day LIBOR plus 3%.              
Mortgage due to related party amount         $ 2,969,000          
Maturity date description         July 24, 2019 to July 23, 2020          
Increase in line of credit facility         $ 3,000,000          
InterGroup [Member] | Mortgage Loan [Member]                    
Mortgage and mezzanine amount               $ 97,000,000 $ 97,000,000  
InterGroup [Member] | Mezzanine Loan [Member]                    
Mortgage and mezzanine amount               $ 20,000,000 $ 20,000,000  
InterGroup [Member] | CIBC Bank [Member]                    
Revolving line of credit     $ 5,000,000 $ 5,000,000            
Minimum [Member]                    
Financial leases, rate per annum           5.77%        
Maximum [Member]                    
Financial leases, rate per annum           6.25%        
Hotel Management Agreement [Member]                    
Agreement description           The term of the management agreement is for an initial period of 10 years commencing on the takeover date and automatically renews for an additional year not to exceed five years in aggregate subject to certain conditions. The HMA also provides for Interstate to advance a key money incentive fee to the Hotel for capital improvements in the amount of $2,000,000 under certain terms and conditions described in a separate key money agreement. The key money contribution shall be amortized in equal monthly amounts over an eight (8) year period commencing on the second (2nd) anniversary of the takeover date.        
Key money incentive fee           $ 2,000,000        
Hilton [Member]                    
Notes reduced           $ 316,000        
Debt instrument, payment terms           through 2030