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Note 5 - Debt - (Details Textual)
1 Months Ended 3 Months Ended 6 Months Ended 12 Months Ended
Mar. 18, 2021
USD ($)
Jul. 02, 2020
USD ($)
Jun. 16, 2020
USD ($)
Capital
Apr. 20, 2020
USD ($)
Dec. 27, 2019
USD ($)
Subsidiary
Derivative
Mar. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Jun. 30, 2020
USD ($)
Jun. 30, 2020
USD ($)
Jun. 30, 2019
USD ($)
Jun. 30, 2020
USD ($)
Jun. 30, 2019
USD ($)
Dec. 31, 2019
USD ($)
Apr. 30, 2020
USD ($)
Debt Instrument [Line Items]                            
Preferred investor approval rights, Minimum amount of capital expenditure to be incurred         $ 250,000                  
Preferred investor, additional capital contribution, treated as debt               $ 2,900,000 $ 2,900,000   $ 2,900,000      
Preferred units, cumulative annual return               13.00%            
PPP loan, interest rate       1.00%                    
Repayment of debt                     2,909,000 $ 146,000    
Deferred financing costs, gross               $ 1,300,000 1,300,000   1,300,000   $ 1,300,000  
Deferred financing costs, net               1,100,000 1,100,000   1,100,000   1,300,000  
Debt discounts, gross               1,400,000 1,400,000   1,400,000   1,300,000  
Debt instrument net of discount               $ 1,100,000 1,100,000   1,100,000   1,300,000  
Expenses related to fair value adjustments on derivatives                 $ 100,000 $ 0 $ 700,000 0    
COVID-19 [Member]                            
Debt Instrument [Line Items]                            
Loan modification, deferred principal and interest payments description                     The Company entered into loan modifications on various debt instruments which deferred principal and interest payments or required interest-only payments for a period ranging from three to six months.      
Gains (losses) on modification of loan                     $ 0      
Repayment of debt                     $ 250,000      
2020 Real Estate Acquisitions [Member] | Lamar Station Plaza East [Member] | Loan Agreement [Member]                            
Debt Instrument [Line Items]                            
Debt instrument payment terms                     The loan was in default of the debt service coverage ratio (as defined in the loan agreement) upon the Company’s assumption of the loan agreement.      
Subsequent Event [Member] | 2020 Real Estate Acquisitions [Member] | Lamar Station Plaza East [Member]                            
Debt Instrument [Line Items]                            
Assumption of debt   $ 2,500,000                        
Subsequent Event [Member] | 2020 Real Estate Acquisitions [Member] | Lamar Station Plaza East [Member] | Loan Agreement [Member]                            
Debt Instrument [Line Items]                            
Maximum principal amount   $ 4,100,000                        
MVB Revolver [Member]                            
Debt Instrument [Line Items]                            
Maturity Date [1]                     Dec. 27, 2021      
Interest Rate [2]               6.75% 6.75%   6.75%      
MVB Revolver [Member] | COVID-19 [Member]                            
Debt Instrument [Line Items]                            
Long-term debt outstanding               $ 2,000,000 $ 2,000,000   $ 2,000,000      
MVB Term Loan [Member] | COVID-19 [Member]                            
Debt Instrument [Line Items]                            
Maturity Date                     Dec. 27, 2022      
Debt instrument payment terms                     The amendment also eliminates the revolving nature of the facility, requires monthly principal payments as calculated over a 10-year amortization schedule and requires the repayment a $250,000 on each of the following dates (a) the earlier of March 31, 2021 or the closing of the Company’s pending mergers of the Highlandtown and Spotswood properties, (b) the earlier of September 30, 2021 or the closing of the Company’s pending merger of the Greenwood property, (c) March 31, 2022, and (d) September 30, 2022. The payment owed by March 31, 2021 has been paid      
Mortgages [Member]                            
Debt Instrument [Line Items]                            
Outstanding mortgage indebtedness                     $ 33,400,000   32,100,000  
Paycheck Protection Program Loan [Member]                            
Debt Instrument [Line Items]                            
Unsecured loan       $ 800,000                    
Paycheck Protection Program Loan [Member] | COVID-19 [Member]                            
Debt Instrument [Line Items]                            
Unsecured loan                           $ 800,000
Paycheck Protection Program Loan [Member] | Subsequent Event [Member] | COVID-19 [Member]                            
Debt Instrument [Line Items]                            
Unsecured loan           $ 800,000                
Second PPP Loan [Member] | Subsequent Event [Member]                            
Debt Instrument [Line Items]                            
Maturity Date Mar. 18, 2026                          
Unsecured loan $ 800,000                          
PPP loan, interest rate 1.00%                          
Broad Street Big First O P L L C                            
