InvenTrust Properties (IVT) 10-Q 2 May 23 2023 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2023	May 01, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	001-40896
Entity Registrant Name	INVENTRUST PROPERTIES CORP.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	34-2019608
Entity Address, Address Line One	3025 Highland Parkway,
Entity Address, Address Line Two	Suite 350
Entity Address, City or Town	Downers Grove,
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60515
City Area Code	(855)
Local Phone Number	377-0510
Title of 12(b) Security	Common stock, $0.001 par value
Trading Symbol	IVT
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		67,508,641
Entity Central Index Key	0001307748
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Investment properties
Land	$ 691,401	$ 650,764
Building and other improvements	1,930,980	1,825,893
Construction in progress	7,046	5,005
Total	2,629,427	2,481,662
Less accumulated depreciation	(407,309)	(389,361)
Net investment properties	2,222,118	2,092,301
Cash, cash equivalents and restricted cash	69,291	137,762
Investment in unconsolidated entities	15,706	56,131
Intangible assets, net	138,210	101,167
Accounts and rents receivable	30,306	34,528
Deferred costs and other assets, net	55,823	51,145
Total assets	2,531,454	2,473,034
Liabilities
Debt, net	832,986	754,551
Accounts payable and accrued expenses	29,474	42,792
Distributions payable	14,548	13,837
Intangible liabilities, net	34,491	29,658
Other liabilities	33,550	28,287
Total liabilities	945,049	869,125
Commitments and contingencies
Stockholders' Equity
Preferred stock, $0.001 par value, 40,000,000 shares authorized, none outstanding	0	0
Common stock, $0.001 par value, 146,000,000 shares authorized, 67,508,641 shares issued and outstanding as of March 31, 2023 and 67,472,553 shares issued and outstanding as of December 31, 2022	68	67
Additional paid-in capital	5,459,087	5,456,968
Distributions in excess of accumulated net income	(3,893,262)	(3,879,847)
Accumulated comprehensive income	20,512	26,721
Total stockholders' equity	1,586,405	1,603,909
Total liabilities and stockholders' equity	$ 2,531,454	$ 2,473,034

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	40,000,000	40,000,000
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	146,000,000	146,000,000
Common stock, shares issued (in shares)	67,508,641	67,472,553
Balance beginning of period (in shares)	67,508,641	67,472,553

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income
Lease income, net	$ 64,830	$ 57,768
Total income	65,205	58,786
Operating expenses
Depreciation and amortization	26,758	22,829
Property operating	10,230	8,285
Real estate taxes	9,628	8,043
General and administrative	7,731	7,887
Total operating expenses	54,347	47,044
Other (expense) income
Interest expense, net	(9,509)	(4,809)
Loss on extinguishment of debt	0	(96)
Equity in (losses) earnings of unconsolidated entities	(663)	2,716
Other income and expense, net	447	(52)
Total other (expense) income, net	(9,725)	(2,241)
Net income	$ 1,133	$ 9,501
Weighted-average common shares outstanding - basic (in shares)	67,508,641	67,354,717
Weighted-average common shares outstanding - diluted (in shares)	67,654,524	67,576,038
Net income per common share - basic (in dollars per share)	$ 0.02	$ 0.14
Net income per common share - diluted (in dollars per share)	0.02	0.14
Distributions declared per common share outstanding (in dollars per share)	0.22	0.21
Distributions paid per common share outstanding (in dollars per share)	$ 0.20	$ 0.20
Comprehensive (loss) income
Net income	$ 1,133	$ 9,501
Unrealized (loss) gain on derivatives	(3,317)	15,406
Reclassification (to) from net income	(2,892)	1,025
Comprehensive (loss) income	(5,076)	25,932
Other property income
Income
Income	295	264
Other fee income
Income
Income	$ 80	$ 754

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Distributions in Excess of Accumulated Net Income	Accumulated Comprehensive Income (Loss)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance beginning of period (in shares)		67,344,374
Balance beginning of period at Dec. 31, 2021	$ 1,571,552	$ 67	$ 5,452,550	$ (3,876,743)	$ (4,322)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	9,501			9,501
Unrealized (loss) gain on derivatives	15,406				15,406
Reclassification to (from) interest expense, net	1,003				1,003
Reclassification to equity in earnings of unconsolidated entities	22				22
Distributions declared	(13,828)			(13,828)
Stock-based compensation, net (in shares)		44,329
Stock-based compensation, net	550		550
Balance end of period (in shares) at Mar. 31, 2022		67,388,703
Balance end of period at Mar. 31, 2022	$ 1,584,206	$ 67	5,453,100	(3,881,070)	12,109
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance beginning of period (in shares)		67,388,703
Balance beginning of period (in shares)	67,472,553	67,472,553
Balance beginning of period at Dec. 31, 2022	$ 1,603,909	$ 67	5,456,968	(3,879,847)	26,721
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,133			1,133
Unrealized (loss) gain on derivatives	(3,317)				(3,317)
Reclassification to (from) interest expense, net	(2,892)				(2,892)
Distributions declared	(14,548)			(14,548)
Stock-based compensation, net (in shares)		36,088
Stock-based compensation, net	$ 2,120	$ 1	2,119
Balance end of period (in shares) at Mar. 31, 2023	67,508,641	67,508,641
Balance end of period at Mar. 31, 2023	$ 1,586,405	$ 68	$ 5,459,087	$ (3,893,262)	$ 20,512
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance beginning of period (in shares)	67,508,641	67,508,641

