Mortgage Notes Payable and Credit Facility - Interest Rate Caps and Swaps (Details) - USD ($) $ in Thousands |
12 Months Ended | |
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Dec. 31, 2022 |
Dec. 31, 2021 |
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Debt Instrument [Line Items] | ||
Aggregate Cost | $ 620 | |
Aggregate Notional Amount | 225,000 | $ 233,632 |
Aggregate Fair Value | 4,629 | 324 |
Interest rate swaps | Counterparty | ||
Debt Instrument [Line Items] | ||
Aggregate Notional Amount | 362,832 | 73,212 |
Aggregate Fair Value Asset | 8,264 | 841 |
Aggregate Fair Value Liability | $ (897) | $ (1,217) |
Minimum | LIBOR | ||
Debt Instrument [Line Items] | ||
Interest rate | 1.50% | |
Maximum | LIBOR | ||
Debt Instrument [Line Items] | ||
Interest rate | 2.50% |
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition Cap rate on an interest rate derivative such as an interest rate cap or collar. If market rates exceed the cap rate, a payment or receipt is triggered on the contract. No definition available.
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- Definition The premium (cost) of a hedge, expensed during the period. No definition available.
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- Definition Nominal or face amount used to calculate payment on derivative. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Fair value as of the balance sheet date of all interest rate derivative assets designated as cash flow hedging instruments. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Fair value as of the balance sheet date of all interest rate derivative liabilities designated as cash flow hedging instruments. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Fair value of all derivatives designated as interest rate fair value hedging instruments. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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