Debt Instrument [Line Items]                            
Number of additional capital contribution from preferred investor | Capital     2                      
Preferred investor, additional capital contribution, treated as debt     $ 2,900,000                      
LIBOR [Member] | MVB Revolver [Member]                            
Debt Instrument [Line Items]                            
Debt instrument variable rate                     0.16%      
Prime Rate [Member] | MVB Revolver [Member]                            
Debt Instrument [Line Items]                            
Debt instrument variable rate                     1.50%      
Interest Rate Swap [Member]                            
Debt Instrument [Line Items]                            
Fair value of interest rate swap liability               800,000 800,000   $ 800,000   100,000  
Interest Rate Swap [Member] | Accounts Payable and Accrued Expenses [Member]                            
Debt Instrument [Line Items]                            
Fair value of interest rate swap liability               800,000 800,000   800,000   100,000  
Maximum [Member]                            
Debt Instrument [Line Items]                            
Deferred financing costs, amortization expense                 200,000 $ 0 400,000 $ 0    
Maximum [Member] | Interest Rate Cap [Member]                            
Debt Instrument [Line Items]                            
Fair value of interest rate cap assets               100,000 100,000   100,000   100,000  
Maximum [Member] | Interest Rate Cap [Member] | Other Assets, Net [Member]                            
Debt Instrument [Line Items]                            
Fair value of interest rate cap assets               100,000 100,000   100,000   100,000  
Basis Term Loan [Member]                            
Debt Instrument [Line Items]                            
Number of subsidiaries as borrowers entered in loan agreement | Subsidiary         6                  
Long-term debt outstanding               $ 63,800,000 $ 63,800,000   $ 63,800,000      
Maturity Date         Jan. 01, 2023           Jan. 01, 2023      
Maturity date description                     The Basis Term Loan matures on January 1, 2023, subject to two one-year extension options, subject to certain conditions.      
Interest Rate         6.125%     6.125% [2] 6.125% [2]   6.125% [2]      
Preferred investor, additional capital contribution, treated as debt               $ 2,900,000 $ 2,900,000   $ 2,900,000      
Debt instrument net of discount               $ 932,000 $ 932,000   $ 932,000   1,118,000  
Basis Term Loan [Member] | Broad Street Big First O P L L C                            
Debt Instrument [Line Items]                            
Preferred investor, additional capital contribution, treated as debt     2,400,000                      
Basis Term Loan [Member] | LIBOR [Member]                            
Debt Instrument [Line Items]                            
Debt instrument variable rate         3.85%           3.85%      
Basis Term Loan [Member] | Interest Rate Cap [Member]                            
Debt Instrument [Line Items]                            
Long-term debt amount         $ 66,900,000                  
Debt instrument variable rate         6.125%                  
Basis Term Loan [Member] | Interest Rate Cap [Member] | LIBOR [Member]                            
Debt Instrument [Line Items]                            
Debt instrument variable rate         3.85%           3.50%      
Derivative variable rate         3.50%                  
Debt instrument, effective interest rate         3.50%                  
Basis Term Loan [Member] | Maximum [Member]                            
Debt Instrument [Line Items]                            
Long-term debt amount         $ 66,900,000                  
Basis Preferred Interest [Member]                            
Debt Instrument [Line Items]                            
Maturity Date [3],[4]                     Jan. 01, 2023      
Interest Rate [2],[4],[5]               14.00% 14.00%   14.00%      
Debt instrument net of discount               $ 187,000 $ 187,000   $ 187,000   224,000  
Basis Preferred Interest [Member] | Broad Street Big First O P L L C                            
Debt Instrument [Line Items]                            
Preferred investor investment commitment amount         $ 10,700,000                  
Preferred investor, capital contribution                     $ 6,900,000      
Annual return percentage on initial capital contribution         14.00%                  
Interest percentage on excess of commitment amount         20.00%                  
Description on extended redemption date                     December 31, 2023 and December 31, 2024      
Payment fee percentage, first extension option         0.25%                  
Payment fee percentage, second extension option         0.50%                  
Preferred Investor payments, description                     Additionally, at the Redemption Date, the Preferred Investor is entitled to an amount equal to (a) the product of (i) the aggregate amount of capital contributions made and (ii) 0.4, less (b) the aggregate amount of Class A return payments made to the Preferred Investor (the “Minimum Multiple Amount”).      
