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In the ordinary course of business, we enter into various rig leases, rig transportation and related oilfield services agreements with our unconsolidated affiliates at market prices. Historically, these transactions primarily related to our former equity method investment in Nabors Arabia. During 2017, our joint venture with Saudi Aramco, SANAD, began operations. As such, we have included transactions with Saudi Aramco effective as of the commencement of operations of SANAD. See Note 12—Joint Ventures. Revenues from business transactions with these affiliated entities totaled $ 881.8 million, $ 782.7 million and $ 682.7 million for 2024, 2023 and 2022, respectively. Additionally, we had accounts receivable from these affiliated entities of $ 115.9 million and $ 92.7 million as of December 31, 2024 and 2023. | text | 782.7 | monetaryItemType | text: <entity> 782.7 </entity> <entity type> monetaryItemType </entity type> <context> In the ordinary course of business, we enter into various rig leases, rig transportation and related oilfield services agreements with our unconsolidated affiliates at market prices. Historically, these transactions primarily related to our former equity method investment in Nabors Arabia. During 2017, our joint venture with Saudi Aramco, SANAD, began operations. As such, we have included transactions with Saudi Aramco effective as of the commencement of operations of SANAD. See Note 12—Joint Ventures. Revenues from business transactions with these affiliated entities totaled $ 881.8 million, $ 782.7 million and $ 682.7 million for 2024, 2023 and 2022, respectively. Additionally, we had accounts receivable from these affiliated entities of $ 115.9 million and $ 92.7 million as of December 31, 2024 and 2023. </context> | us-gaap:RevenueNotFromContractWithCustomer |
In the ordinary course of business, we enter into various rig leases, rig transportation and related oilfield services agreements with our unconsolidated affiliates at market prices. Historically, these transactions primarily related to our former equity method investment in Nabors Arabia. During 2017, our joint venture with Saudi Aramco, SANAD, began operations. As such, we have included transactions with Saudi Aramco effective as of the commencement of operations of SANAD. See Note 12—Joint Ventures. Revenues from business transactions with these affiliated entities totaled $ 881.8 million, $ 782.7 million and $ 682.7 million for 2024, 2023 and 2022, respectively. Additionally, we had accounts receivable from these affiliated entities of $ 115.9 million and $ 92.7 million as of December 31, 2024 and 2023. | text | 682.7 | monetaryItemType | text: <entity> 682.7 </entity> <entity type> monetaryItemType </entity type> <context> In the ordinary course of business, we enter into various rig leases, rig transportation and related oilfield services agreements with our unconsolidated affiliates at market prices. Historically, these transactions primarily related to our former equity method investment in Nabors Arabia. During 2017, our joint venture with Saudi Aramco, SANAD, began operations. As such, we have included transactions with Saudi Aramco effective as of the commencement of operations of SANAD. See Note 12—Joint Ventures. Revenues from business transactions with these affiliated entities totaled $ 881.8 million, $ 782.7 million and $ 682.7 million for 2024, 2023 and 2022, respectively. Additionally, we had accounts receivable from these affiliated entities of $ 115.9 million and $ 92.7 million as of December 31, 2024 and 2023. </context> | us-gaap:RevenueNotFromContractWithCustomer |
In the ordinary course of business, we enter into various rig leases, rig transportation and related oilfield services agreements with our unconsolidated affiliates at market prices. Historically, these transactions primarily related to our former equity method investment in Nabors Arabia. During 2017, our joint venture with Saudi Aramco, SANAD, began operations. As such, we have included transactions with Saudi Aramco effective as of the commencement of operations of SANAD. See Note 12—Joint Ventures. Revenues from business transactions with these affiliated entities totaled $ 881.8 million, $ 782.7 million and $ 682.7 million for 2024, 2023 and 2022, respectively. Additionally, we had accounts receivable from these affiliated entities of $ 115.9 million and $ 92.7 million as of December 31, 2024 and 2023. | text | 115.9 | monetaryItemType | text: <entity> 115.9 </entity> <entity type> monetaryItemType </entity type> <context> In the ordinary course of business, we enter into various rig leases, rig transportation and related oilfield services agreements with our unconsolidated affiliates at market prices. Historically, these transactions primarily related to our former equity method investment in Nabors Arabia. During 2017, our joint venture with Saudi Aramco, SANAD, began operations. As such, we have included transactions with Saudi Aramco effective as of the commencement of operations of SANAD. See Note 12—Joint Ventures. Revenues from business transactions with these affiliated entities totaled $ 881.8 million, $ 782.7 million and $ 682.7 million for 2024, 2023 and 2022, respectively. Additionally, we had accounts receivable from these affiliated entities of $ 115.9 million and $ 92.7 million as of December 31, 2024 and 2023. </context> | us-gaap:AccountsReceivableGross |
In the ordinary course of business, we enter into various rig leases, rig transportation and related oilfield services agreements with our unconsolidated affiliates at market prices. Historically, these transactions primarily related to our former equity method investment in Nabors Arabia. During 2017, our joint venture with Saudi Aramco, SANAD, began operations. As such, we have included transactions with Saudi Aramco effective as of the commencement of operations of SANAD. See Note 12—Joint Ventures. Revenues from business transactions with these affiliated entities totaled $ 881.8 million, $ 782.7 million and $ 682.7 million for 2024, 2023 and 2022, respectively. Additionally, we had accounts receivable from these affiliated entities of $ 115.9 million and $ 92.7 million as of December 31, 2024 and 2023. | text | 92.7 | monetaryItemType | text: <entity> 92.7 </entity> <entity type> monetaryItemType </entity type> <context> In the ordinary course of business, we enter into various rig leases, rig transportation and related oilfield services agreements with our unconsolidated affiliates at market prices. Historically, these transactions primarily related to our former equity method investment in Nabors Arabia. During 2017, our joint venture with Saudi Aramco, SANAD, began operations. As such, we have included transactions with Saudi Aramco effective as of the commencement of operations of SANAD. See Note 12—Joint Ventures. Revenues from business transactions with these affiliated entities totaled $ 881.8 million, $ 782.7 million and $ 682.7 million for 2024, 2023 and 2022, respectively. Additionally, we had accounts receivable from these affiliated entities of $ 115.9 million and $ 92.7 million as of December 31, 2024 and 2023. </context> | us-gaap:AccountsReceivableGross |
In addition, Mr. Crane, one of our independent directors, is Chairman and Chief Executive Officer of Crane Capital Group Inc. (“CCG”), an investment company that indirectly owns a majority interest in several operating companies, some of which have provided services to us in the ordinary course of business, including international logistics and electricity. During 2024, 2023 and 2022, we incurred costs for these services of $ 7.9 million, $ 13.2 million and $ 11.4 million, respectively. We had accounts payable to these CCG-related companies of $ 1.8 million and $ 2.0 million as of December 31, 2024 and 2023. | text | 7.9 | monetaryItemType | text: <entity> 7.9 </entity> <entity type> monetaryItemType </entity type> <context> In addition, Mr. Crane, one of our independent directors, is Chairman and Chief Executive Officer of Crane Capital Group Inc. (“CCG”), an investment company that indirectly owns a majority interest in several operating companies, some of which have provided services to us in the ordinary course of business, including international logistics and electricity. During 2024, 2023 and 2022, we incurred costs for these services of $ 7.9 million, $ 13.2 million and $ 11.4 million, respectively. We had accounts payable to these CCG-related companies of $ 1.8 million and $ 2.0 million as of December 31, 2024 and 2023. </context> | us-gaap:OperatingCostsAndExpenses |
In addition, Mr. Crane, one of our independent directors, is Chairman and Chief Executive Officer of Crane Capital Group Inc. (“CCG”), an investment company that indirectly owns a majority interest in several operating companies, some of which have provided services to us in the ordinary course of business, including international logistics and electricity. During 2024, 2023 and 2022, we incurred costs for these services of $ 7.9 million, $ 13.2 million and $ 11.4 million, respectively. We had accounts payable to these CCG-related companies of $ 1.8 million and $ 2.0 million as of December 31, 2024 and 2023. | text | 13.2 | monetaryItemType | text: <entity> 13.2 </entity> <entity type> monetaryItemType </entity type> <context> In addition, Mr. Crane, one of our independent directors, is Chairman and Chief Executive Officer of Crane Capital Group Inc. (“CCG”), an investment company that indirectly owns a majority interest in several operating companies, some of which have provided services to us in the ordinary course of business, including international logistics and electricity. During 2024, 2023 and 2022, we incurred costs for these services of $ 7.9 million, $ 13.2 million and $ 11.4 million, respectively. We had accounts payable to these CCG-related companies of $ 1.8 million and $ 2.0 million as of December 31, 2024 and 2023. </context> | us-gaap:OperatingCostsAndExpenses |
In addition, Mr. Crane, one of our independent directors, is Chairman and Chief Executive Officer of Crane Capital Group Inc. (“CCG”), an investment company that indirectly owns a majority interest in several operating companies, some of which have provided services to us in the ordinary course of business, including international logistics and electricity. During 2024, 2023 and 2022, we incurred costs for these services of $ 7.9 million, $ 13.2 million and $ 11.4 million, respectively. We had accounts payable to these CCG-related companies of $ 1.8 million and $ 2.0 million as of December 31, 2024 and 2023. | text | 11.4 | monetaryItemType | text: <entity> 11.4 </entity> <entity type> monetaryItemType </entity type> <context> In addition, Mr. Crane, one of our independent directors, is Chairman and Chief Executive Officer of Crane Capital Group Inc. (“CCG”), an investment company that indirectly owns a majority interest in several operating companies, some of which have provided services to us in the ordinary course of business, including international logistics and electricity. During 2024, 2023 and 2022, we incurred costs for these services of $ 7.9 million, $ 13.2 million and $ 11.4 million, respectively. We had accounts payable to these CCG-related companies of $ 1.8 million and $ 2.0 million as of December 31, 2024 and 2023. </context> | us-gaap:OperatingCostsAndExpenses |
In addition, Mr. Crane, one of our independent directors, is Chairman and Chief Executive Officer of Crane Capital Group Inc. (“CCG”), an investment company that indirectly owns a majority interest in several operating companies, some of which have provided services to us in the ordinary course of business, including international logistics and electricity. During 2024, 2023 and 2022, we incurred costs for these services of $ 7.9 million, $ 13.2 million and $ 11.4 million, respectively. We had accounts payable to these CCG-related companies of $ 1.8 million and $ 2.0 million as of December 31, 2024 and 2023. | text | 1.8 | monetaryItemType | text: <entity> 1.8 </entity> <entity type> monetaryItemType </entity type> <context> In addition, Mr. Crane, one of our independent directors, is Chairman and Chief Executive Officer of Crane Capital Group Inc. (“CCG”), an investment company that indirectly owns a majority interest in several operating companies, some of which have provided services to us in the ordinary course of business, including international logistics and electricity. During 2024, 2023 and 2022, we incurred costs for these services of $ 7.9 million, $ 13.2 million and $ 11.4 million, respectively. We had accounts payable to these CCG-related companies of $ 1.8 million and $ 2.0 million as of December 31, 2024 and 2023. </context> | us-gaap:AccountsPayableCurrentAndNoncurrent |
In addition, Mr. Crane, one of our independent directors, is Chairman and Chief Executive Officer of Crane Capital Group Inc. (“CCG”), an investment company that indirectly owns a majority interest in several operating companies, some of which have provided services to us in the ordinary course of business, including international logistics and electricity. During 2024, 2023 and 2022, we incurred costs for these services of $ 7.9 million, $ 13.2 million and $ 11.4 million, respectively. We had accounts payable to these CCG-related companies of $ 1.8 million and $ 2.0 million as of December 31, 2024 and 2023. | text | 2.0 | monetaryItemType | text: <entity> 2.0 </entity> <entity type> monetaryItemType </entity type> <context> In addition, Mr. Crane, one of our independent directors, is Chairman and Chief Executive Officer of Crane Capital Group Inc. (“CCG”), an investment company that indirectly owns a majority interest in several operating companies, some of which have provided services to us in the ordinary course of business, including international logistics and electricity. During 2024, 2023 and 2022, we incurred costs for these services of $ 7.9 million, $ 13.2 million and $ 11.4 million, respectively. We had accounts payable to these CCG-related companies of $ 1.8 million and $ 2.0 million as of December 31, 2024 and 2023. </context> | us-gaap:AccountsPayableCurrentAndNoncurrent |
Nabors and its subsidiaries occupy various facilities and lease certain equipment under various lease agreements. Rental expense relating to operating leases with terms greater than 30 days amounted to $ 15.7 million, $ 17.2 million and $ 15.0 million for the years ended December 31, 2024, 2023 and 2022, respectively. See Note 19—Leases for more information on the minimum rental commitments under non-cancelable operating leases. | text | 15.7 | monetaryItemType | text: <entity> 15.7 </entity> <entity type> monetaryItemType </entity type> <context> Nabors and its subsidiaries occupy various facilities and lease certain equipment under various lease agreements. Rental expense relating to operating leases with terms greater than 30 days amounted to $ 15.7 million, $ 17.2 million and $ 15.0 million for the years ended December 31, 2024, 2023 and 2022, respectively. See Note 19—Leases for more information on the minimum rental commitments under non-cancelable operating leases. </context> | us-gaap:OperatingLeaseExpense |
