Contingencies (Tables)

9 Months Ended

Sep. 30, 2020

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, 2020 and December 31, 2019:

	As of September 30, 2020									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)		September 30, 2020		December 31, 2019
West Melbourne I, LLC - Phase I	50%	$	40,372	50%		$	20,186	Feb-2021	(2)	$	202	$	199
West Melbourne I, LLC - Phase II	50%		14,513	50%			7,257	Feb-2021	(2)		73		78
Port Orange I, LLC	50%		53,513	50%			26,757	Feb-2021	(2)		268		270
Ambassador Infrastructure, LLC	65%		9,360	100%			9,360	Oct-2020	(3)		94		101
Shoppes at Eagle Point, LLC	50%		35,189	35%	(4)		12,740	Oct-2020	(5)		127		127
EastGate Storage, LLC	50%		6,485	50%	(6)		3,250	Dec-2022			33		33
Self Storage at Mid Rivers, LLC	50%		5,853	50%	(7)		2,994	Apr-2023			30		30
Parkdale Self Storage, LLC	50%		6,065	100%	(8)		6,500	Jul-2024			65		65
Hamilton Place Self Storage, LLC	54%		6,247	100%	(9)		7,002	Sep-2024			70		70
Atlanta Outlet JV, LLC	50%		4,632	100%			4,632	Nov-2023			—		—
Louisville Outlet Shoppes, LLC	50%		9,122	100%			9,122	Oct-2021			—		—
Total guaranty liability										$	962	$	973

(1) Excludes any extension options.

(2) These loans have two one-year extension options at the joint venture’s election.

(3) In October 2020, the maturity date was extended to January 2021.

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

(5) In October 2020, the loan was extended to October 2021 with one one-year extension option, at the joint venture's election, for an outside maturity date of October 2022.

(6) The guaranty may be reduced to 25% once certain debt and operational metrics are met.

(7) The guaranty may be reduced to 25% once certain debt and operational metrics are met.

(8) 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.

(9) Hamilton Place Self Storage, LLC, a 54/46 joint venture, closed on a construction loan with a total borrowing capacity of up to $7,002 for the development of a climate controlled self-storage facility adjacent to Hamilton Place in Chattanooga, TN. The Operating Partnership has guaranteed 100% of the construction loan, but it has a back-up guaranty with its joint venture partner for 50% of the construction loan. The guaranty may be reduced to 50% upon opening, and further reduced to 25% once certain debt and operations metrics are met.