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities:
Net income	$ 1,133	$ 9,501
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	26,758	22,829
Amortization of market-lease intangibles and inducements, net	(1,516)	(2,547)
Amortization of debt discounts and financing costs	854	664
Straight-line rent adjustment, net	(710)	(663)
Reversal of estimated credit losses	(504)	(1,109)
Loss on extinguishment of debt	0	96
Equity in losses (earnings) of unconsolidated entities	663	(2,716)
Distributions from unconsolidated entities	0	4,950
Stock-based compensation, net	1,967	1,082
Changes in operating assets and liabilities:
Accounts and rents receivable	5,505	5,890
Deferred costs and other assets, net	(3,513)	(3,487)
Accounts payable and accrued expenses	(14,735)	(8,610)
Other liabilities	123	897
Net cash provided by operating activities	16,025	26,777
Cash flows from investing activities:
Purchase of investment properties	(129,635)	(130,918)
Capital expenditures and tenant improvements	(4,734)	(4,303)
Investment in development and redevelopment projects	(809)	(2,363)
Distributions from unconsolidated entities	79,255	25,300
Lease commissions and other leasing costs	(475)	(1,067)
Other investing activities	38	(930)
Net cash used in investing activities	(56,360)	(114,281)
Cash flows from financing activities:
Distributions to shareholders	(13,837)	(13,802)
Line of credit proceeds	30,000	105,000
Line of credit repayments	(30,000)	0
Payoffs of debt	(13,700)	(22,328)
Principal payments on mortgage debt	(32)	(298)
Payment of loan fees and deposits	0	(90)
Other financing activities	(567)	(109)
Net cash (used in) provided by financing activities	(28,136)	68,373
Net decrease in cash, cash equivalents and restricted cash	(68,471)	(19,131)
Cash, cash equivalents and restricted cash at the beginning of the period	137,762	44,854
Cash, cash equivalents and restricted cash at the end of the period	69,291	25,723
Cash flow disclosure, including non-cash activities:
Cash paid for interest, net of capitalized interest	11,343	3,930
Cash paid for income taxes, net of refunds	3	0
Previously held equity investments in real estate assets acquired	39,603	0
Distributions payable to shareholders	14,548	13,828
Accrued capital expenditures and tenant improvements	3,969	1,459
Capitalized costs placed in service	2,424	1,391
Purchase of investment properties:
Net investment properties	181,039	176,623
Accounts and rents receivable, lease intangibles, and deferred costs and other assets	49,322	17,022
Accounts payable and accrued expenses, lease intangibles, and other liabilities	(8,950)	(5,227)
Assumption of mortgage debt, at fair value	(91,776)	(57,500)
Cash outflow for purchase of investment properties, net	129,635	130,918
Assumption of mortgage principal	92,468	57,500
Capitalized acquisition costs	(78)	(814)
Credits and other changes in cash outflow, net	(425)	1,736
Gross acquisition price of investment properties	$ 221,600	$ 189,340

Organization

Organization	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization On October 4, 2004, InvenTrust Properties Corp. (the "Company" or "InvenTrust") was incorporated as Inland American Real Estate Trust, Inc., a Maryland corporation, and has elected and operates in a manner to be taxed as a real estate investment trust ("REIT") for federal tax purposes. The Company changed its name to InvenTrust Properties Corp. in April of 2015 and is focused on owning, leasing, redeveloping, acquiring and managing a multi-tenant retail platform. As a REIT, the Company is entitled to a tax deduction for some or all of the dividends paid to stockholders. Accordingly, the Company generally will not be subject to federal income taxes as long as it currently distributes to stockholders an amount equal to or in excess of the Company's taxable income. If the Company fails to qualify as a REIT in any taxable year, without the benefit of certain relief provisions, the Company will be subject to federal and state income tax on its taxable income at regular corporate tax rates. The accompanying condensed consolidated financial statements include the accounts of the Company, as well as all wholly-owned subsidiaries. Subsidiaries generally consist of limited liability companies ("LLCs") and limited partnerships ("LPs"). All significant intercompany balances and transactions have been eliminated. Each retail property is owned by a separate legal entity that maintains its own books and financial records. Each separate legal entity's assets are not available to satisfy the liabilities of other affiliated entities, except as otherwise disclosed in "Note 6. Investment in Unconsolidated Entities" . As of March 31, 2023 and 2022, the Company had an investment in one unconsolidated real estate joint venture, IAGM Retail Fund I, LLC ("IAGM"). On January 18, 2023, the Company acquired the four remaining retail properties from IAGM by acquiring 100% of the membership interests in each of IAGM's wholly owned subsidiaries, as disclosed in "Note 6. Investment in Unconsolidated Entities" . The Company determined it has a single reportable segment, multi-tenant retail, for disclosure purposes in accordance with GAAP. The following table summarizes the Company's retail portfolio as of March 31, 2023 and 2022: Wholly-Owned Retail Properties Unconsolidated Retail Properties at 100% 2023 2022 2023 2022 No. of properties 62 57 — 6 Gross Leasable Area (square feet) 10,295 9,081 — 1,562

Basis of Presentation and Recen

Basis of Presentation and Recently Issued Accounting Pronouncements	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation and Recently Issued Accounting Pronouncements	Basis of Presentation and Recently Issued Accounting Pronouncements Estimates, Risks, and Uncertainties The accompanying condensed consolidated financial statements have been prepared in accordance with GAAP, which requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Significant estimates, judgments and assumptions are required in a number of areas, including, but not limited to, evaluating the impairment of long-lived assets, allocating the purchase price of acquired retail properties, determining the fair value of debt and evaluating the collectibility of accounts receivable. The Company bases these estimates, judgments and assumptions on historical experience and various other factors that the Company believes to be reasonable under the circumstances. Actual results may differ from these estimates.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Operating Leases Minimum lease payments to be received under long-term operating leases and short-term specialty leases, excluding additional percentage rent based on tenants' sales volume and tenant reimbursements of certain operating expenses, and assuming no exercise of renewal options or early termination rights, are as follows: Minimum lease payments, by year As of March 31, 2023 Remaining 2023 $ 139,482 2024 175,355 2025 157,378 2026 137,903 2027 104,376 Thereafter 358,094 Total $ 1,072,588 The foregoing table includes payments from tenants who have taken possession of their space and tenants who have been moved to the cash basis of accounting for revenue recognition purposes. The remaining lease terms range from less than one year to seventy-six years. The following table reflects the disaggregation of lease income, net: Three months ended March 31, 2023 2022 Minimum base rent $ 40,476 $ 35,048 Real estate tax recoveries 8,517 7,267 Common area maintenance, insurance, and other recoveries 6,949 6,292 Ground rent income 4,710 3,610 Amortization of market-lease intangibles and inducements, net 1,516 2,547 Short-term and other lease income 1,314 1,064 Termination fee income 134 168 Straight-line rent adjustment, net 710 663 Reversal of uncollectible straight-line rent 199 494 Provision for uncollectible billed rent and recoveries (285) (236) Reversal of uncollectible billed rent and recoveries 590 851 Lease income, net $ 64,830 $ 57,768

