Mortgage Notes Payable - Additional Information (Detail)
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3 Months Ended |
12 Months Ended |
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Mar. 21, 2025 |
Mar. 15, 2024
USD ($)
Item
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Jul. 31, 2023
USD ($)
Item
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Aug. 05, 2022
USD ($)
Property
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Mar. 24, 2020
USD ($)
Item
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Mar. 21, 2018
USD ($)
Item
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Dec. 20, 2017
USD ($)
Item
Property
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Mar. 13, 2015
USD ($)
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Mar. 31, 2025
USD ($)
Property
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Dec. 31, 2014
USD ($)
ft²
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Dec. 31, 2024
USD ($)
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Oct. 15, 2024
USD ($)
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| Debt Instrument [Line Items] |
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| Mortgage notes payable |
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$ 486,014,000
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$ 486,822,000
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| Number of wholly-owned subsidiaries of the UPREIT | Item |
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3
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3
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2
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4
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4
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| Peoples United Bank [Member] |
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| Debt Instrument [Line Items] |
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| Mortgage notes payable |
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$ 14,400,000
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| Allstate Life Insurance Company, Loan [Member] |
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| Debt Instrument [Line Items] |
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| Mortgage notes payable |
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$ 33,723,000
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33,945,000
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| Maturity |
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May 01, 2025
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| Interest Rate |
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4.00%
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| 3.82 % United States Life Insurance Company, Loan [Member] |
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| Debt Instrument [Line Items] |
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| Mortgage notes payable |
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$ 39,000,000.0
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$ 39,000,000
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39,000,000
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| Permanent financing period |
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10 years
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| Debt instrument, payment terms |
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During the period from February 1, 2018 to December 1, 2027, payments of interest only on the principal balance of the U.S. Life Note (as defined below) will be payable in arrears, with the entire principal balance due and payable on January 1, 2028, the loan maturity date.
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| Number of collateralized properties | Property |
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4
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| Maturity |
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Jan. 01, 2028
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Jan. 01, 2028
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| Interest Rate |
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3.82%
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3.82%
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| Application fee to lender |
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$ 50,000
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| Event of default, description |
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In the event of default, the initial rate of interest on the U.S. Life Note will increase to the greatest of (i) 18% per annum, (ii) a per annum rate equal to 4% over the prime established rate, or (iii) a per annum rate equal to 5% over the original interest rate, all subject to the applicable state or federal laws.
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| 3.82 % United States Life Insurance Company, Loan [Member] | Minimum [Member] |
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| Debt Instrument [Line Items] |
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| Loan Prepayment Premium Percentage,upon providing advance notice of prepayment |
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1.00%
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| 3.82 % United States Life Insurance Company, Loan [Member] | Minimum [Member] | Event of Default [Member] |
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| Debt Instrument [Line Items] |
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| Increase in debt instrument interest rate upon default |
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18.00%
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| 3.82 % United States Life Insurance Company, Loan [Member] | Prime Rate [Member] | Event of Default [Member] |
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| Debt Instrument [Line Items] |
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| Debt instrument Interest rate upon default |
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4.00%
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| 3.82 % United States Life Insurance Company, Loan [Member] | Original Interest Rate [Member] | Event of Default [Member] |
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| Debt Instrument [Line Items] |
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| Debt instrument interest rate over original interest rate upon default |
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5.00%
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| 4.25 % United States Life Insurance Company, Loan [Member] |
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| Debt Instrument [Line Items] |
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| Mortgage notes payable |
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$ 33,000,000.0
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$ 31,913,000
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32,059,000
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| Permanent financing interest rate |
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4.25%
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| Permanent financing period |
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10 years
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| Debt instrument, payment terms |
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the principal balance for the first five years of the term and principal and interest payments (amortized over a 30-year period) during the second five years of the term. The entire principal balance is due and payable on April 1, 2028, the loan maturity date.
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| Maturity |
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Apr. 01, 2028
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| Interest Rate |
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4.25%
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| 3.45% Transamerica Life Insurance Company, Loan [Member] |
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| Debt Instrument [Line Items] |
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| Mortgage notes payable |
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$ 8,400,000
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$ 7,750,000
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7,809,000
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| Permanent financing interest rate |
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3.45%
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| Permanent financing period |
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10 years
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| Debt instrument, payment terms |
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principal balance of the note until April 1, 2022 and (ii) principal and interest payments (amortized over a 25-year period commencing at the end of the interest-only period) from May 1, 2022 through March 1, 2030. The entire principal balance of each note is due and payable on April 1, 2030, the loan maturity date
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| Maturity |
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Apr. 01, 2030
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| Interest Rate |
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3.45%
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| 3.45% Transamerica Life Insurance Company, Loan [Member] | Event of Default [Member] |
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| Debt Instrument [Line Items] |
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| Event of default, description |
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If a default exists, the outstanding principal balance of the notes shall, at the option of the lender, bear interest at a rate equal to the lesser of (i) 10% per annum over the note rate and (ii) the highest rate of interest permitted to be paid or collected by applicable law with respect to the loan.
