Quarterly report pursuant to Section 13 or 15(d)

Debt, Net - Credit Agreement (Details)

v3.24.2.u1
Debt, Net - Credit Agreement (Details)
6 Months Ended
May 03, 2024
USD ($)
fiscal_quarter
Jun. 29, 2023
USD ($)
Nov. 12, 2021
USD ($)
Jun. 30, 2024
USD ($)
Jun. 30, 2023
USD ($)
May 02, 2024
USD ($)
Dec. 31, 2023
USD ($)
Nov. 13, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 01, 2022
USD ($)
Feb. 28, 2022
USD ($)
Feb. 10, 2022
USD ($)
Debt Instrument [Line Items]                        
Debt instrument, term       2 years 4 months 24 days                
Weighted-average interest rate (percent)       5.87%                
Borrowings outstanding under the credit facility       $ 107,000,000     $ 116,000,000          
Repayments of term loans       0 $ 175,000,000              
Designated as Hedging Instrument                        
Debt Instrument [Line Items]                        
Derivative notional amount       60,000,000     60,000,000          
Interest Rate Swap                        
Debt Instrument [Line Items]                        
Derivative notional amount                 $ 175,000,000 $ 175,000,000    
Interest rate collars | Designated as Hedging Instrument                        
Debt Instrument [Line Items]                        
Derivative notional amount       60,000,000     $ 60,000,000 $ 60,000,000.0        
Interest Rate Collar on $25.0 Million | Designated as Hedging Instrument                        
Debt Instrument [Line Items]                        
Derivative notional amount               $ 25,000,000        
Interest Rate Collar on $25.0 Million | Designated as Hedging Instrument | Minimum                        
Debt Instrument [Line Items]                        
Benchmark rate (percent)               4.20%        
Interest Rate Collar on $25.0 Million | Designated as Hedging Instrument | Maximum                        
Debt Instrument [Line Items]                        
Benchmark rate (percent)               5.50%        
Interest Rate Collar on $35.0 Million | Designated as Hedging Instrument                        
Debt Instrument [Line Items]                        
Derivative notional amount               $ 35,000,000        
Interest Rate Collar on $35.0 Million | Designated as Hedging Instrument | Minimum                        
Debt Instrument [Line Items]                        
Benchmark rate (percent)               4.035%        
Interest Rate Collar on $35.0 Million | Designated as Hedging Instrument | Maximum                        
Debt Instrument [Line Items]                        
Benchmark rate (percent)               5.50%        
Senior term loan | Credit facility term loan, net                        
Debt Instrument [Line Items]                        
Debt instrument, term     2 years                  
Borrowing capacity     $ 175,000,000                  
Repayments of term loans   $ 175,000,000                    
Optional term extension period   18 months                    
Mortgages payable | CMBS Loan                        
Debt Instrument [Line Items]                        
Debt instrument, face amount                     $ 355,000,000 $ 355,000,000
Credit facility revolver                        
Debt Instrument [Line Items]                        
Effective interest rate (percent)                 3.92%      
Credit facility revolver | Line of Credit                        
Debt Instrument [Line Items]                        
Debt instrument, term     3 years                  
Borrowing capacity $ 350,000,000   $ 425,000,000     $ 425,000,000            
Debt instrument, face amount                 $ 175,000,000      
Borrowings outstanding under the credit facility       $ 107,000,000                
Line of credit facility, decrease, net 75,000,000                      
Covenant, unencumbered asset value, minimum $ 500,000,000         $ 600,000,000            
Effective interest rate (percent)       8.66%                
Commitment fee (percent) 0.25%                      
Unrestricted cash and cash equivalents $ 25,000,000                      
Covenant, total debt to total asset value, maximum 0.60                      
Covenant, adjusted EBITDA to fixed charges, minimum 1.50                      
Covenant, secured debt to total asset value, maximum 0.40                      
Covenant, unsecured debt to unencumbered asset value, maximum 0.60                      
Covenant, unencumbered real properties to unsecured interest expense, minimum 2.00                      
Covenant, unsecured debt to total unencumbered assets, threshold 0.35                      
Covenant measurement period - number of consecutive quarters | fiscal_quarter 2                      
Period within which to grant administrative agent a first priority lien on all property included in pool 90 days                      
Credit facility revolver | Line of Credit | SOFR                        
Debt Instrument [Line Items]                        
Spread on variable rate (percent) 0.10%                      
Credit facility revolver | Line of Credit | Term SOFR                        
Debt Instrument [Line Items]                        
Spread on variable rate (percent) 3.25%                      
Credit facility revolver | Line of Credit | Base Rate                        
Debt Instrument [Line Items]                        
Spread on variable rate (percent) 2.25%                      
Credit facility revolver | Letter of Credit                        
Debt Instrument [Line Items]                        
Borrowing capacity     $ 25,000,000                  
Bridge Facility | Line of Credit                        
Debt Instrument [Line Items]                        
Debt instrument, term     6 months                  
Borrowing capacity     $ 355,000,000