Acquired Properties

Acquired Properties	3 Months Ended
	Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Acquired Properties	Acquired Properties The following table reflects the retail properties acquired, accounted for as asset acquisitions, during the three months ended March 31, 2023: Acquisition Date Property (a) Metropolitan Area Square Feet Gross Assumption of January 18, 2023 Bay Colony Houston, TX 416 $ 79,100 $ 41,969 January 18, 2023 Blackhawk Town Center Houston, TX 127 26,300 13,008 January 18, 2023 Cyfair Town Center Houston, TX 433 79,200 30,880 January 18, 2023 Stables Town Center Houston, TX 148 37,000 6,611 1,124 $ 221,600 $ 92,468 (a) These retail properties were acquired from the Company's unconsolidated joint venture, IAGM, as disclosed in "Note 6. Investment in Unconsolidated Entities". The Company recognized a fair value adjustment of $692 related to the pooled mortgage debt on these properties. The following table reflects the retail properties acquired, accounted for as asset acquisitions, during the three months ended March 31, 2022: Acquisition Date Property Metropolitan Area Square Feet Gross Assumption of February 2, 2022 Shops at Arbor Trails Austin, TX 357 $ 112,190 $ 31,500 February 2, 2022 Escarpment Village Austin, TX 170 77,150 26,000 527 $ 189,340 $ 57,500

Disposed Properties

Disposed Properties	3 Months Ended
	Mar. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
Disposed Properties	Disposed Properties There were no properties disposed of during the three months ended March 31, 2023 and 2022.

Investment in Unconsolidated En

Investment in Unconsolidated Entities	3 Months Ended
	Mar. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]
Investment in Unconsolidated Entities	Investment in Unconsolidated Entities Joint Venture Interest in IAGM As of March 31, 2023 and December 31, 2022, the Company owned a 55% interest in one unconsolidated entity, IAGM Retail Fund I, LLC ("IAGM"), a joint venture partnership between the Company and PGGM Private Real Estate Fund. IAGM was formed on April 17, 2013 for the purpose of acquiring, owning, managing, and disposing of retail properties and sharing in the profits and losses from those retail properties and their activities. On January 18, 2023, the Company acquired the four remaining retail properties from IAGM for an aggregate purchase price of $222.3 million by acquiring 100% of the membership interests in each of IAGM's wholly owned subsidiaries . The Company assumed aggregate mortgage debt of $92.5 million and funded the remaining balance with its available liquidity. IAGM recognized a gain on sale of $45.2 million, of which the Company's share was approximately $24.9 million. Subsequent to the transaction, IAGM proportionately distributed substantially all net proceeds from the sale, of which the Company's share was approximately $71.4 million . In connection with the foregoing, IAGM adopted a liquidation plan on January 11, 2023. As of March 31, 2023, net assets of IAGM were $28.6 million , inclusive of cash and cash equivalents of $30.7 million. As of March 31, 2023, the Company's aggregate deferred gains related to its previously owned equity interest in real estate acquisitions from IAGM of $39.9 million are reflected in the basis of the respective acquired assets. Previously, deferred gains were reflected as a reduction of the Company's investment in IAGM and amortized to equity in earnings of unconsolidated entities. On January 18, 2023, the Company also acquired IAGM's two interest rate swap agreements which achieve fixed interest rates on an aggregate notional amount of $75.0 million of the assumed pooled mortgage priced in a Secured Overnight Financing Rate ("SOFR"), each of which reprice monthly ("1-Month Term SOFR"). IAGM recognized a gain on sale of $2.6 million representing the fair value of the derivatives, of which the Company's share was approximately $1.4 million. The Company deferred its share of IAGM's gain on sale of derivatives, initially reflecting it within accumulated comprehensive income and amortizing it to interest expense, net, through the instruments' maturity date. The following table reflects the real property disposed by IAGM since January 1, 2022. Date Property Square Feet Gross IAGM's The Company's Gain Deferral March 3, 2022 Price Plaza (a) 206 $ 39,100 $ 3,751 $ — April 21, 2022 The Highlands of Flower Mound (b) 175 38,000 1,244 684 December 16, 2022 Stone Ridge Market (b) 219 58,100 12,287 6,758 December 22, 2022 Stables Town Center (c) 43 7,800 (244) — January 18, 2023 Bay Colony (b) 416 79,100 22,327 12,280 January 18, 2023 Blackhawk Town Center (b) 127 26,300 12,632 6,948 January 18, 2023 Cyfair Town Center (b) 433 79,200 4,713 2,592 January 18, 2023 Stables Town Center (b) 148 37,000 5,536 3,045 (a) The buyer assumed a $17,800 mortgage payable secured by the property. (b) The Company purchased these properties at a purchase price determined by a third party real estate valuation specialist. (c) IAGM disposed of 43 square feet out of a total 191 square feet through a partial sale of the property. Condensed Financial Information The following table presents condensed balance sheet information for IAGM: As of March 31, 2023 December 31, 2022 Assets: Net investment properties $ — $ 161,312 Other assets 32,690 65,565 Total assets $ 32,690 $ 226,877 Liabilities and equity: Mortgages debt, net $ — $ 92,186 Other liabilities 4,053 7,392 Equity 28,637 127,299 Total liabilities and equity $ 32,690 $ 226,877 Company's share of equity $ 15,706 $ 70,869 Outside basis differences, net (a) — (14,738) Carrying value of investments in unconsolidated entities $ 15,706 $ 56,131 (a) The outside basis differences reflect unamortized deferred gains on historical property sales from IAGM to the Company. The following table presents condensed income statement information of IAGM: Three months ended March 31, 2023 2022 Total income $ 952 $ 8,379 Depreciation and amortization (622) (2,905) Property operating (232) (1,330) Real estate taxes (127) (1,411) Asset management fees (32) (251) Interest expense, net (143) (1,159) Other income and expense, net 199 (142) Gain (loss) on debt extinguishment 444 (111) Gain on sale of real estate 45,208 3,751 Gain on sale of derivatives 2,556 — Net income $ 48,203 $ 4,821 Company's share of net income $ 26,512 $ 2,652 Outside basis adjustments for IAGM's sales to the Company (27,175) 64 Equity in (losses) earnings of unconsolidated entities $ (663) $ 2,716

