XML 48 R39.htm IDEA: XBRL DOCUMENT v3.23.3
LOANS AND MORTGAGES PAYABLE AND OTHER LONG-TERM INDEBTEDNESS (Details Narrative) - USD ($)
$ in Millions
9 Months Ended 12 Months Ended
Jul. 19, 2023
May 12, 2023
Mar. 09, 2023
Nov. 07, 2022
Feb. 06, 2022
Sep. 30, 2023
Dec. 31, 2022
Jul. 18, 2023
Feb. 24, 2023
Feb. 23, 2023
Nov. 06, 2022
Line of Credit Facility [Line Items]                      
Interest rate           7.26% 6.76%        
Weighted average loan maturity           5 years 5 years 1 month 6 days        
Series A Bonds [Member]                      
Line of Credit Facility [Line Items]                      
Debt instrument maturity date         Feb. 28, 2027            
Sale of stock number of value issued in transaction         $ 102.7            
Debt instrument interest rate stated percentage         4.72%            
Sale of stock consideration received on transaction         $ 98.7            
First Bank [Member]                      
Line of Credit Facility [Line Items]                      
Interest rate   6.15%                  
Term loan   $ 25.0                  
Loan Maturity   5 years                  
Maximum [Member] | Series A Bonds [Member]                      
Line of Credit Facility [Line Items]                      
Debt instrument interest rate stated percentage         1.25%            
Triad Financial Services Secured by Rental Homes and Rental Home Leases [Member]                      
Line of Credit Facility [Line Items]                      
Revolving line of credit     $ 30.0                
Triad Financial Services Secured by Rental Homes and Rental Home Leases [Member] | Minimum [Member]                      
Line of Credit Facility [Line Items]                      
Interest rate     5.00%                
Triad Financial Services Secured by Rental Homes and Rental Home Leases [Member] | Prime Rate [Member]                      
Line of Credit Facility [Line Items]                      
Interest rate     0.25%                
Ocean First Bank [Member]                      
Line of Credit Facility [Line Items]                      
Revolving line of credit $ 35.0             $ 20.0      
Debt instrument maturity date Jun. 01, 2025                    
Ocean First Bank [Member] | Prime Rate [Member]                      
Line of Credit Facility [Line Items]                      
Interest rate 4.75%                    
Unsecured Line of Credit [Member]                      
Line of Credit Facility [Line Items]                      
Line of credit facility, available borrowings                 $ 180.0 $ 100.0  
Line of credit           $ 100.0          
Interest rate           7.27% 5.88%        
Unsecured Revolving Credit Facility [Member] | Amended and Restated Credit Agreement [Member]                      
Line of Credit Facility [Line Items]                      
Line of credit facility, borrowing capacity, description       The expanded Facility is syndicated with two banks, BMO and JPMorgan, as joint arrangers and joint book runners, with Bank of Montreal as administrative agent.              
Line of credit facility, available borrowings       $ 100.0             $ 75.0
Line of credit accordion feature       400.0              
Revolving line of credit       $ 500.0              
Line of credit facility, description           Availability under the amended Facility is limited to 60% of the value of the unencumbered communities which the Company has placed in the Facility’s unencumbered asset pool (“Borrowing Base”). The value of the Borrowing Base communities is based on a capitalization rate of 6.5% applied to the Net Operating Income (“NOI”) generated by the communities in the Borrowing Base. Interest rates on borrowings are based on the Company’s overall leverage ratio and are equal to the Secured Overnight Financing Rate (“SOFR”) plus 1.50% to 2.20%, or BMO’s prime lending rate plus 0.50% to 1.20%.          
New Line of Credit [Member]                      
Line of Credit Facility [Line Items]                      
Line of credit   $ 25.0                  
New Line of Credit [Member] | Prime Rate [Member]                      
Line of Credit Facility [Line Items]                      
Loan Maturity   5 years