Indebtedness, net - Schedule of Indebtedness (Details)
$ in Thousands |
|
|
|
|
|
|
|
|
1 Months Ended |
3 Months Ended |
12 Months Ended |
|
|
Feb. 09, 2026 |
Dec. 31, 2025
USD ($)
extension
hotel
|
Sep. 09, 2025
USD ($)
extension
|
Jul. 30, 2025
USD ($)
extension
|
May 08, 2025
USD ($)
|
Apr. 09, 2025
extension
|
Feb. 24, 2025
extension
|
Feb. 12, 2025
USD ($)
extension
|
Mar. 20, 2026 |
Feb. 28, 2026 |
Jan. 31, 2026
USD ($)
|
Oct. 31, 2025
USD ($)
|
Aug. 31, 2025
USD ($)
|
Feb. 28, 2025 |
Jan. 31, 2025
USD ($)
|
Mar. 20, 2026
USD ($)
|
Dec. 31, 2025
USD ($)
extension
hotel
|
Dec. 31, 2024
USD ($)
hotel
|
Dec. 31, 2023
USD ($)
|
Feb. 11, 2026
USD ($)
hotel
|
Jun. 30, 2024
USD ($)
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt balance |
|
$ 2,586,884
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 2,586,884
|
$ 2,705,650
|
|
|
|
| Premiums (discounts), net |
|
301
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
301
|
331
|
|
|
|
| Capitalized default interest and late charges |
|
2,346
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,346
|
36
|
|
|
|
| Deferred loan costs, net |
|
(24,103)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(24,103)
|
(8,459)
|
|
|
|
| Indebtedness, net |
|
2,565,428
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,565,428
|
2,726,657
|
|
|
|
| Indebtedness, net |
|
2,526,608
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,526,608
|
2,629,289
|
|
|
|
| Book Value of Collateral |
|
$ 2,087,010
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 2,087,010
|
$ 2,345,012
|
|
|
|
| SOFR rate |
|
3.69%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3.69%
|
4.33%
|
|
|
|
| Repayments of long-term debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 709,174
|
$ 388,339
|
$ 396,947
|
|
|
| Disposal Group, Held-for-sale, Not Discontinued Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Indebtedness, net related to assets held for sale |
|
$ 38,820
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
38,820
|
97,368
|
|
|
|
| Mortgages |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt balance |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 8,900
|
| Embedded debt derivative |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Embedded debt derivative |
|
0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
0
|
$ 29,099
|
|
|
|
| Mortgage Loan due February 2025 4.45% | Mortgages |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Collateral | hotel |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2
|
|
|
|
| Interest rate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4.45%
|
|
|
|
| Basis spread on variable rate |
|
|
|
|
|
|
|
4.37%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt balance |
|
0
|
|
|
|
|
|
$ 580,000
|
|
|
|
|
|
|
|
|
0
|
$ 25,882
|
|
|
|
| Book Value of Collateral |
|
$ 0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 0
|
38,627
|
|
|
|
| Long-term debt, term (in months and years) |
|
|
|
|
|
|
|
2 years
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Number of extension options | extension |
|
|
|
|
|
|
|
3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Term of extension option (in years) |
|
|
|
|
|
|
|
1 year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortgage Loan due March 2025 4.66% | Mortgages |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Collateral | hotel |
|
1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1
|
|
|
|
|
| Interest rate |
|
4.66%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4.66%
|
|
|
|
|
| Debt balance |
|
$ 21,971
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 21,971
|
22,132
|
|
|
|
| Book Value of Collateral |
|
$ 22,146
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
22,146
|
$ 40,276
|
|
|
|
| Default interest accrued |
|
5.00%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortgage Loan due June 2025 4.03% | Mortgages |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Collateral | hotel |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4
|
|
|
|
| Basis spread on variable rate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4.03%
|
|
|
|
| Debt balance |
|
$ 0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
0
|
$ 143,877
|
|
|
|
| Book Value of Collateral |
|
0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
0
|
$ 122,603
|
|
|
|
| Mortgage Loan due June 2025 4.29% | Mortgages |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Collateral | hotel |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4
|
|
|
|
| Basis spread on variable rate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4.29%
|
|
|
|
| Debt balance |
|
0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
0
|
$ 159,424
|
|
|
|
| Book Value of Collateral |
|
0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
0
|
$ 62,801
|
|
|
|
| Mortgage Loan due June 2025 3.02% | Mortgages |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Collateral | hotel |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5
|
|
|
|
| Basis spread on variable rate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3.02%
|
|
|
|
| Debt balance |
|
0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
0
|
$ 109,473
|
|
|
|
| Book Value of Collateral |
|
0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
0
|
$ 151,592
|
|
|
|
| Mortgage Loan due December 2025 4.00% | Mortgages |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Collateral | hotel |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1
|
|
|
|
| Basis spread on variable rate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4.00%
|
|
|
|
| Debt balance |
|
0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
0
|
$ 37,000
|
|
|
|
| Book Value of Collateral |
|
0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
0
|
$ 63,633
|
|
|
|