Debt

Debt	3 Months Ended
	Mar. 31, 2023
Notes and Loans Payable [Abstract]
Debt	Debt The Company's debt consists of mortgages payable, unsecured term loans, senior notes, and an unsecured revolving line of credit. The Company believes it has the ability to repay, refinance or extend any of its debt, and that it has adequate sources of funds to meet short-term cash needs. It is anticipated that the Company will use proceeds from property sales, cash on hand, and available capacity on credit agreements, if any, to repay, refinance or extend the mortgages payable maturing in the near term. The Company's credit agreements and mortgage loans require compliance with certain covenants, such as debt service coverage ratios, investment restrictions and distribution limitations. As of March 31, 2023 and December 31, 2022, the Company was in compliance with all loan covenants. On February 6, 2023, the Company extinguished the $13.7 million mortgage payable secured by Renaissance Center with its available liquidity. Credit Agreements On September 22, 2021, the Company entered into an amendment to the Revolving Credit Agreement (the "Amended Revolving Credit Agreement"), which provides for, among other things, an extension of the maturity of the $350.0 million Revolving Credit Agreement to September 22, 2025, with two six-month extension options. On September 22, 2021, the Company entered into an amendment to its $400.0 million Term Loan Credit Agreement (the "Amended Term Loan Agreement"), which provides for, among other things, an extension of the maturity dates and a reallocation of indebtedness under the two outstanding tranches of term loans thereunder. The Amended Term Loan Agreement consists of a $200.0 million 5-year tranche maturing on September 22, 2026, and a $200.0 million 5.5-year tranche maturing on March 22, 2027. On June 3, 2022, in connection with and upon effectiveness of the Note Purchase Agreement (as defined below) and in accordance with the terms of the Amended Term Loan Credit Agreement and Amended Revolving Credit Agreement, each of the administrative agents under such agreements released all of the subsidiary guarantors from their guaranty obligations that were previously made for the benefit of the lenders under such agreements. Interest Rate Swaps The Company is party to four effective interest rate swap agreements and four interest rate forward swap agreements, which address the periods between the maturity dates of the effective swaps and the maturity dates of the Amended Term Loan Agreement. In tandem, the interest rate swaps achieve fixed interest rates for a constant notional amount through the maturity dates of the Amended Term Loan Agreement. On January 18, 2023, the Company acquired IAGM's two interest rate swap agreements, which achieve fixed interest rates on an aggregate notional amount of $75.0 million of the assumed pooled mortgage, each priced in 1-Month Term SOFR. On March 16, 2023, the Company entered into one interest rate swap agreement with a notional amount of $100.0 million at 3.69%, achieving a fixed interest rate of 4.99%. As of the effective date of April 3, 2023, the entirety of the Company's variable rate term loans were swapped to fixed rates through the maturity dates of the Amended Term Loan Agreement. Senior Notes On August 11, 2022, the Company issued $250.0 million aggregate principal amount of senior notes in a private placement, of which (i) $150.0 million are designated as 5.07% Senior Notes, Series A, due August 11, 2029 (the "Series A Notes") and (ii) $100.0 million are designated as 5.20% Senior Notes, Series B, due August 11, 2032 (the "Series B Notes" and, together with the Series A Notes, the "Notes") pursuant to a note purchase agreement (the "Note Purchase Agreement"), dated June 3, 2022, between the Company and the various purchasers named therein. The Notes were issued at par in accordance with the Note Purchase Agreement and pay interest semiannually on February 11th and August 11th until their respective maturities. The Company may prepay at any time all or any part of the Notes, in an amount not less than 5% of the aggregate principal amount of any series of the Notes then outstanding in the case of a partial prepayment, at 100% of the principal amount so prepaid plus accrued interest and a Make-Whole Amount (as defined in the Note Purchase Agreement). The Notes will be required to be absolutely and unconditionally guaranteed by certain subsidiaries of the Company that guarantee certain material credit facilities of the Company. Currently, there are no subsidiary guarantees of the Notes. The following table summarizes the Company's debt as of March 31, 2023 and December 31, 2022: Interest As of March 31, 2023 As of December 31, 2022 Maturity Date Interest Rate Amount Interest Rate Amount Mortgages Payable Fixed rate mortgages payable Various Fixed 3.12% (a) (b) $ 171,080 3.95% (a) $ 109,812 Variable rate mortgages payable 11/2/2023 Variable 1M SOFR + 1.65% (c) 17,468 — — Total 188,548 109,812 Term Loans $200.0 million 5 years 9/22/2026 Fixed 2.71% (b) 100,000 2.71% (b) 100,000 $200.0 million 5 years 9/22/2026 Fixed 2.72% (b) 100,000 2.72% (b) 100,000 $200.0 million 5.5 years 3/22/2027 Fixed 2.77% (b) 50,000 2.77% (b) 50,000 $200.0 million 5.5 years 3/22/2027 Fixed 2.76% (b) 50,000 2.76% (b) 50,000 $200.0 million 5.5 years 3/22/2027 Variable 1M SOFR + 1.30% (c) (d) 100,000 1M LIBOR + 1.30% (c) 100,000 Total 400,000 400,000 Senior Notes $150.0 million 8/11/2029 Fixed 5.07% 150,000 5.07% 150,000 $100.0 million 8/11/2032 Fixed 5.20% 100,000 5.20% 100,000 Total 250,000 250,000 Revolving Line of Credit $350.0 million total capacity 9/22/2025 Variable 1M SOFR + 1.14% (c) — 1M SOFR + 1.14% (c) — Total debt 4.00% 838,548 4.08% 759,812 Debt discounts and issuance costs, net (5,562) (5,261) Debt, net $ 832,986 $ 754,551 (a) Interest rates reflect the weighted average of the Company's mortgages payable. (b) Interest rates reflect the fixed rates achieved through the Company's interest rate swaps. (c) As of March 31, 2023 and December 31, 2022, 1-Month Term SOFR was 4.80% and 4.36%, respectively. (d) As of April 3, 2023, the variable portion was swapped to 3.69%, achieving a fixed rate of 4.99% through the maturity date. The following table summarizes the scheduled maturities of the Company's mortgages payable as of March 31, 2023 for the remainder of 2023, each of the next four years, and thereafter. Scheduled maturities by year: As of March 31, 2023 2023 (a) $ 92,468 2024 15,700 2025 22,880 2026 — 2027 26,000 Thereafter 31,500 Total mortgage payable maturities $ 188,548 (a) Scheduled maturities during the year ended December 31, 2023 do not include two 12-month extension options available.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Recurring Measurements The following financial instruments are remeasured at fair value on a recurring basis: Fair Value Measurements as of March 31, 2023 December 31, 2022 Cash Flow Hedges: (a) (b) Level 1 Level 2 (c) Level 3 Level 1 Level 2 (d) Level 3 Derivative interest rate swap assets $ — $ 22,368 $ — $ — $ 26,721 $ — Derivative interest rate swap liabilities $ — $ (960) $ — $ — $ — $ — (a) During the twelve months subsequent to March 31, 2023, an estimated $11,281 of derivative interest rate balances recognized in accumulated comprehensive income will be reclassified into earnings. (b) As of March 31, 2023 and December 31, 2022, the Company determined that the credit valuation adjustments associated with nonperformance risk are not significant to the overall valuation of its derivatives. As a result, the Company's derivative valuations in their entirety are classified as Level 2 of the fair value hierarchy. (c) The Company's derivative assets or liabilities are recognized as a part of deferred costs and other assets, net or other liabilities, respectively. (d) The Company's derivative assets or liabilities are recognized as a part of deferred costs and other assets, net or other liabilities, respectively. IAGM's derivative assets were recognized as a part of investment in unconsolidated entities. Nonrecurring Measurements Investment Properties During the three months ended March 31, 2023 and 2022 , the Company had no Level 3 nonrecurring fair value measurements. Financial Instruments Not Measured at Fair Value The table below summarizes the estimated fair value of financial instruments presented at carrying values in the Company's condensed consolidated financial statements as of March 31, 2023 and December 31, 2022: March 31, 2023 December 31, 2022 Carrying Value Estimated Market Carrying Value Estimated Market Mortgages payable $ 188,548 $ 180,975 6.72 % $ 109,812 $ 100,218 6.81 % Senior notes 250,000 241,916 5.66 % 250,000 235,820 6.05 % Term loans 400,000 400,762 4.78 % 400,000 401,170 5.11 % Revolving line of credit — — N/A — — N/A The market interest rates used to estimate the fair value of the Company's mortgages payable, senior notes, term loans, and revolving line of credit reflect the terms currently available on similar borrowing terms to borrowers with credit profiles similar to that of the Company's. The Company classifies its debt instrument valuations within Level 2 of the fair value hierarchy.