Nabors and its subsidiaries occupy various facilities and lease certain equipment under various lease agreements. Rental expense relating to operating leases with terms greater than 30 days amounted to $ 15.7 million, $ 17.2 million and $ 15.0 million for the years ended December 31, 2024, 2023 and 2022, respectively. See Note 19—Leases for more information on the minimum rental commitments under non-cancelable operating leases. | text | 17.2 | monetaryItemType | text: <entity> 17.2 </entity> <entity type> monetaryItemType </entity type> <context> Nabors and its subsidiaries occupy various facilities and lease certain equipment under various lease agreements. Rental expense relating to operating leases with terms greater than 30 days amounted to $ 15.7 million, $ 17.2 million and $ 15.0 million for the years ended December 31, 2024, 2023 and 2022, respectively. See Note 19—Leases for more information on the minimum rental commitments under non-cancelable operating leases. </context> | us-gaap:OperatingLeaseExpense |
Nabors and its subsidiaries occupy various facilities and lease certain equipment under various lease agreements. Rental expense relating to operating leases with terms greater than 30 days amounted to $ 15.7 million, $ 17.2 million and $ 15.0 million for the years ended December 31, 2024, 2023 and 2022, respectively. See Note 19—Leases for more information on the minimum rental commitments under non-cancelable operating leases. | text | 15.0 | monetaryItemType | text: <entity> 15.0 </entity> <entity type> monetaryItemType </entity type> <context> Nabors and its subsidiaries occupy various facilities and lease certain equipment under various lease agreements. Rental expense relating to operating leases with terms greater than 30 days amounted to $ 15.7 million, $ 17.2 million and $ 15.0 million for the years ended December 31, 2024, 2023 and 2022, respectively. See Note 19—Leases for more information on the minimum rental commitments under non-cancelable operating leases. </context> | us-gaap:OperatingLeaseExpense |
In March 2011, the Court of Ouargla entered a judgment of approximately $ 20.8 million (at December 31, 2024 exchange rates) against us relating to alleged violations of Algeria’s foreign currency exchange controls, which require that goods and services provided locally be invoiced and paid in local currency. The case relates to certain foreign currency payments made to us by CEPSA, a Spanish operator, for wells drilled in 2006. Approximately $ 7.5 million of the total contract amount was paid offshore in foreign currency, and approximately $ 3.2 million was paid in local currency. The judgment includes fines and penalties of approximately four times the amount at issue. We have appealed the ruling based on our understanding that the law in question applies only to resident entities incorporated under Algerian law. An intermediate court of appeals upheld the lower court’s ruling, and we appealed the matter to the Supreme Court. On September 25, 2014, the Supreme Court overturned the verdict against us, and the case was reheard by the Ouargla Court of Appeals on March 22, 2015 in light of the Supreme Court’s opinion. On March 29, 2015, the Ouargla Court of Appeals reinstated the initial judgment against us. We appealed this decision again to the Supreme Court, which again overturned the appeals court’s decision. The case was moved back to the court of appeals, which, once again, reinstated the verdict, failing to abide by the Supreme Court’s ruling. Accordingly, we are appealing once more to the Supreme Court to try to get a final ruling on the matter. While our payments were consistent with our historical operations in the country, and, we believe, those of other multinational corporations there, as well as interpretations of the law by the Central Bank of Algeria, the ultimate resolution of this matter could result in a loss of up to $ 12.8 million in excess of amounts accrued. | text | 20.8 | monetaryItemType | text: <entity> 20.8 </entity> <entity type> monetaryItemType </entity type> <context> In March 2011, the Court of Ouargla entered a judgment of approximately $ 20.8 million (at December 31, 2024 exchange rates) against us relating to alleged violations of Algeria’s foreign currency exchange controls, which require that goods and services provided locally be invoiced and paid in local currency. The case relates to certain foreign currency payments made to us by CEPSA, a Spanish operator, for wells drilled in 2006. Approximately $ 7.5 million of the total contract amount was paid offshore in foreign currency, and approximately $ 3.2 million was paid in local currency. The judgment includes fines and penalties of approximately four times the amount at issue. We have appealed the ruling based on our understanding that the law in question applies only to resident entities incorporated under Algerian law. An intermediate court of appeals upheld the lower court’s ruling, and we appealed the matter to the Supreme Court. On September 25, 2014, the Supreme Court overturned the verdict against us, and the case was reheard by the Ouargla Court of Appeals on March 22, 2015 in light of the Supreme Court’s opinion. On March 29, 2015, the Ouargla Court of Appeals reinstated the initial judgment against us. We appealed this decision again to the Supreme Court, which again overturned the appeals court’s decision. The case was moved back to the court of appeals, which, once again, reinstated the verdict, failing to abide by the Supreme Court’s ruling. Accordingly, we are appealing once more to the Supreme Court to try to get a final ruling on the matter. While our payments were consistent with our historical operations in the country, and, we believe, those of other multinational corporations there, as well as interpretations of the law by the Central Bank of Algeria, the ultimate resolution of this matter could result in a loss of up to $ 12.8 million in excess of amounts accrued. </context> | us-gaap:LitigationSettlementAmountAwardedToOtherParty |
Diluted earnings (losses) per share is computed using the weighted-average number of common and common equivalent shares outstanding during the periods utilizing the two-class method for stock options and unvested restricted shares and the if-converted method for the 1.75 % senior exchangeable notes due June 2029 as the instrument contains a provision for share settlement. | text | 1.75 | percentItemType | text: <entity> 1.75 </entity> <entity type> percentItemType </entity type> <context> Diluted earnings (losses) per share is computed using the weighted-average number of common and common equivalent shares outstanding during the periods utilizing the two-class method for stock options and unvested restricted shares and the if-converted method for the 1.75 % senior exchangeable notes due June 2029 as the instrument contains a provision for share settlement. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
Additionally for the years ended December 31, 2024 and 2023, we excluded 1.2 million common shares from the computation of diluted shares related to the conversion of the 1.75 % senior exchangeable notes due June 2029, because their effect would be anti-dilutive under the if-converted method, respectively. | text | 1.75 | percentItemType | text: <entity> 1.75 </entity> <entity type> percentItemType </entity type> <context> Additionally for the years ended December 31, 2024 and 2023, we excluded 1.2 million common shares from the computation of diluted shares related to the conversion of the 1.75 % senior exchangeable notes due June 2029, because their effect would be anti-dilutive under the if-converted method, respectively. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
Our business consists of four reportable segments: U.S. Drilling, International Drilling, Drilling Solutions and Rig Technologies. Our reportable segments include operating segments that have been aggregated based on the nature of the products and services provided. The accounting policies of the segments are the same as those described in Note 2—Summary of Significant Accounting Policies. Inter-segment sales are recorded at cost or cost plus a profit margin. Management’s determination of our reporting segments was made on the basis of our strategic priorities within each segment and the differences in the products and services we provide. The reportable segments results are reviewed regularly by the chief operating decision maker (“CODM”), who is our Chairman and Chief Executive Officer, in deciding how to allocate resources and assess performance. Our CODM evaluates the segments’ operating performance based on adjusted operating income (loss), defined as net income (loss) before income taxes, interest expense, earnings (losses) from unconsolidated affiliates, investment income (loss), and other, net. | text | four | integerItemType | text: <entity> four </entity> <entity type> integerItemType </entity type> <context> Our business consists of four reportable segments: U.S. Drilling, International Drilling, Drilling Solutions and Rig Technologies. Our reportable segments include operating segments that have been aggregated based on the nature of the products and services provided. The accounting policies of the segments are the same as those described in Note 2—Summary of Significant Accounting Policies. Inter-segment sales are recorded at cost or cost plus a profit margin. Management’s determination of our reporting segments was made on the basis of our strategic priorities within each segment and the differences in the products and services we provide. The reportable segments results are reviewed regularly by the chief operating decision maker (“CODM”), who is our Chairman and Chief Executive Officer, in deciding how to allocate resources and assess performance. Our CODM evaluates the segments’ operating performance based on adjusted operating income (loss), defined as net income (loss) before income taxes, interest expense, earnings (losses) from unconsolidated affiliates, investment income (loss), and other, net. </context> | us-gaap:NumberOfReportableSegments |
During the years ended December 31, 2024, 2023 and 2022, $ 927.7 million, $ 821.1 million and $ 712.8 million of our consolidated operating revenue was from Saudi Arabia. No other individual country outside of the U.S. was material to our consolidated operating revenue during any of the three periods presented. | text | 927.7 | monetaryItemType | text: <entity> 927.7 </entity> <entity type> monetaryItemType </entity type> <context> During the years ended December 31, 2024, 2023 and 2022, $ 927.7 million, $ 821.1 million and $ 712.8 million of our consolidated operating revenue was from Saudi Arabia. No other individual country outside of the U.S. was material to our consolidated operating revenue during any of the three periods presented. </context> | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
During the years ended December 31, 2024, 2023 and 2022, $ 927.7 million, $ 821.1 million and $ 712.8 million of our consolidated operating revenue was from Saudi Arabia. No other individual country outside of the U.S. was material to our consolidated operating revenue during any of the three periods presented. | text | 821.1 | monetaryItemType | text: <entity> 821.1 </entity> <entity type> monetaryItemType </entity type> <context> During the years ended December 31, 2024, 2023 and 2022, $ 927.7 million, $ 821.1 million and $ 712.8 million of our consolidated operating revenue was from Saudi Arabia. No other individual country outside of the U.S. was material to our consolidated operating revenue during any of the three periods presented. </context> | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
During the years ended December 31, 2024, 2023 and 2022, $ 927.7 million, $ 821.1 million and $ 712.8 million of our consolidated operating revenue was from Saudi Arabia. No other individual country outside of the U.S. was material to our consolidated operating revenue during any of the three periods presented. | text | 712.8 | monetaryItemType | text: <entity> 712.8 </entity> <entity type> monetaryItemType </entity type> <context> During the years ended December 31, 2024, 2023 and 2022, $ 927.7 million, $ 821.1 million and $ 712.8 million of our consolidated operating revenue was from Saudi Arabia. No other individual country outside of the U.S. was material to our consolidated operating revenue during any of the three periods presented. </context> | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
One customer accounted for approximately 31 %, 26 % and 26 % of our consolidated operating revenues during the years ended December 31, 2024, 2023 and 2022, respectively, and is included primarily in our International Drilling reportable segment. | text | 31 | percentItemType | text: <entity> 31 </entity> <entity type> percentItemType </entity type> <context> One customer accounted for approximately 31 %, 26 % and 26 % of our consolidated operating revenues during the years ended December 31, 2024, 2023 and 2022, respectively, and is included primarily in our International Drilling reportable segment. </context> | us-gaap:ConcentrationRiskPercentage1 |
One customer accounted for approximately 31 %, 26 % and 26 % of our consolidated operating revenues during the years ended December 31, 2024, 2023 and 2022, respectively, and is included primarily in our International Drilling reportable segment. | text | 26 | percentItemType | text: <entity> 26 </entity> <entity type> percentItemType </entity type> <context> One customer accounted for approximately 31 %, 26 % and 26 % of our consolidated operating revenues during the years ended December 31, 2024, 2023 and 2022, respectively, and is included primarily in our International Drilling reportable segment. </context> | us-gaap:ConcentrationRiskPercentage1 |
Approximately 69 % of the contract liability balance at the beginning of the period was recognized as revenue during 2024 and 18 % is expected to be recognized in 2025 . The remaining 13 % of the contract liability balance at the beginning of the period is expected to be recognized as revenue during 2026 or thereafter. | text | 18 | percentItemType | text: <entity> 18 </entity> <entity type> percentItemType </entity type> <context> Approximately 69 % of the contract liability balance at the beginning of the period was recognized as revenue during 2024 and 18 % is expected to be recognized in 2025 . The remaining 13 % of the contract liability balance at the beginning of the period is expected to be recognized as revenue during 2026 or thereafter. </context> | us-gaap:RevenueRemainingPerformanceObligationPercentage |
Approximately 69 % of the contract liability balance at the beginning of the period was recognized as revenue during 2024 and 18 % is expected to be recognized in 2025 . The remaining 13 % of the contract liability balance at the beginning of the period is expected to be recognized as revenue during 2026 or thereafter. | text | 13 | percentItemType | text: <entity> 13 </entity> <entity type> percentItemType </entity type> <context> Approximately 69 % of the contract liability balance at the beginning of the period was recognized as revenue during 2024 and 18 % is expected to be recognized in 2025 . The remaining 13 % of the contract liability balance at the beginning of the period is expected to be recognized as revenue during 2026 or thereafter. </context> | us-gaap:RevenueRemainingPerformanceObligationPercentage |
