| Schedule of Condensed Statements of Operations and Balance Sheet Information of Consolidated and Unconsolidated Joint Ventures |
Condensed balance sheet information and statement of operations of the Company’s unconsolidated joint ventures are as follows: Balance Sheet Information as of December 31: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Joint Venture | | TRC | | Assets | | Borrowings | | Equity (Deficit) | | Investment In | | 2025 | | 2024 | | 2025 | | 2024 | | 2025 | | 2024 | | 2025 | | 2024 | | Petro Travel Plaza Holdings LLC | $ | 70,763 | | | $ | 73,558 | | | $ | (11,030) | | | $ | (11,793) | | | $ | 53,530 | | | $ | 53,571 | | | $ | 19,884 | | | $ | 19,823 | | | | | | | | | | | | | | | | | | | TRCC/Rock Outlet Center, LLC | 54,881 | | | 54,533 | | | (20,039) | | | (20,545) | | | 33,940 | | | 32,832 | | | 9,146 | | | 8,592 | | | TRC-MRC 1, LLC | 23,510 | | | 24,539 | | | (20,763) | | | (21,470) | | | 2,112 | | | 2,591 | | | — | | | — | | | TRC-MRC 2, LLC | 21,759 | | | 21,552 | | | (20,496) | | | (21,234) | | | 380 | | | 768 | | | 234 | | | 77 | | | TRC-MRC 3, LLC | 33,503 | | | 34,436 | | | (31,777) | | | (32,722) | | | 1,450 | | | 2,529 | | | 98 | | | 142 | | | TRC-MRC 4, LLC | 47,004 | | | 49,118 | | | (59,960) | | | (60,906) | | | (13,709) | | | (10,664) | | | — | | | — | | | TRC-MRC 5, LLC | 48,510 | | | 49,556 | | | (52,027) | | | (52,795) | | | (2,488) | | | (643) | | | — | | | — | | | TRC-DP1, LLC | — | | | — | | | — | | | — | | | — | | | — | | | 624 | | | 346 | | | Total | $ | 299,930 | | | $ | 307,292 | | | $ | (216,092) | | | $ | (221,465) | | | $ | 75,215 | | | $ | 80,984 | | | $ | 29,986 | | | $ | 28,980 | | | | | | | | | | | | | | | | | | | Centennial Founders, LLC | $ | 109,287 | | | $ | 107,015 | | | $ | — | | | $ | — | | | $ | 108,906 | | | $ | 106,766 | | | Consolidated | |
Condensed Statement of Operations Information as of December 31: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Joint Venture | | TRC | | Revenues | | Earnings (Loss) | | Equity in Earnings (Loss) | | 2025 | | 2024 | | 2023 | | 2025 | | 2024 | | 2023 | | 2025 | | 2024 | | 2023 | | Petro Travel Plaza Holdings LLC | $ | 140,757 | | | $ | 153,547 | | | $ | 162,614 | | | $ | 9,959 | | | $ | 13,621 | | | $ | 10,481 | | | $ | 6,061 | | | $ | 8,253 | | | $ | 6,288 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | TRCC/Rock Outlet Center, LLC1 | 6,873 | | | 7,100 | | | 6,391 | | | (2,892) | | | (2,703) | | | (3,571) | | | (1,446) | | | (1,351) | | | (1,786) | | | TRC-MRC 1, LLC | 5,152 | | | 4,399 | | | 4,346 | | | 1,846 | | | 1,226 | | | 1,192 | | | 923 | | | 613 | | | 596 | | | TRC-MRC 2, LLC | 7,071 | | | 6,761 | | | 5,860 | | | 3,664 | | | 4,324 | | | 2,772 | | | 1,832 | | | 2,162 | | | 1,386 | | | TRC-MRC 3 LLC | 4,437 | | | 4,405 | | | 4,323 | | | 887 | | | 843 | | | 645 | | | 444 | | | 422 | | | 323 | | | TRC-MRC 4, LLC | 7,691 | | | 7,805 | | | 7,281 | | | 727 | | | 1,054 | | | 332 | | | 363 | | | 527 | | | 166 | | | TRC-MRC 5, LLC | 6,728 | | | 6,314 | | | — | | | 370 | | | 509 | | | (210) | | | 185 | | | 255 | | | (105) | | | | | | | | | | | | | | | | | | | | | $ | 178,709 | | 2 | $ | 190,331 | | | $ | 190,815 | | | $ | 14,561 | | | $ | 18,874 | | | $ | 11,641 | | | $ | 8,362 | | | $ | 10,881 | | | $ | 6,868 | | | | | | | | | | | | | | | | | | | | | Centennial Founders, LLC | $ | — | | | $ | 66 | | | $ | 267 | | | $ | (60) | | | $ | (36) | | | $ | (6) | | | Consolidated | | | | | | | | | | | | | | | | | | | 1 Revenues for TRCC/Rock Outlet Center are presented net of non-cash tenant allowance amortization of $0.7 million, $1.3 million and $1.3 million for the years ended December 31, 2025, 2024 and 2023, respectively. | 2 TRC-DP1, LLC did not have any operating activities during 2024 and 2025. | |
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