Earnings Per Share and Equity T

Earnings Per Share and Equity Transactions	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Earnings Per Share and Equity Transactions	Earnings Per Share and Equity Transactions Basic earnings per share ("EPS") is computed by dividing net income or loss attributed to common shares by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that may occur from awards issued pursuant to the InvenTrust Properties Corp. 2015 Incentive Award Plan (the "Incentive Award Plan"). The following table reconciles the amounts used in calculating basic and diluted earnings per share: Three months ended March 31 2023 2022 Numerator: Net income attributed to common shares $ 1,133 $ 9,501 Earnings allocated to unvested restricted shares — — Net income attributed to common shares - basic and diluted 1,133 9,501 Denominator: Weighted average common shares outstanding - basic 67,508,641 67,354,717 Dilutive effect of unvested restricted shares (a) 145,883 221,321 Weighted average common shares outstanding - diluted 67,654,524 67,576,038 Basic and diluted earnings per common share: Net income per common share - basic $ 0.02 $ 0.14 Net income per common share - diluted $ 0.02 $ 0.14 (a) For the three months ended March 31, 2023, the Company has excluded the anti-dilutive effect of market-based awards granted in 2023. ATM Program On March 7, 2022, the Company established an at-the-market equity offering program (the "ATM Program") through which the Company may sell from time to time up to an aggregate of $250.0 million of its common stock. In connection with the ATM Program, the Company may sell shares of its common stock to or through sales agents, or may enter into separate forward sale agreements with one of the agents, or one of their respective affiliates, as a forward purchaser. As of March 31, 2023, the Company has not sold any common stock under the ATM Program. Share Repurchase Program

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation Effective as of June 19, 2015, the Company's Board adopted the Incentive Award Plan, under which the Company may grant cash and equity incentive awards to eligible employees, directors, and consultants. The Company is authorized to issue or transfer up to 3,000,000 shares (the “Share Limit”) of the Company's common stock pursuant to awards granted under the Incentive Award Plan. As of March 31, 2023, 574,423 shares were available for future issuance under the Incentive Award Plan. Outstanding restricted stock unit ("RSU") awards are categorized as either time-based awards, performance-based awards, or market-based awards. All awards are granted at fair value, earn dividends throughout the vesting period, and have no voting rights. Market-based awards are valued as of the grant date utilizing a Monte Carlo simulation model that assesses the probability of satisfying certain market performance thresholds over a three year performance period. The following table summarizes the Company's significant assumptions used in the Monte Carlo simulation models: Three months ended Three months ended Volatility 34.00% 33.89% Risk free interest rate 4.45% 0.79% —% 1.76% Dividend Yield 3.20% 3.24% The following table summarizes the Company's RSU activity during the three months ended March 31, 2023: Unvested Time- Unvested Performance Weighted-Average Grant Outstanding as of January 1, 2023 123,427 712,051 $ 23.35 Shares granted 109,793 445,828 $ 18.08 Shares vested — (60,042) $ 31.40 Unearned performance shares added back to Share Limit — (69,803) $ 31.40 Outstanding as of March 31, 2023 233,220 1,028,034 $ 18.06