In November 2021, NETC cosponsored by Nabors and Greens Road Energy LLC completed its’ initial public offering. Greens Road Energy LLC is owned by certain members of Nabors’ board of directors and management team. As part of the initial public offering of NETC and subsequent private placement warrant transactions, $ 281.5 million was deposited in a Trust Account. In February 2023, NETC entered into a definitive agreement for a business combination with Vast, a development-stage company specializing in the design and manufacturing of concentrated solar thermal power (CSP) systems. | text | 281.5 | monetaryItemType | text: <entity> 281.5 </entity> <entity type> monetaryItemType </entity type> <context> In November 2021, NETC cosponsored by Nabors and Greens Road Energy LLC completed its’ initial public offering. Greens Road Energy LLC is owned by certain members of Nabors’ board of directors and management team. As part of the initial public offering of NETC and subsequent private placement warrant transactions, $ 281.5 million was deposited in a Trust Account. In February 2023, NETC entered into a definitive agreement for a business combination with Vast, a development-stage company specializing in the design and manufacturing of concentrated solar thermal power (CSP) systems. </context> | us-gaap:AssetsHeldInTrustNoncurrent |
In July 2023, NETC II co-sponsored by Nabors and Greens Road Energy II LLC, completed its initial public offering of 30,500,000 units at $ 10.00 per unit, generating gross proceeds of approximately $ 305.0 million. Greens Road Energy II LLC is owned by certain members of Nabors’ management team and board members. Simultaneously with the closing of the IPO, NETC II completed the private sale of an aggregate of 9,540,000 warrants for an aggregate value of $ 9.5 million and issued unsecured promissory notes for an aggregate amount of $ 3.1 million. As part of the initial public offering of NETC II and subsequent private placement warrant transactions, $ 308.1 million was deposited in a Trust Account on July 18, 2023. As of December 31, 2024 and 2023, the Trust Account balance was $ 331.8 million and $ 315.5 million, respectively. | text | 9.5 | monetaryItemType | text: <entity> 9.5 </entity> <entity type> monetaryItemType </entity type> <context> In July 2023, NETC II co-sponsored by Nabors and Greens Road Energy II LLC, completed its initial public offering of 30,500,000 units at $ 10.00 per unit, generating gross proceeds of approximately $ 305.0 million. Greens Road Energy II LLC is owned by certain members of Nabors’ management team and board members. Simultaneously with the closing of the IPO, NETC II completed the private sale of an aggregate of 9,540,000 warrants for an aggregate value of $ 9.5 million and issued unsecured promissory notes for an aggregate amount of $ 3.1 million. As part of the initial public offering of NETC II and subsequent private placement warrant transactions, $ 308.1 million was deposited in a Trust Account on July 18, 2023. As of December 31, 2024 and 2023, the Trust Account balance was $ 331.8 million and $ 315.5 million, respectively. </context> | us-gaap:ProceedsFromIssuanceOfWarrants |
In July 2023, NETC II co-sponsored by Nabors and Greens Road Energy II LLC, completed its initial public offering of 30,500,000 units at $ 10.00 per unit, generating gross proceeds of approximately $ 305.0 million. Greens Road Energy II LLC is owned by certain members of Nabors’ management team and board members. Simultaneously with the closing of the IPO, NETC II completed the private sale of an aggregate of 9,540,000 warrants for an aggregate value of $ 9.5 million and issued unsecured promissory notes for an aggregate amount of $ 3.1 million. As part of the initial public offering of NETC II and subsequent private placement warrant transactions, $ 308.1 million was deposited in a Trust Account on July 18, 2023. As of December 31, 2024 and 2023, the Trust Account balance was $ 331.8 million and $ 315.5 million, respectively. | text | 3.1 | monetaryItemType | text: <entity> 3.1 </entity> <entity type> monetaryItemType </entity type> <context> In July 2023, NETC II co-sponsored by Nabors and Greens Road Energy II LLC, completed its initial public offering of 30,500,000 units at $ 10.00 per unit, generating gross proceeds of approximately $ 305.0 million. Greens Road Energy II LLC is owned by certain members of Nabors’ management team and board members. Simultaneously with the closing of the IPO, NETC II completed the private sale of an aggregate of 9,540,000 warrants for an aggregate value of $ 9.5 million and issued unsecured promissory notes for an aggregate amount of $ 3.1 million. As part of the initial public offering of NETC II and subsequent private placement warrant transactions, $ 308.1 million was deposited in a Trust Account on July 18, 2023. As of December 31, 2024 and 2023, the Trust Account balance was $ 331.8 million and $ 315.5 million, respectively. </context> | us-gaap:NotesIssued1 |
In July 2023, NETC II co-sponsored by Nabors and Greens Road Energy II LLC, completed its initial public offering of 30,500,000 units at $ 10.00 per unit, generating gross proceeds of approximately $ 305.0 million. Greens Road Energy II LLC is owned by certain members of Nabors’ management team and board members. Simultaneously with the closing of the IPO, NETC II completed the private sale of an aggregate of 9,540,000 warrants for an aggregate value of $ 9.5 million and issued unsecured promissory notes for an aggregate amount of $ 3.1 million. As part of the initial public offering of NETC II and subsequent private placement warrant transactions, $ 308.1 million was deposited in a Trust Account on July 18, 2023. As of December 31, 2024 and 2023, the Trust Account balance was $ 331.8 million and $ 315.5 million, respectively. | text | 308.1 | monetaryItemType | text: <entity> 308.1 </entity> <entity type> monetaryItemType </entity type> <context> In July 2023, NETC II co-sponsored by Nabors and Greens Road Energy II LLC, completed its initial public offering of 30,500,000 units at $ 10.00 per unit, generating gross proceeds of approximately $ 305.0 million. Greens Road Energy II LLC is owned by certain members of Nabors’ management team and board members. Simultaneously with the closing of the IPO, NETC II completed the private sale of an aggregate of 9,540,000 warrants for an aggregate value of $ 9.5 million and issued unsecured promissory notes for an aggregate amount of $ 3.1 million. As part of the initial public offering of NETC II and subsequent private placement warrant transactions, $ 308.1 million was deposited in a Trust Account on July 18, 2023. As of December 31, 2024 and 2023, the Trust Account balance was $ 331.8 million and $ 315.5 million, respectively. </context> | us-gaap:AssetsHeldInTrustNoncurrent |
In July 2023, NETC II co-sponsored by Nabors and Greens Road Energy II LLC, completed its initial public offering of 30,500,000 units at $ 10.00 per unit, generating gross proceeds of approximately $ 305.0 million. Greens Road Energy II LLC is owned by certain members of Nabors’ management team and board members. Simultaneously with the closing of the IPO, NETC II completed the private sale of an aggregate of 9,540,000 warrants for an aggregate value of $ 9.5 million and issued unsecured promissory notes for an aggregate amount of $ 3.1 million. As part of the initial public offering of NETC II and subsequent private placement warrant transactions, $ 308.1 million was deposited in a Trust Account on July 18, 2023. As of December 31, 2024 and 2023, the Trust Account balance was $ 331.8 million and $ 315.5 million, respectively. | text | 331.8 | monetaryItemType | text: <entity> 331.8 </entity> <entity type> monetaryItemType </entity type> <context> In July 2023, NETC II co-sponsored by Nabors and Greens Road Energy II LLC, completed its initial public offering of 30,500,000 units at $ 10.00 per unit, generating gross proceeds of approximately $ 305.0 million. Greens Road Energy II LLC is owned by certain members of Nabors’ management team and board members. Simultaneously with the closing of the IPO, NETC II completed the private sale of an aggregate of 9,540,000 warrants for an aggregate value of $ 9.5 million and issued unsecured promissory notes for an aggregate amount of $ 3.1 million. As part of the initial public offering of NETC II and subsequent private placement warrant transactions, $ 308.1 million was deposited in a Trust Account on July 18, 2023. As of December 31, 2024 and 2023, the Trust Account balance was $ 331.8 million and $ 315.5 million, respectively. </context> | us-gaap:AssetsHeldInTrustNoncurrent |
In July 2023, NETC II co-sponsored by Nabors and Greens Road Energy II LLC, completed its initial public offering of 30,500,000 units at $ 10.00 per unit, generating gross proceeds of approximately $ 305.0 million. Greens Road Energy II LLC is owned by certain members of Nabors’ management team and board members. Simultaneously with the closing of the IPO, NETC II completed the private sale of an aggregate of 9,540,000 warrants for an aggregate value of $ 9.5 million and issued unsecured promissory notes for an aggregate amount of $ 3.1 million. As part of the initial public offering of NETC II and subsequent private placement warrant transactions, $ 308.1 million was deposited in a Trust Account on July 18, 2023. As of December 31, 2024 and 2023, the Trust Account balance was $ 331.8 million and $ 315.5 million, respectively. | text | 315.5 | monetaryItemType | text: <entity> 315.5 </entity> <entity type> monetaryItemType </entity type> <context> In July 2023, NETC II co-sponsored by Nabors and Greens Road Energy II LLC, completed its initial public offering of 30,500,000 units at $ 10.00 per unit, generating gross proceeds of approximately $ 305.0 million. Greens Road Energy II LLC is owned by certain members of Nabors’ management team and board members. Simultaneously with the closing of the IPO, NETC II completed the private sale of an aggregate of 9,540,000 warrants for an aggregate value of $ 9.5 million and issued unsecured promissory notes for an aggregate amount of $ 3.1 million. As part of the initial public offering of NETC II and subsequent private placement warrant transactions, $ 308.1 million was deposited in a Trust Account on July 18, 2023. As of December 31, 2024 and 2023, the Trust Account balance was $ 331.8 million and $ 315.5 million, respectively. </context> | us-gaap:AssetsHeldInTrustNoncurrent |
Approximately $ 331.8 million and $ 315.5 million of non-controlling interest subject to possible redemption is presented at full redemption value as temporary equity, outside of the stockholders’ equity section in the accompanying consolidated financial statements as of December 31, 2024 and 2023, respectively. | text | 331.8 | monetaryItemType | text: <entity> 331.8 </entity> <entity type> monetaryItemType </entity type> <context> Approximately $ 331.8 million and $ 315.5 million of non-controlling interest subject to possible redemption is presented at full redemption value as temporary equity, outside of the stockholders’ equity section in the accompanying consolidated financial statements as of December 31, 2024 and 2023, respectively. </context> | us-gaap:RedeemableNoncontrollingInterestEquityCarryingAmount |
Approximately $ 331.8 million and $ 315.5 million of non-controlling interest subject to possible redemption is presented at full redemption value as temporary equity, outside of the stockholders’ equity section in the accompanying consolidated financial statements as of December 31, 2024 and 2023, respectively. | text | 315.5 | monetaryItemType | text: <entity> 315.5 </entity> <entity type> monetaryItemType </entity type> <context> Approximately $ 331.8 million and $ 315.5 million of non-controlling interest subject to possible redemption is presented at full redemption value as temporary equity, outside of the stockholders’ equity section in the accompanying consolidated financial statements as of December 31, 2024 and 2023, respectively. </context> | us-gaap:RedeemableNoncontrollingInterestEquityCarryingAmount |
The Company is the sole general partner of the Operating Partnership. As of December 31, 2024, the Company owned all of the Preferred Units and 107.2 million, or 98.0 %, of the Common Units in the Operating Partnership. Limited partners owned the remaining 2.2 million Common Units. In the event the Company issues shares of Common Stock, the net proceeds of the issuance are contributed to the Operating Partnership in exchange for additional Common Units. Generally, the Operating Partnership is obligated to redeem each Common Unit at the request of the unitholder for cash equal to the value of one share of Common Stock based on the average of the market price for the 10 trading days immediately preceding the notice date of such redemption, provided that the Company, at its option, may elect to acquire any such Common Units presented for redemption for cash or one share of Common Stock. The Common Units owned by the Company are not redeemable. During 2024, the Company redeemed 5,385 Common Units for a like number of shares of Common Stock. | text | 5385 | sharesItemType | text: <entity> 5385 </entity> <entity type> sharesItemType </entity type> <context> The Company is the sole general partner of the Operating Partnership. As of December 31, 2024, the Company owned all of the Preferred Units and 107.2 million, or 98.0 %, of the Common Units in the Operating Partnership. Limited partners owned the remaining 2.2 million Common Units. In the event the Company issues shares of Common Stock, the net proceeds of the issuance are contributed to the Operating Partnership in exchange for additional Common Units. Generally, the Operating Partnership is obligated to redeem each Common Unit at the request of the unitholder for cash equal to the value of one share of Common Stock based on the average of the market price for the 10 trading days immediately preceding the notice date of such redemption, provided that the Company, at its option, may elect to acquire any such Common Units presented for redemption for cash or one share of Common Stock. The Common Units owned by the Company are not redeemable. During 2024, the Company redeemed 5,385 Common Units for a like number of shares of Common Stock. </context> | us-gaap:ConversionOfStockSharesConverted1 |
