Annual report pursuant to Section 13 and 15(d)

REVOLVING CREDIT FACILITY AND TERM LOANS - Narrative (Details)

v3.22.4
REVOLVING CREDIT FACILITY AND TERM LOANS - Narrative (Details)
$ in Thousands
 1 Months Ended
Jul. 27, 2021
USD ($)
May 06, 2021
USD ($)
property
lender
Dec. 31, 2020
Jun. 30, 2021
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Line of Credit Facility [Line Items]            
Loan balance         $ 1,900,000 $ 2,400,000
Outstanding borrowings under the facility         0 148,000
2021 Credit Agreement            
Line of Credit Facility [Line Items]            
Loan period   3 years        
2021 Credit Agreement, Letter Of Credit            
Line of Credit Facility [Line Items]            
Borrowing capacity under the credit facility   $ 50,000        
2021 Credit Facility, Usage Less Or Equal To Fifty Percent            
Line of Credit Facility [Line Items]            
Facility fee basis points   0.35%        
2021 Credit Facility, Usage Greater Than Fifty Percent            
Line of Credit Facility [Line Items]            
Facility fee basis points   0.25%        
2021 Term Loan            
Line of Credit Facility [Line Items]            
Loan period   18 months        
2021 Credit Facility | Until May 6, 2022            
Line of Credit Facility [Line Items]            
Debt service coverage ratio   110.00%        
2021 Credit Facility | May 7, 2022 through May 6, 2023            
Line of Credit Facility [Line Items]            
Debt service coverage ratio   120.00%        
2021 Credit Facility | After May 6, 2023            
Line of Credit Facility [Line Items]            
Debt service coverage ratio   140.00%        
2021 Credit Facility            
Line of Credit Facility [Line Items]            
Number of lenders | lender   7        
Secured debt   $ 250,000        
Variable interest rate   0.12%        
Maximum collateral pool leverage ratio   40.00%        
Tangible net worth ratio     80.00%      
Percentage of net cash proceeds of equity issuances   80.00%        
2021 Credit Facility | Minimum            
Line of Credit Facility [Line Items]            
Variable interest rate   1.25%        
Number of collateral pool properties | property   2        
2021 Credit Facility | Maximum            
Line of Credit Facility [Line Items]            
Variable interest rate   2.75%        
Total leverage ratio   65.00%        
2021 Credit Facility | 2021 Credit Agreement | Harborside 2/3 And Harborside 5            
Line of Credit Facility [Line Items]            
Appraisal value   $ 800,000        
2021 Credit Facility | 2021 Credit Facility | Overnight Bank Funding Rate            
Line of Credit Facility [Line Items]            
Variable interest rate   0.50%        
2021 Credit Facility | 2021 Credit Facility | Adjusted LIBO Rate            
Line of Credit Facility [Line Items]            
Variable interest rate   1.00%        
2021 Credit Facility | 2021 Credit Facility | Minimum            
Line of Credit Facility [Line Items]            
Appraisal value   $ 800,000        
2021 Term Loan            
Line of Credit Facility [Line Items]            
Secured debt   150,000        
Borrowing capacity under the credit facility   150,000        
Loan balance   150,000        
Debt paid       $ 123,000    
2021 Term Loan | Harborside 2/3 And Harborside 5            
Line of Credit Facility [Line Items]            
Appraisal value   800,000        
2021 Credit Agreement            
Line of Credit Facility [Line Items]            
Borrowing capacity under the credit facility   250,000        
Outstanding borrowings under the facility   $ 145,000        
Debt paid $ 27,000          
2021 Credit Agreement | Overnight Bank Funding Rate            
Line of Credit Facility [Line Items]            
Variable interest rate   0.00%        
2021 Credit Agreement | Adjusted LIBO Rate            
Line of Credit Facility [Line Items]            
Variable interest rate   1.00%        
Unsecured Term Loan            
Line of Credit Facility [Line Items]            
Loan balance         $ 0 0
Unsecured Term Loan | Unsecured Revolving Credit Facility            
Line of Credit Facility [Line Items]            
Loan balance           $ 148,000