Basis Preferred Interest [Member] | Broad Street Big First O P L L C | Class A Units [Member]                            
Debt Instrument [Line Items]                            
Interest percentage in exchange of capital contribution                     1.00%      
Basis Preferred Interest [Member] | Maximum [Member]                            
Debt Instrument [Line Items]                            
Preferred investor investment commitment amount         $ 10,700,000                  
Basis Preferred Interest Minimum Multiple Amount [Member]                            
Debt Instrument [Line Items]                            
Long-term debt outstanding               2,300,000 2,300,000   $ 2,300,000   2,800,000  
Basis Preferred Interest Minimum Multiple Amount [Member] | Broad Street Big First O P L L C                            
Debt Instrument [Line Items]                            
Long-term debt outstanding               $ 2,300,000 $ 2,300,000   2,300,000   $ 2,800,000  
MVB Loan Agreement [Member]                            
Debt Instrument [Line Items]                            
Long-term debt outstanding         6,500,000                  
Loan agreement deposit requirement                     $ 3,000,000      
Loan agreement deposit requirement default interest charges percentage                     1.00%      
MVB Loan Agreement [Member] | MVB Revolver [Member]                            
Debt Instrument [Line Items]                            
Long-term debt outstanding         $ 2,000,000                  
Maturity Date         Dec. 27, 2020   Dec. 27, 2021       Dec. 27, 2022      
Interest Rate               6.75% 6.75%   6.75%      
Line of credit facility, periodic payment required             $ 250,000              
Line of credit facility, payments term             10 years              
MVB Loan Agreement [Member] | MVB Revolver [Member] | Subsequent Event [Member]                            
Debt Instrument [Line Items]                            
Maturity Date           Dec. 27, 2022                
MVB Loan Agreement [Member] | MVB Term Loan [Member]                            
Debt Instrument [Line Items]                            
Long-term debt outstanding         $ 4,500,000                  
Maturity Date         Dec. 27, 2022                  
Interest Rate         6.75%                  
MVB Loan Agreement [Member] | MVB Term Loan [Member] | MVB Revolver [Member]                            
Debt Instrument [Line Items]                            
Debt instrument additional borrowing available               $ 0 $ 0   $ 0      
MVB Loan Agreement [Member] | Prime Rate [Member] | MVB Revolver [Member]                            
Debt Instrument [Line Items]                            
Debt instrument variable rate         1.50%                  
MVB Loan Agreement [Member] | Maximum [Member]                            
Debt Instrument [Line Items]                            
Debt service coverage ratio               1.30% 1.30%   1.30%      
MVB Loan Agreement [Member] | Maximum [Member] | MVB Revolver [Member]                            
Debt Instrument [Line Items]                            
Debt service coverage ratio             1.00%              
MVB Loan Agreement [Member] | Minimum [Member]                            
Debt Instrument [Line Items]                            
Debt service coverage ratio               1.00% 1.00%   1.00%      
Consolidated funded debt ratio                     8.00%      
Funds available under other lines of credit                     $ 5,000,000      
MVB Loan Agreement [Member] | Minimum [Member] | MVB Revolver [Member]                            
Debt Instrument [Line Items]                            
Debt service coverage ratio             1.00%              
Funds available under other lines of credit             $ 3,000,000              
Hollinswood Mortgage [Member]                            
Debt Instrument [Line Items]                            
Maturity date description                     The deferred amounts for the Hollinswood mortgage loan are due in six equal monthly installments beginning in November 2020.      
