Indebtedness - Additional Information (Detail) $ in Thousands |
1 Months Ended | 3 Months Ended | 9 Months Ended | |||||
---|---|---|---|---|---|---|---|---|
Aug. 15, 2024
USD ($)
|
Aug. 07, 2024
USD ($)
Property
|
Aug. 31, 2024
USD ($)
|
Sep. 30, 2024
USD ($)
|
Jun. 30, 2024
USD ($)
|
Mar. 31, 2024
USD ($)
|
Sep. 30, 2024
USD ($)
Property
|
Sep. 30, 2023
USD ($)
|
|
Debt Instrument [Line Items] | ||||||||
Make-whole premium paid on senior notes | $ 4,100 | |||||||
Gain on debt retirement | $ 1,037 | $ 0 | ||||||
Swaption [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Proceeds from termination of derivative instrument | 1,300 | |||||||
Term Loan [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt extinguishment costs | 900 | |||||||
Repayment of principal amount outstanding | 200,000 | |||||||
Term Loan [Member] | Interest Rate Swap [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Proceeds from termination of derivative instrument | 6,800 | |||||||
Revolving Credit Facility [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt extinguishment costs | $ 3,900 | |||||||
Senior Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt extinguishment costs | $ 6,700 | |||||||
Gain on debt retirement | $ 1,000 | |||||||
Unsecured debt purchased | $ 88,300 | $ 88,300 | ||||||
Mortgage Facility [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Proceeds from mortgage facility | $ 530,000 | |||||||
Number of properties closed | Property | 23 | |||||||
Mortgage Facility Maturity Extension Option | mature on September 6, 2026, subject to two one-year extensions at the Borrowers’ option (subject to satisfaction of certain conditions) | |||||||
Mortgage facility maturity date | Sep. 06, 2026 | |||||||
Floor interest rate | 3.50% | |||||||
Interest rate plus spread | 2.75% | |||||||
Description of interest rate of default event | the maximum rate allowed by law or (ii) 4% above the interest rate then otherwise applicable. | |||||||
Percentage of interest rate increased | 4.00% | |||||||
Percentage of excess prepayment on initial principal amount | 35.00% | |||||||
Percentage related to spread maintenance premium | 2.75% | |||||||
Percentage of initial loan payment | 115.00% | |||||||
Description of contingent payment of principal or interest | A “Trigger Period” commences (i) upon the occurrence of any event of default under the Mortgage Facility (and ends upon the cure or waiver of the event of default); (ii) when the debt yield falls below 10.5% (and ends when the debt yield exceeds 10.5% for one calendar quarter); or (iii) upon any bankruptcy action with respect to any Borrower or manager of a Property that has not been discharged within 60 days of filing. | |||||||
Description of factors that may affect minimum net worth requirements | Throughout the term of the Mortgage Facility, the Company is required to maintain (i) a net worth of not less than 15% of the then outstanding principal amount of the loan (but in no event less than $100.0 million) and (ii) minimum liquid assets of not less than 5% of the then outstanding principal amount of the loan (but in no event less than $15.0 million). | |||||||
Percentage of minimum net worth outstanding principle amount | 15.00% | |||||||
Minimum net worth outstanding principle amount | $ 100,000 | |||||||
Percentage of minimum liquid assets outstanding principle amount | 5.00% | |||||||
Minimum liquid assets outstanding principle amount | $ 15,000 | |||||||
Mortgage facility | $ 206,900 | $ 206,900 | ||||||
Number of properties | Property | 13 | |||||||
Number of properties released | Property | 10 | |||||||
Debt extinguishment costs | $ 10,100 |