Real estate and related assets are recorded at cost and stated at cost less accumulated depreciation. Renovations, replacements and other expenditures that improve or extend the life of assets are capitalized and depreciated over their estimated useful lives. Expenditures for ordinary maintenance and repairs are charged to expense as incurred. Depreciation is computed using the straight-line method over the estimated useful life of 40 years for buildings and depreciable land infrastructure costs, 15 years for building improvements and five to seven years for furniture, fixtures and equipment. Tenant improvements are amortized using the straight-line method over the initial fixed terms of the respective leases, which generally range from three to 10 years. Depreciation expense for real estate assets was $ 256.0 million, $ 253.2 million and $ 240.3 million for the years ended December 31, 2024, 2023 and 2022, respectively. | text | 256.0 | monetaryItemType | text: <entity> 256.0 </entity> <entity type> monetaryItemType </entity type> <context> Real estate and related assets are recorded at cost and stated at cost less accumulated depreciation. Renovations, replacements and other expenditures that improve or extend the life of assets are capitalized and depreciated over their estimated useful lives. Expenditures for ordinary maintenance and repairs are charged to expense as incurred. Depreciation is computed using the straight-line method over the estimated useful life of 40 years for buildings and depreciable land infrastructure costs, 15 years for building improvements and five to seven years for furniture, fixtures and equipment. Tenant improvements are amortized using the straight-line method over the initial fixed terms of the respective leases, which generally range from three to 10 years. Depreciation expense for real estate assets was $ 256.0 million, $ 253.2 million and $ 240.3 million for the years ended December 31, 2024, 2023 and 2022, respectively. </context> | us-gaap:SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense |
Real estate and related assets are recorded at cost and stated at cost less accumulated depreciation. Renovations, replacements and other expenditures that improve or extend the life of assets are capitalized and depreciated over their estimated useful lives. Expenditures for ordinary maintenance and repairs are charged to expense as incurred. Depreciation is computed using the straight-line method over the estimated useful life of 40 years for buildings and depreciable land infrastructure costs, 15 years for building improvements and five to seven years for furniture, fixtures and equipment. Tenant improvements are amortized using the straight-line method over the initial fixed terms of the respective leases, which generally range from three to 10 years. Depreciation expense for real estate assets was $ 256.0 million, $ 253.2 million and $ 240.3 million for the years ended December 31, 2024, 2023 and 2022, respectively. | text | 253.2 | monetaryItemType | text: <entity> 253.2 </entity> <entity type> monetaryItemType </entity type> <context> Real estate and related assets are recorded at cost and stated at cost less accumulated depreciation. Renovations, replacements and other expenditures that improve or extend the life of assets are capitalized and depreciated over their estimated useful lives. Expenditures for ordinary maintenance and repairs are charged to expense as incurred. Depreciation is computed using the straight-line method over the estimated useful life of 40 years for buildings and depreciable land infrastructure costs, 15 years for building improvements and five to seven years for furniture, fixtures and equipment. Tenant improvements are amortized using the straight-line method over the initial fixed terms of the respective leases, which generally range from three to 10 years. Depreciation expense for real estate assets was $ 256.0 million, $ 253.2 million and $ 240.3 million for the years ended December 31, 2024, 2023 and 2022, respectively. </context> | us-gaap:SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense |
Real estate and related assets are recorded at cost and stated at cost less accumulated depreciation. Renovations, replacements and other expenditures that improve or extend the life of assets are capitalized and depreciated over their estimated useful lives. Expenditures for ordinary maintenance and repairs are charged to expense as incurred. Depreciation is computed using the straight-line method over the estimated useful life of 40 years for buildings and depreciable land infrastructure costs, 15 years for building improvements and five to seven years for furniture, fixtures and equipment. Tenant improvements are amortized using the straight-line method over the initial fixed terms of the respective leases, which generally range from three to 10 years. Depreciation expense for real estate assets was $ 256.0 million, $ 253.2 million and $ 240.3 million for the years ended December 31, 2024, 2023 and 2022, respectively. | text | 240.3 | monetaryItemType | text: <entity> 240.3 </entity> <entity type> monetaryItemType </entity type> <context> Real estate and related assets are recorded at cost and stated at cost less accumulated depreciation. Renovations, replacements and other expenditures that improve or extend the life of assets are capitalized and depreciated over their estimated useful lives. Expenditures for ordinary maintenance and repairs are charged to expense as incurred. Depreciation is computed using the straight-line method over the estimated useful life of 40 years for buildings and depreciable land infrastructure costs, 15 years for building improvements and five to seven years for furniture, fixtures and equipment. Tenant improvements are amortized using the straight-line method over the initial fixed terms of the respective leases, which generally range from three to 10 years. Depreciation expense for real estate assets was $ 256.0 million, $ 253.2 million and $ 240.3 million for the years ended December 31, 2024, 2023 and 2022, respectively. </context> | us-gaap:SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense |
We recognized rental and other revenues related to operating lease payments of $ 811.6 million, $ 819.9 million and $ 816.3 million, of which variable lease payments were $ 75.3 million, $ 72.9 million and $ 69.8 million, during the years ended December 31, 2024, 2023 and 2022, respectively. The following table sets forth the undiscounted cash flows for future minimum base rents to be received from customers for leases in effect as of December 31, 2024 for our consolidated properties: | text | 811.6 | monetaryItemType | text: <entity> 811.6 </entity> <entity type> monetaryItemType </entity type> <context> We recognized rental and other revenues related to operating lease payments of $ 811.6 million, $ 819.9 million and $ 816.3 million, of which variable lease payments were $ 75.3 million, $ 72.9 million and $ 69.8 million, during the years ended December 31, 2024, 2023 and 2022, respectively. The following table sets forth the undiscounted cash flows for future minimum base rents to be received from customers for leases in effect as of December 31, 2024 for our consolidated properties: </context> | us-gaap:OperatingLeaseLeaseIncome |
We recognized rental and other revenues related to operating lease payments of $ 811.6 million, $ 819.9 million and $ 816.3 million, of which variable lease payments were $ 75.3 million, $ 72.9 million and $ 69.8 million, during the years ended December 31, 2024, 2023 and 2022, respectively. The following table sets forth the undiscounted cash flows for future minimum base rents to be received from customers for leases in effect as of December 31, 2024 for our consolidated properties: | text | 819.9 | monetaryItemType | text: <entity> 819.9 </entity> <entity type> monetaryItemType </entity type> <context> We recognized rental and other revenues related to operating lease payments of $ 811.6 million, $ 819.9 million and $ 816.3 million, of which variable lease payments were $ 75.3 million, $ 72.9 million and $ 69.8 million, during the years ended December 31, 2024, 2023 and 2022, respectively. The following table sets forth the undiscounted cash flows for future minimum base rents to be received from customers for leases in effect as of December 31, 2024 for our consolidated properties: </context> | us-gaap:OperatingLeaseLeaseIncome |
We recognized rental and other revenues related to operating lease payments of $ 811.6 million, $ 819.9 million and $ 816.3 million, of which variable lease payments were $ 75.3 million, $ 72.9 million and $ 69.8 million, during the years ended December 31, 2024, 2023 and 2022, respectively. The following table sets forth the undiscounted cash flows for future minimum base rents to be received from customers for leases in effect as of December 31, 2024 for our consolidated properties: | text | 816.3 | monetaryItemType | text: <entity> 816.3 </entity> <entity type> monetaryItemType </entity type> <context> We recognized rental and other revenues related to operating lease payments of $ 811.6 million, $ 819.9 million and $ 816.3 million, of which variable lease payments were $ 75.3 million, $ 72.9 million and $ 69.8 million, during the years ended December 31, 2024, 2023 and 2022, respectively. The following table sets forth the undiscounted cash flows for future minimum base rents to be received from customers for leases in effect as of December 31, 2024 for our consolidated properties: </context> | us-gaap:OperatingLeaseLeaseIncome |
We recognized rental and other revenues related to operating lease payments of $ 811.6 million, $ 819.9 million and $ 816.3 million, of which variable lease payments were $ 75.3 million, $ 72.9 million and $ 69.8 million, during the years ended December 31, 2024, 2023 and 2022, respectively. The following table sets forth the undiscounted cash flows for future minimum base rents to be received from customers for leases in effect as of December 31, 2024 for our consolidated properties: | text | 75.3 | monetaryItemType | text: <entity> 75.3 </entity> <entity type> monetaryItemType </entity type> <context> We recognized rental and other revenues related to operating lease payments of $ 811.6 million, $ 819.9 million and $ 816.3 million, of which variable lease payments were $ 75.3 million, $ 72.9 million and $ 69.8 million, during the years ended December 31, 2024, 2023 and 2022, respectively. The following table sets forth the undiscounted cash flows for future minimum base rents to be received from customers for leases in effect as of December 31, 2024 for our consolidated properties: </context> | us-gaap:VariableLeaseIncome |
We recognized rental and other revenues related to operating lease payments of $ 811.6 million, $ 819.9 million and $ 816.3 million, of which variable lease payments were $ 75.3 million, $ 72.9 million and $ 69.8 million, during the years ended December 31, 2024, 2023 and 2022, respectively. The following table sets forth the undiscounted cash flows for future minimum base rents to be received from customers for leases in effect as of December 31, 2024 for our consolidated properties: | text | 72.9 | monetaryItemType | text: <entity> 72.9 </entity> <entity type> monetaryItemType </entity type> <context> We recognized rental and other revenues related to operating lease payments of $ 811.6 million, $ 819.9 million and $ 816.3 million, of which variable lease payments were $ 75.3 million, $ 72.9 million and $ 69.8 million, during the years ended December 31, 2024, 2023 and 2022, respectively. The following table sets forth the undiscounted cash flows for future minimum base rents to be received from customers for leases in effect as of December 31, 2024 for our consolidated properties: </context> | us-gaap:VariableLeaseIncome |
We recognized rental and other revenues related to operating lease payments of $ 811.6 million, $ 819.9 million and $ 816.3 million, of which variable lease payments were $ 75.3 million, $ 72.9 million and $ 69.8 million, during the years ended December 31, 2024, 2023 and 2022, respectively. The following table sets forth the undiscounted cash flows for future minimum base rents to be received from customers for leases in effect as of December 31, 2024 for our consolidated properties: | text | 69.8 | monetaryItemType | text: <entity> 69.8 </entity> <entity type> monetaryItemType </entity type> <context> We recognized rental and other revenues related to operating lease payments of $ 811.6 million, $ 819.9 million and $ 816.3 million, of which variable lease payments were $ 75.3 million, $ 72.9 million and $ 69.8 million, during the years ended December 31, 2024, 2023 and 2022, respectively. The following table sets forth the undiscounted cash flows for future minimum base rents to be received from customers for leases in effect as of December 31, 2024 for our consolidated properties: </context> | us-gaap:VariableLeaseIncome |
We have office assets encompassing 1.2 million rentable square feet subject to operating ground leases in Nashville, Orlando, Raleigh and Tampa with a weighted average remaining term of 50 years. Rental payments on these leases are adjusted periodically based on either the CPI or on a pre-determined schedule. The monthly payments on a pre-determined schedule are recognized on a straight-line basis over the terms of the respective leases. Changes in the CPI are not estimated as part of our measurement of straight-line rental expense. We recognized $ 2.6 million of ground lease expense during each of the years ended December 31, 2024, 2023, and 2022, and we paid $ 2.5 million, $ 2.4 million and $ 2.4 million in cash during 2024, 2023 and 2022, respectively | text | 2.5 | monetaryItemType | text: <entity> 2.5 </entity> <entity type> monetaryItemType </entity type> <context> We have office assets encompassing 1.2 million rentable square feet subject to operating ground leases in Nashville, Orlando, Raleigh and Tampa with a weighted average remaining term of 50 years. Rental payments on these leases are adjusted periodically based on either the CPI or on a pre-determined schedule. The monthly payments on a pre-determined schedule are recognized on a straight-line basis over the terms of the respective leases. Changes in the CPI are not estimated as part of our measurement of straight-line rental expense. We recognized $ 2.6 million of ground lease expense during each of the years ended December 31, 2024, 2023, and 2022, and we paid $ 2.5 million, $ 2.4 million and $ 2.4 million in cash during 2024, 2023 and 2022, respectively </context> | us-gaap:OperatingLeasePayments |
We have office assets encompassing 1.2 million rentable square feet subject to operating ground leases in Nashville, Orlando, Raleigh and Tampa with a weighted average remaining term of 50 years. Rental payments on these leases are adjusted periodically based on either the CPI or on a pre-determined schedule. The monthly payments on a pre-determined schedule are recognized on a straight-line basis over the terms of the respective leases. Changes in the CPI are not estimated as part of our measurement of straight-line rental expense. We recognized $ 2.6 million of ground lease expense during each of the years ended December 31, 2024, 2023, and 2022, and we paid $ 2.5 million, $ 2.4 million and $ 2.4 million in cash during 2024, 2023 and 2022, respectively | text | 2.4 | monetaryItemType | text: <entity> 2.4 </entity> <entity type> monetaryItemType </entity type> <context> We have office assets encompassing 1.2 million rentable square feet subject to operating ground leases in Nashville, Orlando, Raleigh and Tampa with a weighted average remaining term of 50 years. Rental payments on these leases are adjusted periodically based on either the CPI or on a pre-determined schedule. The monthly payments on a pre-determined schedule are recognized on a straight-line basis over the terms of the respective leases. Changes in the CPI are not estimated as part of our measurement of straight-line rental expense. We recognized $ 2.6 million of ground lease expense during each of the years ended December 31, 2024, 2023, and 2022, and we paid $ 2.5 million, $ 2.4 million and $ 2.4 million in cash during 2024, 2023 and 2022, respectively </context> | us-gaap:OperatingLeasePayments |
