INVESTMENT IN UNCONSOLIDATED AND CONSOLIDATED JOINT VENTURES (Tables)

9 Months Ended

Sep. 30, 2023

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, 2023 and condensed balance sheet information of the Company’s unconsolidated joint ventures as of September 30, 2023 and December 31, 2022 are as follows:

	Three Months Ended September 30,
	2023		2022		2023		2022		2023		2022
	Joint Venture								TRC
($ in thousands)	Revenues				Earnings (Loss)				Equity in Earnings (Loss)
Petro Travel Plaza Holdings, LLC	$	44,976	$	49,108	$	1,736	$	3,653	$	1,041	$	2,192
18-19 West, LLC	—		—		—		(16)		—		(7)
TRCC/Rock Outlet Center, LLC1	1,740		1,415		(753)		(944)		(376)		(472)
TRC-MRC 1, LLC	1,110		805		373		60		187		29
TRC-MRC 2, LLC	1,647		1,008		683		342		341		171
TRC-MRC 3, LLC	1,138		1,065		68		156		33		78
TRC-MRC 4, LLC	1,746		—		(120)		—		(59)		—
TRC-MRC 5, LLC	—		—		(12)		—		(6)		—
Total	$	52,357	$	53,401	$	1,975	$	3,251	$	1,161	$	1,991
Centennial Founders, LLC	$	15	$	55	$	(84)	$	(157)	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, 2023 and September 30, 2022, respectively.

	Nine Months Ended September 30,
	2023		2022		2023		2022		2023		2022
	Joint Venture								TRC
($ in thousands)	Revenues				Earnings (Loss)				Equity in Earnings (Loss)
Petro Travel Plaza Holdings, LLC	$	120,002	$	136,905	$	6,880	$	8,843	$	4,128	$	5,306
18-19 West, LLC	—		—		—		(63)		—		(31)
TRCC/Rock Outlet Center, LLC1	4,734		4,355		(2,512)		(2,322)		(1,256)		(1,161)
TRC-MRC 1, LLC	3,229		2,445		826		54		413		26
TRC-MRC 2, LLC	4,468		3,064		2,084		1,024		1,042		512
TRC-MRC 3, LLC	3,270		3,098		471		440		235		220
TRC-MRC 4, LLC	5,281		—		149		(11)		75		(5)
TRC-MRC 5, LLC	—		—		(42)		—		(21)		—
Total	$	140,984	$	149,867	$	7,856	$	7,965	$	4,616	$	4,867
Centennial Founders, LLC	$	190	$	379	$	(46)	$	18	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, 2023 and September 30, 2022, respectively.

	September 30, 2023								December 31, 2022
	Joint Venture						TRC		Joint Venture						TRC
($ in thousands)	Assets		Debt		Equity (Deficit)		Equity		Assets		Debt		Equity (Deficit)		Equity
Petro Travel Plaza Holdings, LLC	$	71,890	$	(12,746)	$	49,349	$	17,209	$	84,225	$	(13,318)	$	63,069	$	25,441
TRCC/Rock Outlet Center, LLC	57,447		(20,924)		35,572		9,723		59,196		(27,707)		30,684		7,279
TRC-MRC 1, LLC	25,152		(22,308)		1,338		—		24,085		(22,787)		1,042		—
TRC-MRC 2, LLC	19,095		(22,110)		(1,944)		—		18,398		(22,612)		(3,939)		—
TRC-MRC 3, LLC	36,040		(33,847)		3,555		134		36,608		(34,494)		2,690		386
TRC-MRC 4, LLC	50,923		(61,993)		(8,867)		—		50,497		(40,130)		8,974		4,485
TRC-MRC 5, LLC	34,843		(25,049)		8,558		4,279		8,602		—		—		4,300
Total	$	295,390	$	(198,977)	$	87,561	$	31,345	$	281,611	$	(161,048)	$	102,520	$	41,891
Centennial Founders, LLC	$	104,309	$	—	$	103,963	***		$	102,984	$	—	$	102,689	***
*** Centennial Founders, LLC is consolidated within the Company's financial statements.