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company is subject, from time to time, to various types of third-party legal claims or litigation that arise in the ordinary course of business, including, but not limited to, property loss claims, personal injury or other damages resulting from contact with the Company's properties. These claims and lawsuits and any resulting damages are generally covered by the Company's insurance policies. The Company accrues for legal costs associated with loss contingencies when these costs are probable and reasonably estimable. While the resolution of these matters cannot be predicted with certainty, based on currently available information, management does not expect that the final outcome of any pending claims or legal proceedings will have a material adverse effect on the financial condition, results of operations or cash flows of the Company. Operating Lease Commitments The Company has non-cancelable operating leases for office space used in its business. Future minimum operating lease obligations as of March 31, 2023, were as follows: Minimum Lease Payments Remaining 2023 $ 513 2024 628 2025 511 2026 517 2027 529 Thereafter 1,308 Total expected minimum lease obligation 4,006 Less: Amount representing interest (a) (755) Present value of net minimum lease payments $ 3,251 (a) Interest includes the amount necessary to reduce to present value the total expected minimum lease obligations calculated at the Company's incremental borrowing rate.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsIn preparing its condensed consolidated financial statements, the Company has evaluated, for recognition and disclosure purposes, events and transactions occurring after March 31, 2023, through the date the financial statements were issued.

Organization (Tables)

Organization (Tables)	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Multi-Tenant Retail Portfolio	The following table summarizes the Company's retail portfolio as of March 31, 2023 and 2022: Wholly-Owned Retail Properties Unconsolidated Retail Properties at 100% 2023 2022 2023 2022 No. of properties 62 57 — 6 Gross Leasable Area (square feet) 10,295 9,081 — 1,562

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Minimum Lease Payments to be Received	Minimum lease payments to be received under long-term operating leases and short-term specialty leases, excluding additional percentage rent based on tenants' sales volume and tenant reimbursements of certain operating expenses, and assuming no exercise of renewal options or early termination rights, are as follows: Minimum lease payments, by year As of March 31, 2023 Remaining 2023 $ 139,482 2024 175,355 2025 157,378 2026 137,903 2027 104,376 Thereafter 358,094 Total $ 1,072,588
Schedule of Disaggregation of Lease Income, Net	The following table reflects the disaggregation of lease income, net: Three months ended March 31, 2023 2022 Minimum base rent $ 40,476 $ 35,048 Real estate tax recoveries 8,517 7,267 Common area maintenance, insurance, and other recoveries 6,949 6,292 Ground rent income 4,710 3,610 Amortization of market-lease intangibles and inducements, net 1,516 2,547 Short-term and other lease income 1,314 1,064 Termination fee income 134 168 Straight-line rent adjustment, net 710 663 Reversal of uncollectible straight-line rent 199 494 Provision for uncollectible billed rent and recoveries (285) (236) Reversal of uncollectible billed rent and recoveries 590 851 Lease income, net $ 64,830 $ 57,768

Acquired Properties (Tables)

Acquired Properties (Tables)	3 Months Ended
	Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of Asset Acquisitions	The following table reflects the retail properties acquired, accounted for as asset acquisitions, during the three months ended March 31, 2023: Acquisition Date Property (a) Metropolitan Area Square Feet Gross Assumption of January 18, 2023 Bay Colony Houston, TX 416 $ 79,100 $ 41,969 January 18, 2023 Blackhawk Town Center Houston, TX 127 26,300 13,008 January 18, 2023 Cyfair Town Center Houston, TX 433 79,200 30,880 January 18, 2023 Stables Town Center Houston, TX 148 37,000 6,611 1,124 $ 221,600 $ 92,468 (a) These retail properties were acquired from the Company's unconsolidated joint venture, IAGM, as disclosed in "Note 6. Investment in Unconsolidated Entities". The Company recognized a fair value adjustment of $692 related to the pooled mortgage debt on these properties. The following table reflects the retail properties acquired, accounted for as asset acquisitions, during the three months ended March 31, 2022: Acquisition Date Property Metropolitan Area Square Feet Gross Assumption of February 2, 2022 Shops at Arbor Trails Austin, TX 357 $ 112,190 $ 31,500 February 2, 2022 Escarpment Village Austin, TX 170 77,150 26,000 527 $ 189,340 $ 57,500

Investment in Unconsolidated _2

Investment in Unconsolidated Entities (Tables)	3 Months Ended
	Mar. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Equity Method Investments	The following table reflects the real property disposed by IAGM since January 1, 2022. Date Property Square Feet Gross IAGM's The Company's Gain Deferral March 3, 2022 Price Plaza (a) 206 $ 39,100 $ 3,751 $ — April 21, 2022 The Highlands of Flower Mound (b) 175 38,000 1,244 684 December 16, 2022 Stone Ridge Market (b) 219 58,100 12,287 6,758 December 22, 2022 Stables Town Center (c) 43 7,800 (244) — January 18, 2023 Bay Colony (b) 416 79,100 22,327 12,280 January 18, 2023 Blackhawk Town Center (b) 127 26,300 12,632 6,948 January 18, 2023 Cyfair Town Center (b) 433 79,200 4,713 2,592 January 18, 2023 Stables Town Center (b) 148 37,000 5,536 3,045 (a) The buyer assumed a $17,800 mortgage payable secured by the property. (b) The Company purchased these properties at a purchase price determined by a third party real estate valuation specialist.
Schedule of Combined Financial Information of Investment in Unconsolidated Entities	The following table presents condensed balance sheet information for IAGM: As of March 31, 2023 December 31, 2022 Assets: Net investment properties $ — $ 161,312 Other assets 32,690 65,565 Total assets $ 32,690 $ 226,877 Liabilities and equity: Mortgages debt, net $ — $ 92,186 Other liabilities 4,053 7,392 Equity 28,637 127,299 Total liabilities and equity $ 32,690 $ 226,877 Company's share of equity $ 15,706 $ 70,869 Outside basis differences, net (a) — (14,738) Carrying value of investments in unconsolidated entities $ 15,706 $ 56,131 (a) The outside basis differences reflect unamortized deferred gains on historical property sales from IAGM to the Company. The following table presents condensed income statement information of IAGM: Three months ended March 31, 2023 2022 Total income $ 952 $ 8,379 Depreciation and amortization (622) (2,905) Property operating (232) (1,330) Real estate taxes (127) (1,411) Asset management fees (32) (251) Interest expense, net (143) (1,159) Other income and expense, net 199 (142) Gain (loss) on debt extinguishment 444 (111) Gain on sale of real estate 45,208 3,751 Gain on sale of derivatives 2,556 — Net income $ 48,203 $ 4,821 Company's share of net income $ 26,512 $ 2,652 Outside basis adjustments for IAGM's sales to the Company (27,175) 64 Equity in (losses) earnings of unconsolidated entities $ (663) $ 2,716