| Term Loan due January 2026 14.00% | Term Loan |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basis spread on variable rate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
14.00%
|
|
|
|
| Debt balance |
|
0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
0
|
$ 44,722
|
|
|
|
| Book Value of Collateral |
|
$ 0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 0
|
0
|
|
|
|
| Exit fee payment |
|
|
|
|
|
|
|
$ 30,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortgage Loan due January 2026 4.15% | Mortgages |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Collateral | hotel |
|
18
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
18
|
|
|
|
|
| Basis spread on variable rate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4.15%
|
|
|
|
|
| Debt balance |
|
$ 733,625
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 733,625
|
862,027
|
|
|
|
| Book Value of Collateral |
|
$ 771,949
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 771,949
|
881,867
|
|
|
|
| Number of extension options | extension |
|
|
|
1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Term of extension option (in years) |
|
|
|
6 months
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Repayments of long-term debt |
|
|
|
$ 10,000
|
|
|
|
|
|
|
|
|
|
|
$ 118,400
|
|
|
|
|
|
|
| Mortgage Loan due January 2026 4.15% | Mortgages | Subsequent Event |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basis spread on variable rate |
|
|
|
|
|
|
|
|
|
|
4.41%
|
|
|
|
|
|
|
|
|
|
|
| Term of extension option (in years) |
|
|
|
|
|
|
|
|
|
|
6 months
|
|
|
|
|
|
|
|
|
|
|
| Repayments of long-term debt |
|
|
|
|
|
|
|
|
|
|
$ 10,000
|
|
|
|
|
|
|
|
|
|
|
| Mortgage Loan Due February 2026 3.28% | Mortgages |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Collateral | hotel |
|
8
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8
|
|
|
|
|
| Interest rate |
|
3.28%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3.28%
|
|
|
|
|
| Debt balance |
|
$ 325,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 325,000
|
325,000
|
|
|
|
| Book Value of Collateral |
|
$ 222,776
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 222,776
|
235,655
|
|
|
|
| Number of extension options | extension |
|
6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6
|
|
|
|
|
| Term of extension option (in years) |
|
|
|
|
|
|
|
|
|
|
|
|
|
1 year
|
|
|
1 year
|
|
|
|
|
| Mortgage Loan Due February 2026 3.28% | Mortgages | Subsequent Event |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Collateral | hotel |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8
|
|
| Debt balance |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 325,000
|
|
| Default interest accrued |
5.00%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortgage Loan due February 2026 2.85% | Mortgages |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Collateral | hotel |
|
1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1
|
|
|
|
|
| Basis spread on variable rate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2.85%
|
|
|
|
|
| Debt balance |
|
$ 12,330
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 12,330
|
12,330
|
|
|
|
| Book Value of Collateral |
|
$ 20,699
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 20,699
|
21,565
|
|
|
|
| Number of extension options | extension |
|
|
|
|
|
|
1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Term of extension option (in years) |
|
|
|
|
|
|
1 year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortgage Loan due February 2026 2.85% | Mortgages | Subsequent Event |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt instrument term (in years) |
|
|
|
|
|
|
|
|
|
1 year
|
|
|
|
|
|
|
|
|
|
|
|
| Amended Mortgage Loan due March 2026 3.83% | Mortgages |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Collateral | hotel |
|
14
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
14
|
|
|
|
|
| Basis spread on variable rate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3.83%
|
|
|
|
|
| Debt balance |
|
$ 341,203
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 341,203
|
409,750
|
|
|
|
| Book Value of Collateral |
|
$ 198,713
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 198,713
|
232,485
|
|
|
|
| Number of extension options | extension |
|
|
|
|
|
2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Term of extension option (in years) |
|
|
|
|
|
1 year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Amended Mortgage Loan due March 2026 3.83% | Mortgages | Subsequent Event |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Term of extension option (in years) |
|
|
|
|
|
|
|
|
1 year
|
|
|
|
|
|
|
|
|
|
|
|
|
| Amended Mortgage Loan due March 2026 3.83% | Mortgages | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Hilton Houston NASA Clear Lake |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Repayments of long-term debt |
|
|
|
|
|
|
|
|
|
|
|
$ 37,100
|
$ 31,400
|
|
|
|
|
|
|
|
|
| Amended Mortgage Loan due March 2026 3.83% | Mortgages | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Hilton Houston NASA Clear Lake | Subsequent Event |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Repayments of long-term debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 111,100
|
|
|
|
|
|
| Mortgage Loan due May 2026 4.00% | Mortgages |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Collateral | hotel |
|
2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2
|
|
|
|
|
| Basis spread on variable rate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4.00%
|
|
|
|
|
| Debt balance |
|
$ 98,450
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 98,450
|
98,450
|
|
|
|
| Book Value of Collateral |
|
$ 104,086
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 104,086
|
139,244
|
|
|
|
| Number of extension options | extension |
|
2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2
|
|
|
|
|
