Contingencies (Tables)

9 Months Ended

Sep. 30, 2019

Commitments and Contingencies Disclosure [Abstract]

Schedule of Guarantees

The following table represents the Operating Partnership's guarantees of unconsolidated affiliates' debt as reflected in the accompanying condensed consolidated balance sheets as of September 30, 2019 and December 31, 2018:

	As of September 30, 2019								Obligation Recorded to Reflect Guaranty
Unconsolidated Affiliate	Company's Ownership Interest	Outstanding Balance		Percentage Guaranteed by the Operating Partnership		Maximum Guaranteed Amount		Debt Maturity Date (1)	9/30/2019		12/31/2018
West Melbourne I, LLC - Phase I (2)	50%	$	40,002	50	%	$	20,001	Feb-2021	$	200	$	203

	As of September 30, 2019								Obligation Recorded to Reflect Guaranty
Unconsolidated Affiliate	Company's Ownership Interest	Outstanding Balance	Percentage Guaranteed by the Operating Partnership			Maximum Guaranteed Amount	Debt Maturity Date (1)		9/30/2019		12/31/2018
West Melbourne I, LLC - Phase II (2)	50%	15,737	50	%		7,869	Feb-2021		79		80
Port Orange I, LLC	50%	54,350	50	%		27,175	Feb-2021		272		280
Ambassador Infrastructure, LLC	65%	10,050	100	%		10,050	Aug-2020		101		106
Shoppes at Eagle Point, LLC	50%	35,189	35	%	(3)	12,740	Oct-2020	(4)	127		364
EastGate Storage, LLC	50%	6,145	50	%	(5)	3,250	Dec-2022		33		65
Self-Storage at Mid Rivers, LLC	50%	5,538	50	%	(6)	2,994	Apr-2023		30		60
Parkdale Self Storage, LLC	50%	189	100	%	(7)	6,500	Jul-2024		65		—
Hamilton Place Self Storage, LLC	54%	—	100	%	(8)	7,002	Sep-2024		70		—
			Total guaranty liability						$	977	$	1,158

(1) Excludes any extension options.

(2) The loan is secured by Hammock Landing - Phase I and Hammock Landing - Phase II, respectively.

(3) The guaranty is for a fixed amount of $12,740 throughout the term of the loan, including any extensions.

(4) The loan has one two-year extension option, at the joint venture's election, for an outside maturity date of October 2022.

(5) The guaranty was reduced to 50% once construction was completed during the second quarter of 2019. The guaranty may be further reduced to 25% once certain debt and operational metrics are met.

(6) The Company received a 1% fee for the guaranty when the loan was issued in April 2018. The guaranty was reduced to 50% once construction was completed during the second quarter of 2019. The guaranty may be further reduced to 25% once certain debt and operational metrics are met.

(7)

Parkdale Self Storage, LLC, a 50/50 joint venture, closed on a construction loan with a total borrowing capacity of up to $6,500 for the development of a climate controlled self-storage facility adjacent to Parkdale Mall in Beaumont, TX. The Operating Partnership has a joint and several guaranty with its 50/50 partner. Therefore, the maximum guarantee is 100% of the loan.