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Debt (Tables)
12 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
Summary of Non-Recourse Property Debt The following table summarizes non-recourse property debt as of December 31, 2021 and 2020 (in thousands):

 

 

 

 

 

 

 

 

 

 

 

Outstanding Balance

as of December 31,

 

 

Latest

Maturity Date

 

Interest Rate

Range

 

 

Weighted-Average Interest Rate

 

 

2021

 

 

2020

 

Fixed-rate property debt

November 22, 2032

 

1.00% to 4.20%

 

 

3.32%

 

 

$

429,883

 

 

$

394,510

 

Variable-rate property debt

December 31,2023

 

1.28%

 

 

1.28%

 

 

 

55,000

 

 

 

55,000

 

Total non-recourse property debt

 

 

 

 

 

 

 

 

 

 

$

484,883

 

 

$

449,510

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assumed debt fair value adjustment,

   net of accumulated amortization

 

 

 

 

 

 

 

 

 

 

 

1,536

 

 

 

1,850

 

Debt issuance costs, net of

   accumulated amortization

 

 

 

 

 

 

 

 

 

 

 

(3,282

)

 

 

(3,393

)

Non-recourse property debt, net

 

 

 

 

 

 

 

 

 

 

$

483,137

 

 

$

447,967

 

Scheduled Principal Amortization and Maturity Payments for Non-Recourse Property Debt

As of December 31, 2021, the scheduled principal amortization and maturity payments for the non-recourse property debt were as follows (in thousands):

 

 

Amortization

 

 

Maturities

 

 

Total

 

2022

$

8,832

 

 

$

 

 

$

8,832

 

2023

 

9,143

 

 

 

55,000

 

 

 

64,143

 

2024

 

7,098

 

 

 

81,940

 

 

 

89,038

 

2025

 

7,360

 

 

 

 

 

 

7,360

 

2026

 

6,153

 

 

 

73,983

 

 

 

80,136

 

Thereafter

 

11,191

 

 

 

224,183

 

 

 

235,374

 

   Total

$

49,777

 

 

$

435,106

 

 

$

484,883