| Term of extension option (in years) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1 year
|
|
|
|
|
| SOFR Floor (as a percent) |
|
0.50%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
0.50%
|
|
|
|
|
| Mortgage Loan due May 2026 4.00% | Mortgages | Disposal Group, Disposed of by Sale, Not Discontinued Operations | La Posada de Santa Fe Resort & Spa | Subsequent Event |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Repayments of long-term debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 56,000
|
|
|
|
|
|
| Mortgage Loan due February 2027 4.37% | Mortgages |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Collateral | hotel |
|
16
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
16
|
|
|
|
|
| Basis spread on variable rate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4.37%
|
|
|
|
|
| Debt balance |
|
$ 580,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 580,000
|
0
|
|
|
|
| Book Value of Collateral |
|
$ 420,162
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 420,162
|
0
|
|
|
|
| Mortgage Loan due September 2027 2.26% | Mortgages |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Collateral | hotel |
|
1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1
|
|
|
|
|
| Basis spread on variable rate |
|
|
2.26%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2.26%
|
|
|
|
|
| Debt balance |
|
$ 218,100
|
$ 218,100
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 218,100
|
267,200
|
|
|
|
| Book Value of Collateral |
|
$ 142,041
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 142,041
|
148,488
|
|
|
|
| Number of extension options | extension |
|
|
3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Term of extension option (in years) |
|
|
1 year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortgage Loan Due November 2027 4.75% | Mortgages |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Collateral | hotel |
|
1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1
|
|
|
|
|
| Basis spread on variable rate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4.75%
|
|
|
|
|
| Debt balance |
|
$ 121,500
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 121,500
|
121,500
|
|
|
|
| Book Value of Collateral |
|
$ 75,011
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 75,011
|
77,165
|
|
|
|
| Number of extension options | extension |
|
2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2
|
|
|
|
|
| Term of extension option (in years) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1 year
|
|
|
|
|
| SOFR Floor (as a percent) |
|
2.75%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2.75%
|
|
|
|
|
| Mortgage Loan due December 2028 8.51% | Mortgages |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Collateral | hotel |
|
4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4
|
|
|
|
|
| Interest rate |
|
8.51%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8.51%
|
|
|
|
|
| Debt balance |
|
$ 30,200
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 30,200
|
30,200
|
|
|
|
| Book Value of Collateral |
|
$ 32,198
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 32,198
|
35,792
|
|
|
|
| Preferred Interest due May 2029 11.14% | Preferred Interest |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Collateral | hotel |
|
1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1
|
|
|
|
|
| Interest rate |
|
11.14%
|
11.14%
|
|
14.00%
|
|
|
|
|
|
|
|
|
|
|
|
11.14%
|
|
|
|
|
| Debt balance |
|
$ 88,845
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 88,845
|
0
|
|
|
|
| Book Value of Collateral |
|
0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
0
|
$ 0
|
|
|
|
| Proceeds from equity investment in hotel property |
|
|
$ 53,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Bridge Loan due September 2025 7.75% | Bridge Loan |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Collateral | hotel |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1
|
|
|
|
| Interest rate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7.75%
|
|
|
|
| Debt balance |
|
0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
0
|
$ 20,898
|
|
|
|
| Book Value of Collateral |
|
$ 0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 0
|
0
|
|
|
|
| Construction Loan due May 2033 11.26% | Construction loan |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Collateral | hotel |
|
1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1
|
|
|
|
|
| Interest rate |
|
11.26%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11.26%
|
|
|
|
|
| Debt balance |
|
$ 15,660
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 15,660
|
15,785
|
|
|
|
| Book Value of Collateral |
|
$ 77,229
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 77,229
|
93,219
|
|
|
|
| Loan due April 2025 3.70% | Disposal Group, Held-for-sale, Not Discontinued Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Collateral | hotel |
|
1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1
|
|
|
|
|
| Basis spread on variable rate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3.91%
|
|
|
|
|
| Indebtedness, net related to assets held for sale |
|
$ 0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 0
|
97,368
|
|
|
|
| Loan due March 2026 3.83% | Disposal Group, Held-for-sale, Not Discontinued Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Collateral | hotel |
|
2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2
|
|
|
|
|
| Basis spread on variable rate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3.83%
|
|
|
|
|
| Indebtedness, net related to assets held for sale |
|
$ 38,820
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 38,820
|
$ 0
|
|
|
|
| Preferred Interest due May 2029 14.00% | Preferred Interest |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from equity investment in hotel property |
|
|
|
|
$ 35,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|