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2023
Notes and Loans Payable [Abstract]
Schedule of Debt	The following table summarizes the Company's debt as of March 31, 2023 and December 31, 2022: Interest As of March 31, 2023 As of December 31, 2022 Maturity Date Interest Rate Amount Interest Rate Amount Mortgages Payable Fixed rate mortgages payable Various Fixed 3.12% (a) (b) $ 171,080 3.95% (a) $ 109,812 Variable rate mortgages payable 11/2/2023 Variable 1M SOFR + 1.65% (c) 17,468 — — Total 188,548 109,812 Term Loans $200.0 million 5 years 9/22/2026 Fixed 2.71% (b) 100,000 2.71% (b) 100,000 $200.0 million 5 years 9/22/2026 Fixed 2.72% (b) 100,000 2.72% (b) 100,000 $200.0 million 5.5 years 3/22/2027 Fixed 2.77% (b) 50,000 2.77% (b) 50,000 $200.0 million 5.5 years 3/22/2027 Fixed 2.76% (b) 50,000 2.76% (b) 50,000 $200.0 million 5.5 years 3/22/2027 Variable 1M SOFR + 1.30% (c) (d) 100,000 1M LIBOR + 1.30% (c) 100,000 Total 400,000 400,000 Senior Notes $150.0 million 8/11/2029 Fixed 5.07% 150,000 5.07% 150,000 $100.0 million 8/11/2032 Fixed 5.20% 100,000 5.20% 100,000 Total 250,000 250,000 Revolving Line of Credit $350.0 million total capacity 9/22/2025 Variable 1M SOFR + 1.14% (c) — 1M SOFR + 1.14% (c) — Total debt 4.00% 838,548 4.08% 759,812 Debt discounts and issuance costs, net (5,562) (5,261) Debt, net $ 832,986 $ 754,551 (a) Interest rates reflect the weighted average of the Company's mortgages payable. (b) Interest rates reflect the fixed rates achieved through the Company's interest rate swaps. (c) As of March 31, 2023 and December 31, 2022, 1-Month Term SOFR was 4.80% and 4.36%, respectively. (d) As of April 3, 2023, the variable portion was swapped to 3.69%, achieving a fixed rate of 4.99% through the maturity date.
Schedule of Maturities for Outstanding Mortgage Indebtedness	The following table summarizes the scheduled maturities of the Company's mortgages payable as of March 31, 2023 for the remainder of 2023, each of the next four years, and thereafter. Scheduled maturities by year: As of March 31, 2023 2023 (a) $ 92,468 2024 15,700 2025 22,880 2026 — 2027 26,000 Thereafter 31,500 Total mortgage payable maturities $ 188,548 (a) Scheduled maturities during the year ended December 31, 2023 do not include two 12-month extension options available.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of Quantitative Disclosure of the Fair Value for Each Major Category of Assets and Liabilities	The following financial instruments are remeasured at fair value on a recurring basis: Fair Value Measurements as of March 31, 2023 December 31, 2022 Cash Flow Hedges: (a) (b) Level 1 Level 2 (c) Level 3 Level 1 Level 2 (d) Level 3 Derivative interest rate swap assets $ — $ 22,368 $ — $ — $ 26,721 $ — Derivative interest rate swap liabilities $ — $ (960) $ — $ — $ — $ — (a) During the twelve months subsequent to March 31, 2023, an estimated $11,281 of derivative interest rate balances recognized in accumulated comprehensive income will be reclassified into earnings. (b) As of March 31, 2023 and December 31, 2022, the Company determined that the credit valuation adjustments associated with nonperformance risk are not significant to the overall valuation of its derivatives. As a result, the Company's derivative valuations in their entirety are classified as Level 2 of the fair value hierarchy. (c) The Company's derivative assets or liabilities are recognized as a part of deferred costs and other assets, net or other liabilities, respectively.
Schedule of Fair Value of Financial Instruments Presented at Carrying Values	The table below summarizes the estimated fair value of financial instruments presented at carrying values in the Company's condensed consolidated financial statements as of March 31, 2023 and December 31, 2022: March 31, 2023 December 31, 2022 Carrying Value Estimated Market Carrying Value Estimated Market Mortgages payable $ 188,548 $ 180,975 6.72 % $ 109,812 $ 100,218 6.81 % Senior notes 250,000 241,916 5.66 % 250,000 235,820 6.05 % Term loans 400,000 400,762 4.78 % 400,000 401,170 5.11 % Revolving line of credit — — N/A — — N/A