During 2024, we acquired fee simple title to the land underneath our Century Center assets in Atlanta for a purchase price, including capitalized acquisition costs, of $ 50.8 million. We previously held most of our buildings in Century Center, a 12 -building office park encompassing 1.7 million square feet and 13 acres of developable land, pursuant to a long-term ground lease with a third party who owned fee simple title to the land. | text | 50.8 | monetaryItemType | text: <entity> 50.8 </entity> <entity type> monetaryItemType </entity type> <context> During 2024, we acquired fee simple title to the land underneath our Century Center assets in Atlanta for a purchase price, including capitalized acquisition costs, of $ 50.8 million. We previously held most of our buildings in Century Center, a 12 -building office park encompassing 1.7 million square feet and 13 acres of developable land, pursuant to a long-term ground lease with a third party who owned fee simple title to the land. </context> | us-gaap:PropertyPlantAndEquipmentAdditions |
During 2023, we acquired land in Raleigh for a purchase price, including capitalized acquisition costs, of $ 2.7 million. | text | 2.7 | monetaryItemType | text: <entity> 2.7 </entity> <entity type> monetaryItemType </entity type> <context> During 2023, we acquired land in Raleigh for a purchase price, including capitalized acquisition costs, of $ 2.7 million. </context> | us-gaap:PropertyPlantAndEquipmentAdditions |
During 2022, we acquired SIX50 at Legacy Union, a 367,000 square foot trophy office building in Charlotte’s Uptown CBD submarket, for a net purchase price of $ 198.0 million. The assets acquired and liabilities assumed were recorded at relative fair value as determined by management, with the assistance of third party specialists, based on information available at the acquisition date and on current assumptions as to future operations. | text | 198.0 | monetaryItemType | text: <entity> 198.0 </entity> <entity type> monetaryItemType </entity type> <context> During 2022, we acquired SIX50 at Legacy Union, a 367,000 square foot trophy office building in Charlotte’s Uptown CBD submarket, for a net purchase price of $ 198.0 million. The assets acquired and liabilities assumed were recorded at relative fair value as determined by management, with the assistance of third party specialists, based on information available at the acquisition date and on current assumptions as to future operations. </context> | us-gaap:PropertyPlantAndEquipmentAdditions |
During 2022, we also acquired land in Charlotte for an aggregate purchase price, including capitalized acquisition costs, of $ 27.0 million. | text | 27.0 | monetaryItemType | text: <entity> 27.0 </entity> <entity type> monetaryItemType </entity type> <context> During 2022, we also acquired land in Charlotte for an aggregate purchase price, including capitalized acquisition costs, of $ 27.0 million. </context> | us-gaap:PropertyPlantAndEquipmentAdditions |
During 2024, we sold a total of 10 buildings in Raleigh and land in Greensboro for an aggregate sales price of $ 105.3 million and recorded aggregate gains on disposition of property of $ 46.8 million. The land sale completed our exit from the Greensboro market. | text | 46.8 | monetaryItemType | text: <entity> 46.8 </entity> <entity type> monetaryItemType </entity type> <context> During 2024, we sold a total of 10 buildings in Raleigh and land in Greensboro for an aggregate sales price of $ 105.3 million and recorded aggregate gains on disposition of property of $ 46.8 million. The land sale completed our exit from the Greensboro market. </context> | us-gaap:GainLossOnDispositionOfAssets |
During 2023, we sold a total of four buildings and various land parcels in Nashville, Raleigh and Tampa for an aggregate sales price of $ 103.8 million and recorded aggregate gains on disposition of property of $ 47.8 million. | text | 47.8 | monetaryItemType | text: <entity> 47.8 </entity> <entity type> monetaryItemType </entity type> <context> During 2023, we sold a total of four buildings and various land parcels in Nashville, Raleigh and Tampa for an aggregate sales price of $ 103.8 million and recorded aggregate gains on disposition of property of $ 47.8 million. </context> | us-gaap:GainLossOnDispositionOfAssets |
During 2022, we sold a total of five office buildings and various land parcels in Atlanta, Greensboro, Richmond and Tampa for an aggregate sales price of $ 133.5 million (before closing credits to buyers of $ 1.1 million) and recorded aggregate gains on disposition of property of $ 63.5 million. | text | 63.5 | monetaryItemType | text: <entity> 63.5 </entity> <entity type> monetaryItemType </entity type> <context> During 2022, we sold a total of five office buildings and various land parcels in Atlanta, Greensboro, Richmond and Tampa for an aggregate sales price of $ 133.5 million (before closing credits to buyers of $ 1.1 million) and recorded aggregate gains on disposition of property of $ 63.5 million. </context> | us-gaap:GainLossOnDispositionOfAssets |
During 2023, we sold a land parcel in Tampa for an aggregate sales price of $ 21.0 million. In connection with this disposition, we received cash of $ 2.0 million and provided $ 19.0 million of non-recourse seller financing in the form of a two-year , interest-only first mortgage that bears interest at SOFR plus 100 basis points. We have deemed repayment of the mortgage to be not probable primarily because the seller financing represents a significant portion of the aggregate sales price and, since the seller financing is non-recourse, our only remedy in the event of a default would be to foreclose on the asset. As a result, the disposition does not meet the contract criteria to be recognized as a sale. Until such time as the contract criteria are met, we will continue to account for the land parcel as land held for development on our Consolidated Balance Sheets, and the mortgage associated with the seller financing will not be recorded on our Consolidated Balance Sheets. The cash received at closing is recorded as a nonrefundable deposit in accounts payable, accrued expenses and other liabilities on our Consolidated Balance Sheets. | text | 2.0 | monetaryItemType | text: <entity> 2.0 </entity> <entity type> monetaryItemType </entity type> <context> During 2023, we sold a land parcel in Tampa for an aggregate sales price of $ 21.0 million. In connection with this disposition, we received cash of $ 2.0 million and provided $ 19.0 million of non-recourse seller financing in the form of a two-year , interest-only first mortgage that bears interest at SOFR plus 100 basis points. We have deemed repayment of the mortgage to be not probable primarily because the seller financing represents a significant portion of the aggregate sales price and, since the seller financing is non-recourse, our only remedy in the event of a default would be to foreclose on the asset. As a result, the disposition does not meet the contract criteria to be recognized as a sale. Until such time as the contract criteria are met, we will continue to account for the land parcel as land held for development on our Consolidated Balance Sheets, and the mortgage associated with the seller financing will not be recorded on our Consolidated Balance Sheets. The cash received at closing is recorded as a nonrefundable deposit in accounts payable, accrued expenses and other liabilities on our Consolidated Balance Sheets. </context> | us-gaap:ProceedsFromSaleOfRealEstate |
During 2023, we sold a land parcel in Tampa for an aggregate sales price of $ 21.0 million. In connection with this disposition, we received cash of $ 2.0 million and provided $ 19.0 million of non-recourse seller financing in the form of a two-year , interest-only first mortgage that bears interest at SOFR plus 100 basis points. We have deemed repayment of the mortgage to be not probable primarily because the seller financing represents a significant portion of the aggregate sales price and, since the seller financing is non-recourse, our only remedy in the event of a default would be to foreclose on the asset. As a result, the disposition does not meet the contract criteria to be recognized as a sale. Until such time as the contract criteria are met, we will continue to account for the land parcel as land held for development on our Consolidated Balance Sheets, and the mortgage associated with the seller financing will not be recorded on our Consolidated Balance Sheets. The cash received at closing is recorded as a nonrefundable deposit in accounts payable, accrued expenses and other liabilities on our Consolidated Balance Sheets. | text | 19.0 | monetaryItemType | text: <entity> 19.0 </entity> <entity type> monetaryItemType </entity type> <context> During 2023, we sold a land parcel in Tampa for an aggregate sales price of $ 21.0 million. In connection with this disposition, we received cash of $ 2.0 million and provided $ 19.0 million of non-recourse seller financing in the form of a two-year , interest-only first mortgage that bears interest at SOFR plus 100 basis points. We have deemed repayment of the mortgage to be not probable primarily because the seller financing represents a significant portion of the aggregate sales price and, since the seller financing is non-recourse, our only remedy in the event of a default would be to foreclose on the asset. As a result, the disposition does not meet the contract criteria to be recognized as a sale. Until such time as the contract criteria are met, we will continue to account for the land parcel as land held for development on our Consolidated Balance Sheets, and the mortgage associated with the seller financing will not be recorded on our Consolidated Balance Sheets. The cash received at closing is recorded as a nonrefundable deposit in accounts payable, accrued expenses and other liabilities on our Consolidated Balance Sheets. </context> | us-gaap:NotesReceivableGross |
During 2023, we sold a land parcel in Tampa for an aggregate sales price of $ 21.0 million. In connection with this disposition, we received cash of $ 2.0 million and provided $ 19.0 million of non-recourse seller financing in the form of a two-year , interest-only first mortgage that bears interest at SOFR plus 100 basis points. We have deemed repayment of the mortgage to be not probable primarily because the seller financing represents a significant portion of the aggregate sales price and, since the seller financing is non-recourse, our only remedy in the event of a default would be to foreclose on the asset. As a result, the disposition does not meet the contract criteria to be recognized as a sale. Until such time as the contract criteria are met, we will continue to account for the land parcel as land held for development on our Consolidated Balance Sheets, and the mortgage associated with the seller financing will not be recorded on our Consolidated Balance Sheets. The cash received at closing is recorded as a nonrefundable deposit in accounts payable, accrued expenses and other liabilities on our Consolidated Balance Sheets. | text | 100 | percentItemType | text: <entity> 100 </entity> <entity type> percentItemType </entity type> <context> During 2023, we sold a land parcel in Tampa for an aggregate sales price of $ 21.0 million. In connection with this disposition, we received cash of $ 2.0 million and provided $ 19.0 million of non-recourse seller financing in the form of a two-year , interest-only first mortgage that bears interest at SOFR plus 100 basis points. We have deemed repayment of the mortgage to be not probable primarily because the seller financing represents a significant portion of the aggregate sales price and, since the seller financing is non-recourse, our only remedy in the event of a default would be to foreclose on the asset. As a result, the disposition does not meet the contract criteria to be recognized as a sale. Until such time as the contract criteria are met, we will continue to account for the land parcel as land held for development on our Consolidated Balance Sheets, and the mortgage associated with the seller financing will not be recorded on our Consolidated Balance Sheets. The cash received at closing is recorded as a nonrefundable deposit in accounts payable, accrued expenses and other liabilities on our Consolidated Balance Sheets. </context> | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
During 2024, we recorded an impairment charge of $ 24.6 million to lower the carrying amount of EQT Plaza, a 616,000 square foot non-core building in CBD Pittsburgh, to its estimated fair value. | text | 24.6 | monetaryItemType | text: <entity> 24.6 </entity> <entity type> monetaryItemType </entity type> <context> During 2024, we recorded an impairment charge of $ 24.6 million to lower the carrying amount of EQT Plaza, a 616,000 square foot non-core building in CBD Pittsburgh, to its estimated fair value. </context> | us-gaap:ImpairmentOfLongLivedAssetsHeldForUse |
During the third quarter of 2022, we recorded an impairment charge of $ 1.5 million to lower the carrying amount of a land parcel to its estimated fair value; and | text | 1.5 | monetaryItemType | text: <entity> 1.5 </entity> <entity type> monetaryItemType </entity type> <context> During the third quarter of 2022, we recorded an impairment charge of $ 1.5 million to lower the carrying amount of a land parcel to its estimated fair value; and </context> | us-gaap:ImpairmentOfLongLivedAssetsHeldForUse |
We have equity interests of up to 50.0 % in various joint ventures with unrelated third parties that are accounted for using the equity method of accounting because we have the ability to exercise significant influence over the operating and financial policies of the joint venture investment. The difference between the cost of these investments and the net book value of the underlying net assets was $ 21.3 million and $ 18.9 million as of December 31, 2024 and 2023, respectively. | text | 21.3 | monetaryItemType | text: <entity> 21.3 </entity> <entity type> monetaryItemType </entity type> <context> We have equity interests of up to 50.0 % in various joint ventures with unrelated third parties that are accounted for using the equity method of accounting because we have the ability to exercise significant influence over the operating and financial policies of the joint venture investment. The difference between the cost of these investments and the net book value of the underlying net assets was $ 21.3 million and $ 18.9 million as of December 31, 2024 and 2023, respectively. </context> | us-gaap:EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity |
