INVESTMENT IN UNCONSOLIDATED AND CONSOLIDATED JOINT VENTURES (Tables)

9 Months Ended

Sep. 30, 2022

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Condensed Statements of Operations and Balance Sheet Information of Consolidated and Unconsolidated Joint Ventures

Unaudited condensed statement of operations for the nine months ended September 30, 2022 and condensed balance sheet information of the Company’s unconsolidated joint ventures as of September 30, 2022 and December 31, 2021 are as follows:

	Three Months Ended September 30,
	2022		2021		2022		2021		2022		2021
	Joint Venture								TRC
($ in thousands)	Revenues				Earnings (Loss)				Equity in Earnings (Loss)
Petro Travel Plaza Holdings, LLC	$	49,108	$	39,266	$	3,653	$	2,976	$	2,192	$	1,785
18-19 West, LLC	—		2		(16)		(31)		(7)		(15)
TRCC/Rock Outlet Center, LLC1	1,415		1,464		(944)		(764)		(472)		(383)
TRC-MRC 1, LLC	805		796		60		36		29		19
TRC-MRC 2, LLC	1,008		1,005		342		305		171		152
TRC-MRC 3, LLC	1,065		771		156		(96)		78		(47)
TRC-MRC 4, LLC	—		—		—		(1)		—		(1)
Total	$	53,401	$	43,304	$	3,251	$	2,425	$	1,991	$	1,510
Centennial Founders, LLC	$	55	$	126	$	(157)	$	(80)	Consolidated
(1) Revenues for TRCC/Rock Outlet Center are presented net of non-cash tenant allowance amortization of $0.3 million and $0.3 million for the three months ended September 30, 2022 and September 30, 2021, respectively.

	Nine Months Ended September 30,
	2022		2021		2022		2021		2022		2021
	Joint Venture								TRC
($ in thousands)	Revenues				Earnings (Loss)				Equity in Earnings (Loss)
Petro Travel Plaza Holdings, LLC	$	136,905	$	97,583	$	8,843	$	5,756	$	5,306	$	3,453
18-19 West, LLC	—		256		(63)		150		(31)		75
TRCC/Rock Outlet Center, LLC1	4,355		4,140		(2,322)		(2,183)		(1,161)		(1,092)
TRC-MRC 1, LLC	2,445		2,438		54		133		26		67
TRC-MRC 2, LLC	3,064		3,024		1,024		950		512		475
TRC-MRC 3, LLC	3,098		2,715		440		(323)		220		(161)
TRC-MRC 4, LLC	—		—		(11)		(1)		(5)		(1)
Total	$	149,867	$	110,156	$	7,965	$	4,482	$	4,867	$	2,816
Centennial Founders, LLC	$	379	$	377	$	18	$	9	Consolidated
(1) Revenues for TRCC/Rock Outlet Center are presented net of non-cash tenant allowance amortization of $0.9 million and $0.9 million for the nine months ended September 30, 2022 and September 30, 2021, respectively.

	September 30, 2022								December 31, 2021
	Joint Venture						TRC		Joint Venture						TRC
($ in thousands)	Assets		Debt		Equity (Deficit)		Equity		Assets		Debt		Equity (Deficit)		Equity
Petro Travel Plaza Holdings, LLC	$	85,006	$	(13,509)	$	64,703	$	26,421	$	78,064	$	(14,848)	$	58,859	$	22,915
18-19 West, LLC	—		—		—		—		14,965		—		14,895		6,877
TRCC/Rock Outlet Center, LLC	58,848		(27,982)		30,001		6,937		61,927		(28,783)		32,323		8,098
TRC-MRC 1, LLC	24,469		(22,943)		1,052		—		24,964		(23,400)		1,209		—
TRC-MRC 2, LLC	18,557		(22,776)		(3,971)		—		20,497		(23,255)		(5,657)		—
TRC-MRC 3, LLC	36,856		(34,705)		(2,885)		409		37,579		(35,324)		(914)		859
TRC-MRC 4, LLC	45,219		(35,752)		9,330		4,663		25,671		(16,307)		9,319		4,669
TRC-MRC Multi I, LLC	350		—		350		175		—		—		—		—
Total	$	269,305	$	(157,667)	$	98,580	$	38,605	$	263,667	$	(141,917)	$	110,034	$	43,418
Centennial Founders, LLC	$	102,385	$	—	$	101,979	***		$	101,178	$	—	$	100,261	***
*** Centennial Founders, LLC is consolidated within the Company's financial statements.