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| 3.45% Transamerica Life Insurance Company, Loan [Member] | Minimum [Member] |
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| Debt Instrument [Line Items] |
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| Loan Prepayment Premium Percentage,upon providing advance notice of prepayment |
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1.00%
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| 3.45% Transamerica Life Insurance Company, Loan [Member] | Note Rate [Member] | Event of Default [Member] |
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| Debt Instrument [Line Items] |
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| Debt instrument Interest rate upon default |
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10.00%
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| Transamerica Life Insurance Company 2023, Loan [Member] |
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| Debt Instrument [Line Items] |
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| Mortgage notes payable |
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$ 25,000,000
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$ 25,000,000
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25,000,000
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| Permanent financing interest rate |
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5.40%
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| Permanent financing period |
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10 years
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| Debt instrument, payment terms |
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principal balance of the note until August 1, 2026 and (ii) principal and interest payments (amortized over a 30-year period commencing at the end of the interest-only period) from September 1, 2026 through July 1, 2033. The entire principal balance of each note is due and payable on August 1, 2033, the loan maturity date
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| Maturity |
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Aug. 01, 2033
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| Interest Rate |
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5.40%
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| Transamerica Life Insurance Company 2023, Loan [Member] | Event of Default [Member] |
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| Debt Instrument [Line Items] |
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| Event of default, description |
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If a default exists, the outstanding principal balance of the notes shall, at the option of the lender, bear interest at a rate equal to the lesser of (i) 10% per annum over the note rate and (ii) the highest rate of interest permitted to be paid or collected by applicable law with respect to the loan
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| Transamerica Life Insurance Company 2023, Loan [Member] | Minimum [Member] |
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| Debt Instrument [Line Items] |
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| Loan Prepayment Premium Percentage,upon providing advance notice of prepayment |
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1.00%
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| Transamerica Life Insurance Company 2023, Loan [Member] | Note Rate [Member] | Event of Default [Member] |
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| Debt Instrument [Line Items] |
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| Debt instrument Interest rate upon default |
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10.00%
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| American International Group 2022, Loan [Member] |
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| Debt Instrument [Line Items] |
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| Mortgage notes payable |
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$ 225,000,000
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$ 225,000,000
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| Maturity |
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Sep. 01, 2032
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| Interest Rate |
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4.63%
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| American International Group 2022, Loan [Member] | A I G Loans |
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| Debt Instrument [Line Items] |
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| Maturity |
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Sep. 01, 2032
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| Interest Rate |
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4.63%
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| Loan related costs |
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$ 7,900,000
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| Prepayment fee |
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5,100,000
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| Debt instrument, principal amount |
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$ 225,000,000.0
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| Debt instrument, interest rate terms |
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monthly interest-only payments
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| Number of properties secured | Property |
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25
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| American General Life Insurance Company [Member] |
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| Debt Instrument [Line Items] |
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| Mortgage notes payable |
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$ 125,000,000
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| Permanent financing period |
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7 years
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| Payment term based on amortization schedule |
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30 years
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| Debt instrument, payment terms |
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The loan is a seven-year term loan that requires payments based on a 30-year amortization schedule at the rate of 6.12% per annum with the entire principal balance plus any accrued and unpaid interest due and payable on April 1, 2031.
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| Interest Rate |
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6.12%
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| Debt instrument, principal amount |
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$ 90,000,000
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| American General Life Insurance Company [Member] | Minimum [Member] |
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| Debt Instrument [Line Items] |
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| Loan Prepayment Premium Percentage,upon providing advance notice of prepayment |
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1.00%
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| Revolving Line of Credit Facility [Member] | American General Life Insurance Company [Member] |
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| Debt Instrument [Line Items] |
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| Debt instrument, principal amount |
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$ 40,000,000
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| Term Loan [Member] | American General Life Insurance Company [Member] |
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| Debt Instrument [Line Items] |
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| Debt instrument, principal amount |
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$ 50,000,000
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| Piscataway, NJ [Member] |
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| Debt Instrument [Line Items] |
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| Number of properties acquired | Property |
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6
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| Piscataway, NJ [Member] | Allstate Life Insurance Company, Loan [Member] |
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| Debt Instrument [Line Items] |
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| Mortgage notes payable |
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$ 39,100,000
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| Permanent financing period |
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10 years
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| Payment term based on amortization schedule |
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30 years
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| Debt Instrument, balloon payment due upon maturity |
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$ 33,700,000
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| Maturity |
May 01, 2025
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Apr. 01, 2025
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| Interest Rate |
6.25%
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4.00%
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| New York [Member] | American International Group 2022, Loan [Member] | A I G Loans |
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| Debt Instrument [Line Items] |
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| Debt instrument, principal amount |
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$ 144,300,000
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| Connecticut And New Jersey | American International Group 2022, Loan [Member] | A I G Loans |
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| Debt Instrument [Line Items] |
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| Debt instrument, principal amount |
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$ 80,700,000
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| People's United Bank Loan Agreement [Member] |
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| Debt Instrument [Line Items] |
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| Leasable area owned by the company | ft² |
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84,000
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| Mortgage notes payable |
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$ 15,500,000
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| Permanent financing interest rate |
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4.18%
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| Permanent financing period |
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10 years
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| Payment term based on amortization schedule |
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25 years
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| Debt instrument, payment terms |
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Payments for the first seven years were interest only. Payments over the remaining three years of the term were based on a 25-year amortization schedule, with a balloon payment of $14.4 million due at maturity
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| Debt Instrument, balloon payment due upon maturity |
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$ 14,400,000
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