We have equity interests of up to 50.0 % in various joint ventures with unrelated third parties that are accounted for using the equity method of accounting because we have the ability to exercise significant influence over the operating and financial policies of the joint venture investment. The difference between the cost of these investments and the net book value of the underlying net assets was $ 21.3 million and $ 18.9 million as of December 31, 2024 and 2023, respectively. | text | 18.9 | monetaryItemType | text: <entity> 18.9 </entity> <entity type> monetaryItemType </entity type> <context> We have equity interests of up to 50.0 % in various joint ventures with unrelated third parties that are accounted for using the equity method of accounting because we have the ability to exercise significant influence over the operating and financial policies of the joint venture investment. The difference between the cost of these investments and the net book value of the underlying net assets was $ 21.3 million and $ 18.9 million as of December 31, 2024 and 2023, respectively. </context> | us-gaap:EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity |
In 1999, we formed a joint venture with Markel Corporation in which we own a 50.0 % interest. The Markel joint venture was consolidated as of December 31, 2022 because we controlled the major operating and financial policies of the entity. Effective January 1, 2023, the agreement governing the joint venture was modified to require the consent of both partners for major operating and financial policies of the entity. As a result, the Markel joint venture was deconsolidated effective January 1, 2023, and this joint venture is now accounted for using the equity method of accounting. We recognized a gain on deconsolidation of $ 11.8 million related to adjusting our retained interest in the joint venture to fair value. The assets of the Markel joint venture can only be used to settle obligations of the joint venture, and its creditors have no recourse to our wholly owned assets. | text | 11.8 | monetaryItemType | text: <entity> 11.8 </entity> <entity type> monetaryItemType </entity type> <context> In 1999, we formed a joint venture with Markel Corporation in which we own a 50.0 % interest. The Markel joint venture was consolidated as of December 31, 2022 because we controlled the major operating and financial policies of the entity. Effective January 1, 2023, the agreement governing the joint venture was modified to require the consent of both partners for major operating and financial policies of the entity. As a result, the Markel joint venture was deconsolidated effective January 1, 2023, and this joint venture is now accounted for using the equity method of accounting. We recognized a gain on deconsolidation of $ 11.8 million related to adjusting our retained interest in the joint venture to fair value. The assets of the Markel joint venture can only be used to settle obligations of the joint venture, and its creditors have no recourse to our wholly owned assets. </context> | us-gaap:DeconsolidationGainOrLossAmount |
The Granite Park Six joint venture obtained a construction loan for $ 115.0 million, with an interest rate of SOFR plus 394 basis points and a maturity date of January 2026. In connection with this loan, the Granite Park Six joint venture obtained interest rate hedge contracts that effectively cap the underlying SOFR rate at 3.5 %. The initial contract capped the rate with respect to $ 95.2 million of any outstanding amounts and expired in July 2024. The new contract caps the rate with respect to $ 38.8 million of any outstanding amounts and expires in July 2025. During 2024, we and Granite each contributed $ 35.5 | text | 115.0 | monetaryItemType | text: <entity> 115.0 </entity> <entity type> monetaryItemType </entity type> <context> The Granite Park Six joint venture obtained a construction loan for $ 115.0 million, with an interest rate of SOFR plus 394 basis points and a maturity date of January 2026. In connection with this loan, the Granite Park Six joint venture obtained interest rate hedge contracts that effectively cap the underlying SOFR rate at 3.5 %. The initial contract capped the rate with respect to $ 95.2 million of any outstanding amounts and expired in July 2024. The new contract caps the rate with respect to $ 38.8 million of any outstanding amounts and expires in July 2025. During 2024, we and Granite each contributed $ 35.5 </context> | us-gaap:LongtermConstructionLoanCurrentAndNoncurrent |
The Granite Park Six joint venture obtained a construction loan for $ 115.0 million, with an interest rate of SOFR plus 394 basis points and a maturity date of January 2026. In connection with this loan, the Granite Park Six joint venture obtained interest rate hedge contracts that effectively cap the underlying SOFR rate at 3.5 %. The initial contract capped the rate with respect to $ 95.2 million of any outstanding amounts and expired in July 2024. The new contract caps the rate with respect to $ 38.8 million of any outstanding amounts and expires in July 2025. During 2024, we and Granite each contributed $ 35.5 | text | 394 | percentItemType | text: <entity> 394 </entity> <entity type> percentItemType </entity type> <context> The Granite Park Six joint venture obtained a construction loan for $ 115.0 million, with an interest rate of SOFR plus 394 basis points and a maturity date of January 2026. In connection with this loan, the Granite Park Six joint venture obtained interest rate hedge contracts that effectively cap the underlying SOFR rate at 3.5 %. The initial contract capped the rate with respect to $ 95.2 million of any outstanding amounts and expired in July 2024. The new contract caps the rate with respect to $ 38.8 million of any outstanding amounts and expires in July 2025. During 2024, we and Granite each contributed $ 35.5 </context> | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
The Granite Park Six joint venture obtained a construction loan for $ 115.0 million, with an interest rate of SOFR plus 394 basis points and a maturity date of January 2026. In connection with this loan, the Granite Park Six joint venture obtained interest rate hedge contracts that effectively cap the underlying SOFR rate at 3.5 %. The initial contract capped the rate with respect to $ 95.2 million of any outstanding amounts and expired in July 2024. The new contract caps the rate with respect to $ 38.8 million of any outstanding amounts and expires in July 2025. During 2024, we and Granite each contributed $ 35.5 | text | 3.5 | percentItemType | text: <entity> 3.5 </entity> <entity type> percentItemType </entity type> <context> The Granite Park Six joint venture obtained a construction loan for $ 115.0 million, with an interest rate of SOFR plus 394 basis points and a maturity date of January 2026. In connection with this loan, the Granite Park Six joint venture obtained interest rate hedge contracts that effectively cap the underlying SOFR rate at 3.5 %. The initial contract capped the rate with respect to $ 95.2 million of any outstanding amounts and expired in July 2024. The new contract caps the rate with respect to $ 38.8 million of any outstanding amounts and expires in July 2025. During 2024, we and Granite each contributed $ 35.5 </context> | us-gaap:DerivativeCapInterestRate |
The Granite Park Six joint venture obtained a construction loan for $ 115.0 million, with an interest rate of SOFR plus 394 basis points and a maturity date of January 2026. In connection with this loan, the Granite Park Six joint venture obtained interest rate hedge contracts that effectively cap the underlying SOFR rate at 3.5 %. The initial contract capped the rate with respect to $ 95.2 million of any outstanding amounts and expired in July 2024. The new contract caps the rate with respect to $ 38.8 million of any outstanding amounts and expires in July 2025. During 2024, we and Granite each contributed $ 35.5 | text | 95.2 | monetaryItemType | text: <entity> 95.2 </entity> <entity type> monetaryItemType </entity type> <context> The Granite Park Six joint venture obtained a construction loan for $ 115.0 million, with an interest rate of SOFR plus 394 basis points and a maturity date of January 2026. In connection with this loan, the Granite Park Six joint venture obtained interest rate hedge contracts that effectively cap the underlying SOFR rate at 3.5 %. The initial contract capped the rate with respect to $ 95.2 million of any outstanding amounts and expired in July 2024. The new contract caps the rate with respect to $ 38.8 million of any outstanding amounts and expires in July 2025. During 2024, we and Granite each contributed $ 35.5 </context> | us-gaap:DerivativeNotionalAmount |
The Granite Park Six joint venture obtained a construction loan for $ 115.0 million, with an interest rate of SOFR plus 394 basis points and a maturity date of January 2026. In connection with this loan, the Granite Park Six joint venture obtained interest rate hedge contracts that effectively cap the underlying SOFR rate at 3.5 %. The initial contract capped the rate with respect to $ 95.2 million of any outstanding amounts and expired in July 2024. The new contract caps the rate with respect to $ 38.8 million of any outstanding amounts and expires in July 2025. During 2024, we and Granite each contributed $ 35.5 | text | 38.8 | monetaryItemType | text: <entity> 38.8 </entity> <entity type> monetaryItemType </entity type> <context> The Granite Park Six joint venture obtained a construction loan for $ 115.0 million, with an interest rate of SOFR plus 394 basis points and a maturity date of January 2026. In connection with this loan, the Granite Park Six joint venture obtained interest rate hedge contracts that effectively cap the underlying SOFR rate at 3.5 %. The initial contract capped the rate with respect to $ 95.2 million of any outstanding amounts and expired in July 2024. The new contract caps the rate with respect to $ 38.8 million of any outstanding amounts and expires in July 2025. During 2024, we and Granite each contributed $ 35.5 </context> | us-gaap:DerivativeNotionalAmount |
million to the Granite Park Six joint venture to pay down the outstanding $ 70.9 million balance of the construction loan. This reconsideration event did not change our initial conclusion that the Granite Park Six joint venture is a variable interest entity of which we are not the primary beneficiary. As such, the entity remains unconsolidated. As of December 31, 2024, $ 1.9 million was drawn on this loan. | text | 70.9 | monetaryItemType | text: <entity> 70.9 </entity> <entity type> monetaryItemType </entity type> <context> million to the Granite Park Six joint venture to pay down the outstanding $ 70.9 million balance of the construction loan. This reconsideration event did not change our initial conclusion that the Granite Park Six joint venture is a variable interest entity of which we are not the primary beneficiary. As such, the entity remains unconsolidated. As of December 31, 2024, $ 1.9 million was drawn on this loan. </context> | us-gaap:LongtermConstructionLoanCurrentAndNoncurrent |
The 23Springs joint venture obtained a construction loan for $ 265.0 million, with an interest rate of SOFR plus 355 basis points and a maturity date of March 2026. In connection with this loan, the 23Springs joint venture obtained interest rate hedge contracts that effectively cap the underlying SOFR rate at 3.5 %. The initial contract capped the rate with respect to $ 83.0 million of any outstanding amounts and expired in April 2024. The new contract caps the rate with respect to $ 134.0 million of any outstanding amounts and expires in April 2025. As of December 31, 2024, $ 94.6 million was drawn on this loan. | text | 265.0 | monetaryItemType | text: <entity> 265.0 </entity> <entity type> monetaryItemType </entity type> <context> The 23Springs joint venture obtained a construction loan for $ 265.0 million, with an interest rate of SOFR plus 355 basis points and a maturity date of March 2026. In connection with this loan, the 23Springs joint venture obtained interest rate hedge contracts that effectively cap the underlying SOFR rate at 3.5 %. The initial contract capped the rate with respect to $ 83.0 million of any outstanding amounts and expired in April 2024. The new contract caps the rate with respect to $ 134.0 million of any outstanding amounts and expires in April 2025. As of December 31, 2024, $ 94.6 million was drawn on this loan. </context> | us-gaap:LongtermConstructionLoanCurrentAndNoncurrent |
The 23Springs joint venture obtained a construction loan for $ 265.0 million, with an interest rate of SOFR plus 355 basis points and a maturity date of March 2026. In connection with this loan, the 23Springs joint venture obtained interest rate hedge contracts that effectively cap the underlying SOFR rate at 3.5 %. The initial contract capped the rate with respect to $ 83.0 million of any outstanding amounts and expired in April 2024. The new contract caps the rate with respect to $ 134.0 million of any outstanding amounts and expires in April 2025. As of December 31, 2024, $ 94.6 million was drawn on this loan. | text | 355 | percentItemType | text: <entity> 355 </entity> <entity type> percentItemType </entity type> <context> The 23Springs joint venture obtained a construction loan for $ 265.0 million, with an interest rate of SOFR plus 355 basis points and a maturity date of March 2026. In connection with this loan, the 23Springs joint venture obtained interest rate hedge contracts that effectively cap the underlying SOFR rate at 3.5 %. The initial contract capped the rate with respect to $ 83.0 million of any outstanding amounts and expired in April 2024. The new contract caps the rate with respect to $ 134.0 million of any outstanding amounts and expires in April 2025. As of December 31, 2024, $ 94.6 million was drawn on this loan. </context> | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
The 23Springs joint venture obtained a construction loan for $ 265.0 million, with an interest rate of SOFR plus 355 basis points and a maturity date of March 2026. In connection with this loan, the 23Springs joint venture obtained interest rate hedge contracts that effectively cap the underlying SOFR rate at 3.5 %. The initial contract capped the rate with respect to $ 83.0 million of any outstanding amounts and expired in April 2024. The new contract caps the rate with respect to $ 134.0 million of any outstanding amounts and expires in April 2025. As of December 31, 2024, $ 94.6 million was drawn on this loan. | text | 3.5 | percentItemType | text: <entity> 3.5 </entity> <entity type> percentItemType </entity type> <context> The 23Springs joint venture obtained a construction loan for $ 265.0 million, with an interest rate of SOFR plus 355 basis points and a maturity date of March 2026. In connection with this loan, the 23Springs joint venture obtained interest rate hedge contracts that effectively cap the underlying SOFR rate at 3.5 %. The initial contract capped the rate with respect to $ 83.0 million of any outstanding amounts and expired in April 2024. The new contract caps the rate with respect to $ 134.0 million of any outstanding amounts and expires in April 2025. As of December 31, 2024, $ 94.6 million was drawn on this loan. </context> | us-gaap:DerivativeCapInterestRate |