Hollinswood Mortgage [Member] | COVID-19 [Member]                            
Debt Instrument [Line Items]                            
Maturity date description                     The deferred amount for the Hollinswood mortgage is due in six equal monthly installments beginning November 2020      
Hollinswood Mortgage [Member] | Maximum [Member]                            
Debt Instrument [Line Items]                            
Debt service coverage ratio               1.40% 1.40%   1.40%      
Hollinswood Mortgage [Member] | Minimum [Member]                            
Debt Instrument [Line Items]                            
Debt service coverage ratio               1.00% 1.00%   1.00%      
Vista Mortgage | Maximum [Member]                            
Debt Instrument [Line Items]                            
Debt service coverage ratio               1.35% 1.35%   1.35%      
Vista Mortgage | Minimum [Member]                            
Debt Instrument [Line Items]                            
Debt service coverage ratio               1.00% 1.00%   1.00%      
Brookhill Mortgage | Maximum [Member]                            
Debt Instrument [Line Items]                            
Debt service coverage ratio               1.35% 1.35%   1.35%      
Brookhill Mortgage | Minimum [Member]                            
Debt Instrument [Line Items]                            
Debt service coverage ratio               1.00% 1.00%   1.00%      
Other Capital Contribution [Member] | Broad Street Big First O P L L C                            
Debt Instrument [Line Items]                            
Preferred investor, additional capital contribution, treated as debt     $ 500,000                      
Preferred units, cumulative annual return     13.00%                      
Preferred units remaining contributed capital               $ 1,200,000 $ 1,200,000   $ 1,200,000      
Vista Shops at Golden Mile Loan [Member]                            
Debt Instrument [Line Items]                            
Maturity Date [6]                     Jan. 25, 2021      
Interest Rate [2]               2.66% 2.66%   2.66%      
Vista Shops at Golden Mile Loan [Member] | Broad Street Big First O P L L C | Subsequent Event [Member]                            
Debt Instrument [Line Items]                            
Payment of basis preferred interest           $ 800,000                
Vista Shops at Golden Mile Loan [Member] | LIBOR [Member]                            
Debt Instrument [Line Items]                            
Debt instrument variable rate                     2.50%   2.50%  
2021 Debt Agreements and Modifications [Member] | Vista Shops at Golden Mile Loan [Member] | Subsequent Event [Member]                            
Debt Instrument [Line Items]                            
Long-term debt amount           $ 8,900,000                
Maturity Date           Jun. 30, 2023                
Interest Rate           3.83%                
Maximum principal amount           $ 11,700,000                
Proceeds from refinance to pay down the outstanding balance of basis preferred interest           1,900,000                
Escrow Deposit           900,000                
2021 Debt Agreements and Modifications [Member] | Forbearance Agreements and Debt Amendments [Member] | Vista Shops at Golden Mile Loan [Member] | Subsequent Event [Member]                            
Debt Instrument [Line Items]                            
Repayment of debt           800,000                
2021 Debt Agreements and Modifications [Member] | Accrued Interest [Member] | Vista Shops at Golden Mile Loan [Member] | Subsequent Event [Member]                            
Debt Instrument [Line Items]                            
Repayment of debt           $ 200,000                
Hollinswood Loan [Member]                            
Debt Instrument [Line Items]                            
Maturity Date                     Dec. 01, 2024      
Interest Rate [2]               4.06% 4.06%   4.06%      
Hollinswood Loan [Member] | LIBOR [Member]                            
Debt Instrument [Line Items]                            
Debt instrument variable rate                     2.25%   2.25%  
Hollinswood Loan [Member] | Interest Rate Cap [Member]                            
Debt Instrument [Line Items]                            
Debt instrument variable rate         4.06%                  
Hollinswood Loan [Member] | Interest Rate Swap [Member]                            
Debt Instrument [Line Items]                            
Long-term debt outstanding         $ 10,200,000                  
Interest Rate               4.06% 4.06%   4.06%      
Debt instrument additional borrowing available         $ 3,000,000                  
Number of derivatives held | Derivative         2                  
[1] In March 2021, the Company entered into a one-year extension on the MVB Revolver as described below under the heading “—Forbearance Agreements and Debt Amendments”.
[2] For floating rate loans tied to LIBOR, based on the one-month LIBOR rate of 0.16%, as of June 30, 2020.
[3] If the Basis Term Loan is paid in full earlier than its maturity date, the Basis Preferred Interest in the Sub-OP will mature at that time.
[4] The outstanding balance includes approximately $2.3 million and $2.8 million of indebtedness as of June 30, 2020 and December 31, 2019, respectively, related to the Multiple Minimum Amount owed to the Preferred Investor as described below under the heading “—Basis Preferred Interest”.
[5] In June 2020, the Preferred Investor made additional capital contributions of approximately $2.9 million as described below under the heading “—Forbearance Agreements and Debt Amendments”. The Preferred Investor is entitled to a cumulative annual return of 13.0% on the additional contributions.
[6] The Company completed the refinance of this loan as described below under the heading “—2021 Debt Agreements and Modifications”.