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Contingencies (Tables)
6 Months Ended
Jun. 30, 2024
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 June 30, 2024 and December 31, 2023:

 

 

As of June 30, 2024

 

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)

 

June 30, 2024

 

 

December 31, 2023

 

West Melbourne I, LLC - Phase I

 

50%

 

$

34,447

 

 

50%

 

$

17,224

 

 

Feb-2025

(2)

$

172

 

 

$

177

 

West Melbourne I, LLC - Phase II

 

50%

 

 

10,696

 

 

50%

 

 

5,348

 

 

Feb-2025

(2)

 

54

 

 

 

56

 

Port Orange I, LLC

 

50%

 

 

45,848

 

 

50%

 

 

22,924

 

 

Feb-2025

(2)

 

229

 

 

 

236

 

Ambassador Infrastructure, LLC

 

65%

 

 

4,361

 

 

100%

 

 

4,361

 

 

Mar-2025

 

 

44

 

 

 

57

 

CBL-TRS Med OFC Holding, LLC (3)

 

50%

 

 

2,298

 

 

100%

 

 

3,895

 

 

Jun-2030

 

 

19

 

 

 

19

 

Total guaranty liability

 

 

 

 

 

 

 

 

 

 

 

 

 

$

518

 

 

$

545

 

(1)
Excludes any extension options.
(2)
These loans have a one-year extension option at the joint venture’s election.
(3)
The Operating Partnership has guaranteed the construction debt of CBL DMC I, LLC, a joint venture in which CBL-TRS Med OFC Holding, LLC owns a 50% interest.