The 23Springs joint venture obtained a construction loan for $ 265.0 million, with an interest rate of SOFR plus 355 basis points and a maturity date of March 2026. In connection with this loan, the 23Springs joint venture obtained interest rate hedge contracts that effectively cap the underlying SOFR rate at 3.5 %. The initial contract capped the rate with respect to $ 83.0 million of any outstanding amounts and expired in April 2024. The new contract caps the rate with respect to $ 134.0 million of any outstanding amounts and expires in April 2025. As of December 31, 2024, $ 94.6 million was drawn on this loan. | text | 83.0 | monetaryItemType | text: <entity> 83.0 </entity> <entity type> monetaryItemType </entity type> <context> The 23Springs joint venture obtained a construction loan for $ 265.0 million, with an interest rate of SOFR plus 355 basis points and a maturity date of March 2026. In connection with this loan, the 23Springs joint venture obtained interest rate hedge contracts that effectively cap the underlying SOFR rate at 3.5 %. The initial contract capped the rate with respect to $ 83.0 million of any outstanding amounts and expired in April 2024. The new contract caps the rate with respect to $ 134.0 million of any outstanding amounts and expires in April 2025. As of December 31, 2024, $ 94.6 million was drawn on this loan. </context> | us-gaap:DerivativeNotionalAmount |
The 23Springs joint venture obtained a construction loan for $ 265.0 million, with an interest rate of SOFR plus 355 basis points and a maturity date of March 2026. In connection with this loan, the 23Springs joint venture obtained interest rate hedge contracts that effectively cap the underlying SOFR rate at 3.5 %. The initial contract capped the rate with respect to $ 83.0 million of any outstanding amounts and expired in April 2024. The new contract caps the rate with respect to $ 134.0 million of any outstanding amounts and expires in April 2025. As of December 31, 2024, $ 94.6 million was drawn on this loan. | text | 134.0 | monetaryItemType | text: <entity> 134.0 </entity> <entity type> monetaryItemType </entity type> <context> The 23Springs joint venture obtained a construction loan for $ 265.0 million, with an interest rate of SOFR plus 355 basis points and a maturity date of March 2026. In connection with this loan, the 23Springs joint venture obtained interest rate hedge contracts that effectively cap the underlying SOFR rate at 3.5 %. The initial contract capped the rate with respect to $ 83.0 million of any outstanding amounts and expired in April 2024. The new contract caps the rate with respect to $ 134.0 million of any outstanding amounts and expires in April 2025. As of December 31, 2024, $ 94.6 million was drawn on this loan. </context> | us-gaap:DerivativeNotionalAmount |
During 2022, we expanded our Dallas market presence by acquiring McKinney & Olive through the formation of another joint venture with Granite in which we own a 50.0 % interest. As part of the transaction, the McKinney & Olive joint venture assumed a secured loan recorded at fair value of $ 137.0 million, with a stated interest rate of 4.5 % and an effective interest rate of 5.3 %. The remainder of the purchase price paid by the McKinney & Olive joint venture was funded with $ 80.0 million of short-term preferred equity contributed by us and $ 86.4 million of common equity contributed by each of Granite and us. | text | 137.0 | monetaryItemType | text: <entity> 137.0 </entity> <entity type> monetaryItemType </entity type> <context> During 2022, we expanded our Dallas market presence by acquiring McKinney & Olive through the formation of another joint venture with Granite in which we own a 50.0 % interest. As part of the transaction, the McKinney & Olive joint venture assumed a secured loan recorded at fair value of $ 137.0 million, with a stated interest rate of 4.5 % and an effective interest rate of 5.3 %. The remainder of the purchase price paid by the McKinney & Olive joint venture was funded with $ 80.0 million of short-term preferred equity contributed by us and $ 86.4 million of common equity contributed by each of Granite and us. </context> | us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFinancialLiabilities |
During 2022, we expanded our Dallas market presence by acquiring McKinney & Olive through the formation of another joint venture with Granite in which we own a 50.0 % interest. As part of the transaction, the McKinney & Olive joint venture assumed a secured loan recorded at fair value of $ 137.0 million, with a stated interest rate of 4.5 % and an effective interest rate of 5.3 %. The remainder of the purchase price paid by the McKinney & Olive joint venture was funded with $ 80.0 million of short-term preferred equity contributed by us and $ 86.4 million of common equity contributed by each of Granite and us. | text | 4.5 | percentItemType | text: <entity> 4.5 </entity> <entity type> percentItemType </entity type> <context> During 2022, we expanded our Dallas market presence by acquiring McKinney & Olive through the formation of another joint venture with Granite in which we own a 50.0 % interest. As part of the transaction, the McKinney & Olive joint venture assumed a secured loan recorded at fair value of $ 137.0 million, with a stated interest rate of 4.5 % and an effective interest rate of 5.3 %. The remainder of the purchase price paid by the McKinney & Olive joint venture was funded with $ 80.0 million of short-term preferred equity contributed by us and $ 86.4 million of common equity contributed by each of Granite and us. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
During 2022, we expanded our Dallas market presence by acquiring McKinney & Olive through the formation of another joint venture with Granite in which we own a 50.0 % interest. As part of the transaction, the McKinney & Olive joint venture assumed a secured loan recorded at fair value of $ 137.0 million, with a stated interest rate of 4.5 % and an effective interest rate of 5.3 %. The remainder of the purchase price paid by the McKinney & Olive joint venture was funded with $ 80.0 million of short-term preferred equity contributed by us and $ 86.4 million of common equity contributed by each of Granite and us. | text | 5.3 | percentItemType | text: <entity> 5.3 </entity> <entity type> percentItemType </entity type> <context> During 2022, we expanded our Dallas market presence by acquiring McKinney & Olive through the formation of another joint venture with Granite in which we own a 50.0 % interest. As part of the transaction, the McKinney & Olive joint venture assumed a secured loan recorded at fair value of $ 137.0 million, with a stated interest rate of 4.5 % and an effective interest rate of 5.3 %. The remainder of the purchase price paid by the McKinney & Olive joint venture was funded with $ 80.0 million of short-term preferred equity contributed by us and $ 86.4 million of common equity contributed by each of Granite and us. </context> | us-gaap:DebtInstrumentInterestRateEffectivePercentage |
During 2024, the McKinney & Olive joint venture paid off at maturity the remaining $ 134.3 million balance on the secured mortgage loan. In connection with this loan payoff, we and Granite each contributed $ 62.1 million to the joint venture. | text | 134.3 | monetaryItemType | text: <entity> 134.3 </entity> <entity type> monetaryItemType </entity type> <context> During 2024, the McKinney & Olive joint venture paid off at maturity the remaining $ 134.3 million balance on the secured mortgage loan. In connection with this loan payoff, we and Granite each contributed $ 62.1 million to the joint venture. </context> | us-gaap:DebtInstrumentFaceAmount |
During 2023, we and Granite each contributed an additional $ 40.0 million of common equity to the McKinney & Olive joint venture. Such proceeds were then used by the joint venture to redeem our $ 80.0 million short-term preferred equity investment in full. Prior to the redemption, we received monthly distributions on the preferred equity at a rate of SOFR plus 350 basis points. | text | 40.0 | monetaryItemType | text: <entity> 40.0 </entity> <entity type> monetaryItemType </entity type> <context> During 2023, we and Granite each contributed an additional $ 40.0 million of common equity to the McKinney & Olive joint venture. Such proceeds were then used by the joint venture to redeem our $ 80.0 million short-term preferred equity investment in full. Prior to the redemption, we received monthly distributions on the preferred equity at a rate of SOFR plus 350 basis points. </context> | us-gaap:PaymentsToAcquireEquityMethodInvestments |
During 2023, we and Granite each contributed an additional $ 40.0 million of common equity to the McKinney & Olive joint venture. Such proceeds were then used by the joint venture to redeem our $ 80.0 million short-term preferred equity investment in full. Prior to the redemption, we received monthly distributions on the preferred equity at a rate of SOFR plus 350 basis points. | text | 350 | percentItemType | text: <entity> 350 </entity> <entity type> percentItemType </entity type> <context> During 2023, we and Granite each contributed an additional $ 40.0 million of common equity to the McKinney & Olive joint venture. Such proceeds were then used by the joint venture to redeem our $ 80.0 million short-term preferred equity investment in full. Prior to the redemption, we received monthly distributions on the preferred equity at a rate of SOFR plus 350 basis points. </context> | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
During 2022, we formed a joint venture with The Bromley Companies (“Bromley”) in which we own a 50.0 % interest to construct Midtown East, a multi-customer office development project located in the mixed-use Midtown Tampa project in Tampa’s Westshore submarket. Upon completion, the Midtown East joint venture will own 143,000 square feet of an overall 432,000 square foot tower. The rest of Midtown East will be owned by and serve as the future headquarters of Tampa Electric and Peoples Gas. The total anticipated investment for the Midtown East joint venture’s share of the overall project is $ 83.0 million. In connection with the formation, we agreed to contribute our 50.0 % share of the equity required to fund the development project, $ 14.2 million of which was funded as of December 31, 2024. We also committed to provide a $ 52.3 million interest-only secured construction loan to the Midtown East joint venture that is scheduled to mature on the third | text | 52.3 | monetaryItemType | text: <entity> 52.3 </entity> <entity type> monetaryItemType </entity type> <context> During 2022, we formed a joint venture with The Bromley Companies (“Bromley”) in which we own a 50.0 % interest to construct Midtown East, a multi-customer office development project located in the mixed-use Midtown Tampa project in Tampa’s Westshore submarket. Upon completion, the Midtown East joint venture will own 143,000 square feet of an overall 432,000 square foot tower. The rest of Midtown East will be owned by and serve as the future headquarters of Tampa Electric and Peoples Gas. The total anticipated investment for the Midtown East joint venture’s share of the overall project is $ 83.0 million. In connection with the formation, we agreed to contribute our 50.0 % share of the equity required to fund the development project, $ 14.2 million of which was funded as of December 31, 2024. We also committed to provide a $ 52.3 million interest-only secured construction loan to the Midtown East joint venture that is scheduled to mature on the third </context> | us-gaap:AdvancesToAffiliate |
anniversary of completion. The loan bears interest at SOFR plus 450 basis points. As of December 31, 2024, $ 21.4 million was drawn on this loan. | text | 450 | percentItemType | text: <entity> 450 </entity> <entity type> percentItemType </entity type> <context> anniversary of completion. The loan bears interest at SOFR plus 450 basis points. As of December 31, 2024, $ 21.4 million was drawn on this loan. </context> | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
As of December 31, 2024, our risk of loss with respect to this arrangement was $ 35.5 million, which consists of the $ 14.1 million carrying value of our investment balance plus the $ 21.4 million outstanding balance of the loan we have provided to the joint venture. The outstanding balance on the loan is recorded in investments in and advances to unconsolidated affiliates on our Consolidated Balance Sheets. The assets of the Midtown East joint venture can only be used to settle obligations of the joint venture, and its creditors have no recourse to our wholly owned assets. | text | 14.1 | monetaryItemType | text: <entity> 14.1 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024, our risk of loss with respect to this arrangement was $ 35.5 million, which consists of the $ 14.1 million carrying value of our investment balance plus the $ 21.4 million outstanding balance of the loan we have provided to the joint venture. The outstanding balance on the loan is recorded in investments in and advances to unconsolidated affiliates on our Consolidated Balance Sheets. The assets of the Midtown East joint venture can only be used to settle obligations of the joint venture, and its creditors have no recourse to our wholly owned assets. </context> | us-gaap:EquityMethodInvestments |
During 2021, we formed a joint venture with Brand Properties, LLC (“Brand”) to construct 2827 Peachtree, a 135,000 square foot, multi-customer office building located in Atlanta’s Buckhead submarket. The 2827 Peachtree joint venture has an anticipated total investment of $ 79.0 million. At closing, we agreed to contribute cash of $ 13.3 million, which has been fully funded, in exchange for a 50.0 % interest in the 2827 Peachtree joint venture. Brand contributed land valued at $ 7.7 million and cash of $ 5.6 million in exchange for the remaining 50.0 % interest. We also committed to provide a $ 52.8 million interest-only secured construction loan to the 2827 Peachtree joint venture that was originally scheduled to mature in December 2024 with an option to extend for one year. During 2024, the joint venture exercised the option to extend the loan for one year . The loan bears interest at SOFR plus 310 basis points. As of December 31, 2024, $ 48.2 million was drawn on this loan. | text | 52.8 | monetaryItemType | text: <entity> 52.8 </entity> <entity type> monetaryItemType </entity type> <context> During 2021, we formed a joint venture with Brand Properties, LLC (“Brand”) to construct 2827 Peachtree, a 135,000 square foot, multi-customer office building located in Atlanta’s Buckhead submarket. The 2827 Peachtree joint venture has an anticipated total investment of $ 79.0 million. At closing, we agreed to contribute cash of $ 13.3 million, which has been fully funded, in exchange for a 50.0 % interest in the 2827 Peachtree joint venture. Brand contributed land valued at $ 7.7 million and cash of $ 5.6 million in exchange for the remaining 50.0 % interest. We also committed to provide a $ 52.8 million interest-only secured construction loan to the 2827 Peachtree joint venture that was originally scheduled to mature in December 2024 with an option to extend for one year. During 2024, the joint venture exercised the option to extend the loan for one year . The loan bears interest at SOFR plus 310 basis points. As of December 31, 2024, $ 48.2 million was drawn on this loan. </context> | us-gaap:AdvancesToAffiliate |
