v3.25.1
Note 14 - Fair Value of Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Carrying Amounts and Fair value of Assets and Liabilities Measured at Fair Value on a Recurring and Non Recurring Basis The following tables present the carrying amounts of these assets and liabilities that are measured at fair value on a recurring basis by instrument type and based upon the level of the fair value hierarchy within which fair value measurements of the Company’s assets and liabilities are categorized:

 

 

 

 

 

 

Fair Value Measurements

 

(in thousands)

 

March 31, 2025

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Derivative instruments

 

$

364

 

 

$

—

 

 

$

364

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Derivative instruments (1)

 

$

229

 

 

$

—

 

 

$

229

 

 

$

—

 

Fortress Mezzanine Loan

 

$

16,688

 

 

$

—

 

 

$

16,688

 

 

$

—

 

 

(1)
Derivative liabilities are included in Accounts payable and accrued liabilities on the condensed consolidated balance sheets.

 

 

 

 

 

 

Fair Value Measurements

 

(in thousands)

 

December 31, 2024

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Derivative instruments

 

$

737

 

 

$

—

 

 

$

737

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Derivative instruments (1)

 

$

20

 

 

$

—

 

 

$

20

 

 

$

—

 

Fortress Mezzanine Loan

 

$

16,911

 

 

$

—

 

 

$

16,911

 

 

$

—

 
(1)
Derivative liabilities are included in Accounts payable and accrued liabilities on the condensed consolidated balance sheets.

The tables below provide information about the carrying amounts and fair values of those financial instruments of the Company for which fair value is not measured on a recurring basis and organizes the information based upon the level of the fair value hierarchy within which fair value measurements are categorized.

 

 

 

At March 31, 2025

 

 

 

 

 

 

Fair Value

 

(in thousands)

 

Carrying Amount

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

13,504

 

 

$

13,504

 

 

$

—

 

 

$

—

 

Restricted cash

 

$

4,807

 

 

$

4,807

 

 

$

—

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage and other indebtedness, net - variable rate

 

$

51,463

 

 

$

—

 

 

$

51,463

 

 

$

—

 

Mortgage and other indebtedness, net - fixed rate

 

$

180,691

 

 

$

—

 

 

$

183,727

 

 

$

—

 

 

 

 

At December 31, 2024

 

 

 

 

 

 

Fair Value

 

(in thousands)

 

Carrying Amount

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

16,160

 

 

$

16,160

 

 

$

—

 

 

$

—

 

Restricted cash

 

 

4,574

 

 

 

4,574

 

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage and other indebtedness, net - variable rate

 

$

51,666

 

 

$

—

 

 

$

51,666

 

 

$

—

 

Mortgage and other indebtedness, net - fixed rate

 

 

180,587

 

 

 

—

 

 

 

181,561

 

 

 

—