During 2021, we formed a joint venture with Brand Properties, LLC (“Brand”) to construct 2827 Peachtree, a 135,000 square foot, multi-customer office building located in Atlanta’s Buckhead submarket. The 2827 Peachtree joint venture has an anticipated total investment of $ 79.0 million. At closing, we agreed to contribute cash of $ 13.3 million, which has been fully funded, in exchange for a 50.0 % interest in the 2827 Peachtree joint venture. Brand contributed land valued at $ 7.7 million and cash of $ 5.6 million in exchange for the remaining 50.0 % interest. We also committed to provide a $ 52.8 million interest-only secured construction loan to the 2827 Peachtree joint venture that was originally scheduled to mature in December 2024 with an option to extend for one year. During 2024, the joint venture exercised the option to extend the loan for one year . The loan bears interest at SOFR plus 310 basis points. As of December 31, 2024, $ 48.2 million was drawn on this loan. | text | 310 | percentItemType | text: <entity> 310 </entity> <entity type> percentItemType </entity type> <context> During 2021, we formed a joint venture with Brand Properties, LLC (“Brand”) to construct 2827 Peachtree, a 135,000 square foot, multi-customer office building located in Atlanta’s Buckhead submarket. The 2827 Peachtree joint venture has an anticipated total investment of $ 79.0 million. At closing, we agreed to contribute cash of $ 13.3 million, which has been fully funded, in exchange for a 50.0 % interest in the 2827 Peachtree joint venture. Brand contributed land valued at $ 7.7 million and cash of $ 5.6 million in exchange for the remaining 50.0 % interest. We also committed to provide a $ 52.8 million interest-only secured construction loan to the 2827 Peachtree joint venture that was originally scheduled to mature in December 2024 with an option to extend for one year. During 2024, the joint venture exercised the option to extend the loan for one year . The loan bears interest at SOFR plus 310 basis points. As of December 31, 2024, $ 48.2 million was drawn on this loan. </context> | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
As of December 31, 2024, our risk of loss with respect to this arrangement was $ 60.7 million, which consists of the $ 12.5 million carrying value of our investment balance plus the $ 48.2 million outstanding balance of the loan we have provided to the joint venture. The outstanding balance on the loan is recorded in investments in and advances to unconsolidated affiliates on our Consolidated Balance Sheets. The assets of the 2827 Peachtree joint venture can only be used to settle obligations of the joint venture, and its creditors have no recourse to our wholly owned assets. | text | 12.5 | monetaryItemType | text: <entity> 12.5 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024, our risk of loss with respect to this arrangement was $ 60.7 million, which consists of the $ 12.5 million carrying value of our investment balance plus the $ 48.2 million outstanding balance of the loan we have provided to the joint venture. The outstanding balance on the loan is recorded in investments in and advances to unconsolidated affiliates on our Consolidated Balance Sheets. The assets of the 2827 Peachtree joint venture can only be used to settle obligations of the joint venture, and its creditors have no recourse to our wholly owned assets. </context> | us-gaap:EquityMethodInvestments |
In 2019, we and Bromley formed a joint venture to construct Midtown West, a 152,000 square foot, multi-customer office building located in the mixed-use Midtown Tampa project in Tampa’s Westshore submarket. At closing, we agreed to contribute cash of $ 20.0 million, which has been fully funded, in exchange for an 80.0 % interest in the Midtown West joint venture, and Bromley contributed land valued at $ 5.0 million in exchange for the remaining 20.0 % interest. We also provided a | text | 20.0 | percentItemType | text: <entity> 20.0 </entity> <entity type> percentItemType </entity type> <context> In 2019, we and Bromley formed a joint venture to construct Midtown West, a 152,000 square foot, multi-customer office building located in the mixed-use Midtown Tampa project in Tampa’s Westshore submarket. At closing, we agreed to contribute cash of $ 20.0 million, which has been fully funded, in exchange for an 80.0 % interest in the Midtown West joint venture, and Bromley contributed land valued at $ 5.0 million in exchange for the remaining 20.0 % interest. We also provided a </context> | us-gaap:MinorityInterestOwnershipPercentageByNoncontrollingOwners |
$ 46.3 million interest-only secured construction loan to the Midtown West joint venture. All of the amounts outstanding under this loan were repaid in 2023. | text | 46.3 | monetaryItemType | text: <entity> 46.3 </entity> <entity type> monetaryItemType </entity type> <context> $ 46.3 million interest-only secured construction loan to the Midtown West joint venture. All of the amounts outstanding under this loan were repaid in 2023. </context> | us-gaap:AdvancesToAffiliate |
During 2023, the Midtown West joint venture obtained a $ 45.0 million, five-year secured mortgage loan from a third party lender, with an effective fixed rate of 7.29 %. This loan is scheduled to mature in November 2028. The joint venture incurred $ 0.8 million of debt issuance costs, which will be amortized over the term of the loan. The net proceeds were used by the joint venture to repay in full the secured construction loan we provided, as discussed above. This reconsideration event did not change our initial conclusion that the Midtown West joint venture is a variable interest entity of which we are the primary beneficiary. As such, the entity remains consolidated and all intercompany transactions and accounts are eliminated | text | 45.0 | monetaryItemType | text: <entity> 45.0 </entity> <entity type> monetaryItemType </entity type> <context> During 2023, the Midtown West joint venture obtained a $ 45.0 million, five-year secured mortgage loan from a third party lender, with an effective fixed rate of 7.29 %. This loan is scheduled to mature in November 2028. The joint venture incurred $ 0.8 million of debt issuance costs, which will be amortized over the term of the loan. The net proceeds were used by the joint venture to repay in full the secured construction loan we provided, as discussed above. This reconsideration event did not change our initial conclusion that the Midtown West joint venture is a variable interest entity of which we are the primary beneficiary. As such, the entity remains consolidated and all intercompany transactions and accounts are eliminated </context> | us-gaap:DebtInstrumentFaceAmount |
During 2023, the Midtown West joint venture obtained a $ 45.0 million, five-year secured mortgage loan from a third party lender, with an effective fixed rate of 7.29 %. This loan is scheduled to mature in November 2028. The joint venture incurred $ 0.8 million of debt issuance costs, which will be amortized over the term of the loan. The net proceeds were used by the joint venture to repay in full the secured construction loan we provided, as discussed above. This reconsideration event did not change our initial conclusion that the Midtown West joint venture is a variable interest entity of which we are the primary beneficiary. As such, the entity remains consolidated and all intercompany transactions and accounts are eliminated | text | 7.29 | percentItemType | text: <entity> 7.29 </entity> <entity type> percentItemType </entity type> <context> During 2023, the Midtown West joint venture obtained a $ 45.0 million, five-year secured mortgage loan from a third party lender, with an effective fixed rate of 7.29 %. This loan is scheduled to mature in November 2028. The joint venture incurred $ 0.8 million of debt issuance costs, which will be amortized over the term of the loan. The net proceeds were used by the joint venture to repay in full the secured construction loan we provided, as discussed above. This reconsideration event did not change our initial conclusion that the Midtown West joint venture is a variable interest entity of which we are the primary beneficiary. As such, the entity remains consolidated and all intercompany transactions and accounts are eliminated </context> | us-gaap:DebtInstrumentInterestRateEffectivePercentage |
Our secured mortgage loans were collateralized by real estate assets with an undepreciated book value of $ 1,245.0 million as of December 31, 2024. We paid down $ 7.1 million of secured loan balances through principal amortization during 2024. | text | 7.1 | monetaryItemType | text: <entity> 7.1 </entity> <entity type> monetaryItemType </entity type> <context> Our secured mortgage loans were collateralized by real estate assets with an undepreciated book value of $ 1,245.0 million as of December 31, 2024. We paid down $ 7.1 million of secured loan balances through principal amortization during 2024. </context> | us-gaap:DebtInstrumentAnnualPrincipalPayment |
Net of unamortized fair market value premium of $ 2.1 million and $ 2.7 million as of December 31, 2024 and 2023, respectively. | text | 2.1 | monetaryItemType | text: <entity> 2.1 </entity> <entity type> monetaryItemType </entity type> <context> Net of unamortized fair market value premium of $ 2.1 million and $ 2.7 million as of December 31, 2024 and 2023, respectively. </context> | us-gaap:DebtInstrumentUnamortizedPremium |
Net of unamortized fair market value premium of $ 2.1 million and $ 2.7 million as of December 31, 2024 and 2023, respectively. | text | 2.7 | monetaryItemType | text: <entity> 2.7 </entity> <entity type> monetaryItemType </entity type> <context> Net of unamortized fair market value premium of $ 2.1 million and $ 2.7 million as of December 31, 2024 and 2023, respectively. </context> | us-gaap:DebtInstrumentUnamortizedPremium |
Net of unamortized fair market value premium of $ 1.4 million and $ 1.7 million as of December 31, 2024 and 2023, respectively. | text | 1.4 | monetaryItemType | text: <entity> 1.4 </entity> <entity type> monetaryItemType </entity type> <context> Net of unamortized fair market value premium of $ 1.4 million and $ 1.7 million as of December 31, 2024 and 2023, respectively. </context> | us-gaap:DebtInstrumentUnamortizedPremium |
Net of unamortized fair market value premium of $ 1.4 million and $ 1.7 million as of December 31, 2024 and 2023, respectively. | text | 1.7 | monetaryItemType | text: <entity> 1.7 </entity> <entity type> monetaryItemType </entity type> <context> Net of unamortized fair market value premium of $ 1.4 million and $ 1.7 million as of December 31, 2024 and 2023, respectively. </context> | us-gaap:DebtInstrumentUnamortizedPremium |
Net of unamortized fair market value discount of $ 0.4 million and $ 0.5 million as of December 31, 2024 and 2023, respectively. | text | 0.4 | monetaryItemType | text: <entity> 0.4 </entity> <entity type> monetaryItemType </entity type> <context> Net of unamortized fair market value discount of $ 0.4 million and $ 0.5 million as of December 31, 2024 and 2023, respectively. </context> | us-gaap:DebtInstrumentUnamortizedDiscount |
Net of unamortized fair market value discount of $ 0.4 million and $ 0.5 million as of December 31, 2024 and 2023, respectively. | text | 0.5 | monetaryItemType | text: <entity> 0.5 </entity> <entity type> monetaryItemType </entity type> <context> Net of unamortized fair market value discount of $ 0.4 million and $ 0.5 million as of December 31, 2024 and 2023, respectively. </context> | us-gaap:DebtInstrumentUnamortizedDiscount |
Net of unamortized fair market value premium of $ 8.0 million and $ 8.6 million as of December 31, 2024 and 2023, respectively. | text | 8.0 | monetaryItemType | text: <entity> 8.0 </entity> <entity type> monetaryItemType </entity type> <context> Net of unamortized fair market value premium of $ 8.0 million and $ 8.6 million as of December 31, 2024 and 2023, respectively. </context> | us-gaap:DebtInstrumentUnamortizedPremium |
Net of unamortized fair market value premium of $ 8.0 million and $ 8.6 million as of December 31, 2024 and 2023, respectively. | text | 8.6 | monetaryItemType | text: <entity> 8.6 </entity> <entity type> monetaryItemType </entity type> <context> Net of unamortized fair market value premium of $ 8.0 million and $ 8.6 million as of December 31, 2024 and 2023, respectively. </context> | us-gaap:DebtInstrumentUnamortizedPremium |
Net of unamortized original issuance discount of $ 0.9 million and $ 1.3 million as of December 31, 2024 and 2023, respectively. | text | 0.9 | monetaryItemType | text: <entity> 0.9 </entity> <entity type> monetaryItemType </entity type> <context> Net of unamortized original issuance discount of $ 0.9 million and $ 1.3 million as of December 31, 2024 and 2023, respectively. </context> | us-gaap:DebtInstrumentUnamortizedDiscount |
Net of unamortized original issuance discount of $ 0.9 million and $ 1.3 million as of December 31, 2024 and 2023, respectively. | text | 1.3 | monetaryItemType | text: <entity> 1.3 </entity> <entity type> monetaryItemType </entity type> <context> Net of unamortized original issuance discount of $ 0.9 million and $ 1.3 million as of December 31, 2024 and 2023, respectively. </context> | us-gaap:DebtInstrumentUnamortizedDiscount |
Net of unamortized original issuance discount of $ 1.3 million and $ 1.7 million as of December 31, 2024 and 2023, respectively. | text | 1.3 | monetaryItemType | text: <entity> 1.3 </entity> <entity type> monetaryItemType </entity type> <context> Net of unamortized original issuance discount of $ 1.3 million and $ 1.7 million as of December 31, 2024 and 2023, respectively. </context> | us-gaap:DebtInstrumentUnamortizedDiscount |
Net of unamortized original issuance discount of $ 1.3 million and $ 1.7 million as of December 31, 2024 and 2023, respectively. | text | 1.7 | monetaryItemType | text: <entity> 1.7 </entity> <entity type> monetaryItemType </entity type> <context> Net of unamortized original issuance discount of $ 1.3 million and $ 1.7 million as of December 31, 2024 and 2023, respectively. </context> | us-gaap:DebtInstrumentUnamortizedDiscount |
Net of unamortized original issuance discount of $ 0.4 million and $ 0.5 million as of December 31, 2024 and 2023, respectively. | text | 0.4 | monetaryItemType | text: <entity> 0.4 </entity> <entity type> monetaryItemType </entity type> <context> Net of unamortized original issuance discount of $ 0.4 million and $ 0.5 million as of December 31, 2024 and 2023, respectively. </context> | us-gaap:DebtInstrumentUnamortizedDiscount |
Net of unamortized original issuance discount of $ 0.4 million and $ 0.5 million as of December 31, 2024 and 2023, respectively. | text | 0.5 | monetaryItemType | text: <entity> 0.5 </entity> <entity type> monetaryItemType </entity type> <context> Net of unamortized original issuance discount of $ 0.4 million and $ 0.5 million as of December 31, 2024 and 2023, respectively. </context> | us-gaap:DebtInstrumentUnamortizedDiscount |
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