Earnings Per Share and Equity_2

Earnings Per Share and Equity Transactions (Tables)	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table reconciles the amounts used in calculating basic and diluted earnings per share: Three months ended March 31 2023 2022 Numerator: Net income attributed to common shares $ 1,133 $ 9,501 Earnings allocated to unvested restricted shares — — Net income attributed to common shares - basic and diluted 1,133 9,501 Denominator: Weighted average common shares outstanding - basic 67,508,641 67,354,717 Dilutive effect of unvested restricted shares (a) 145,883 221,321 Weighted average common shares outstanding - diluted 67,654,524 67,576,038 Basic and diluted earnings per common share: Net income per common share - basic $ 0.02 $ 0.14 Net income per common share - diluted $ 0.02 $ 0.14 (a) For the three months ended March 31, 2023, the Company has excluded the anti-dilutive effect of market-based awards granted in 2023.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Share-based Payment Award, Valuation Assumptions	The following table summarizes the Company's significant assumptions used in the Monte Carlo simulation models: Three months ended Three months ended Volatility 34.00% 33.89% Risk free interest rate 4.45% 0.79% —% 1.76% Dividend Yield 3.20% 3.24%
Schedule of Restricted Stock Unit Activity	The following table summarizes the Company's RSU activity during the three months ended March 31, 2023: Unvested Time- Unvested Performance Weighted-Average Grant Outstanding as of January 1, 2023 123,427 712,051 $ 23.35 Shares granted 109,793 445,828 $ 18.08 Shares vested — (60,042) $ 31.40 Unearned performance shares added back to Share Limit — (69,803) $ 31.40 Outstanding as of March 31, 2023 233,220 1,028,034 $ 18.06

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Operating Lease Obligations Maturity	Future minimum operating lease obligations as of March 31, 2023, were as follows: Minimum Lease Payments Remaining 2023 $ 513 2024 628 2025 511 2026 517 2027 529 Thereafter 1,308 Total expected minimum lease obligation 4,006 Less: Amount representing interest (a) (755) Present value of net minimum lease payments $ 3,251 (a) Interest includes the amount necessary to reduce to present value the total expected minimum lease obligations calculated at the Company's incremental borrowing rate.

Organization (Details)

Organization (Details)	3 Months Ended
	Mar. 31, 2023 ft² unconsolidated_entity property	Mar. 31, 2022 ft² unconsolidated_entity property	Jan. 18, 2023 property	Dec. 31, 2022 unconsolidated_entity
Entity Information [Line Items]
Number of equity method investments | unconsolidated_entity	1
Unconsolidated Retail Properties at 100%
Entity Information [Line Items]
Number of managed retail properties	0	6
Gross leasable area (square feet) | ft²	0	1,562,000
Wholly-Owned Retail Properties
Entity Information [Line Items]
Number of retail properties	62	57
Gross leasable area (square feet) | ft²	10,295,000	9,081,000
IAGM
Entity Information [Line Items]
Number of properties acquired			4
IAGM Retail Fund LLC
Entity Information [Line Items]
Number of equity method investments | unconsolidated_entity	1	1		1
Ownership percentage	55%		100%	55%

Revenue Recognition - Minimum L

Revenue Recognition - Minimum Lease Payments (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Minimum Lease Payments:
Remaining 2023	$ 139,482
2024	175,355
2025	157,378
2026	137,903
2027	104,376
Thereafter	358,094
Total	$ 1,072,588

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Lease Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation of Revenue [Line Items]
Minimum base rent	$ 40,476	$ 35,048
Lease income, net	64,830	57,768
Reversal of uncollectible straight-line rent	199	494
Provision for uncollectible billed rent and recoveries	(285)	(236)
Real estate tax recoveries
Disaggregation of Revenue [Line Items]
Lease income, net	8,517	7,267
Common area maintenance, insurance, and other recoveries
Disaggregation of Revenue [Line Items]
Lease income, net	6,949	6,292
Ground rent income
Disaggregation of Revenue [Line Items]
Lease income, net	4,710	3,610
Amortization of market-lease intangibles and inducements, net
Disaggregation of Revenue [Line Items]
Lease income, net	1,516	2,547
Short-term and other lease income
Disaggregation of Revenue [Line Items]
Lease income, net	1,314	1,064
Termination fee income
Disaggregation of Revenue [Line Items]
Lease income, net	134	168
Straight-line rent adjustment, net
Disaggregation of Revenue [Line Items]
Lease income, net	710	663
Reversal of uncollectible billed rent and recoveries
Disaggregation of Revenue [Line Items]
Lease income, net	$ 590	$ 851

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details)	Mar. 31, 2023
Minimum
Disaggregation of Revenue [Line Items]
Remaining lease term	1 year
Maximum
Disaggregation of Revenue [Line Items]
Remaining lease term	76 years

Acquired Properties - Summary o

Acquired Properties - Summary of Retail Properties Acquired (Details) - Retail ft² in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($) ft²	Mar. 31, 2022 USD ($) ft²
Real Estate Properties [Line Items]
Gross leasable area (square feet) | ft²	1,124	527
Gross Acquisition Price	$ 221,600	$ 189,340
Assumption of Mortgage Debt	92,468	$ 57,500
Fair value assumption of mortgage debt	$ 692
Bay Colony
Real Estate Properties [Line Items]
Gross leasable area (square feet) | ft²	416
Gross Acquisition Price	$ 79,100
Assumption of Mortgage Debt	$ 41,969
Blackhawk Town Center
Real Estate Properties [Line Items]
Gross leasable area (square feet) | ft²	127
Gross Acquisition Price	$ 26,300
Assumption of Mortgage Debt	$ 13,008
Cyfair Town Center
Real Estate Properties [Line Items]
Gross leasable area (square feet) | ft²	433
Gross Acquisition Price	$ 79,200
Assumption of Mortgage Debt	$ 30,880
Stables Town Center
Real Estate Properties [Line Items]
Gross leasable area (square feet) | ft²	148
Gross Acquisition Price	$ 37,000
Assumption of Mortgage Debt	$ 6,611
Shops at Arbor Trails
Real Estate Properties [Line Items]
Gross leasable area (square feet) | ft²		357
Gross Acquisition Price		$ 112,190
Assumption of Mortgage Debt		$ 31,500
Escarpment Village
Real Estate Properties [Line Items]
Gross leasable area (square feet) | ft²		170
Gross Acquisition Price		$ 77,150
Assumption of Mortgage Debt		$ 26,000

Acquired Properties - Narrative

Acquired Properties - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Transaction costs capitalized	$ 78	$ 814

Disposed Properties (Details)

Disposed Properties (Details) - property	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
Number of properties disposed of	0	0

Investment in Unconsolidated _3

Investment in Unconsolidated Entities - Narrative (Details)			2 Months Ended	3 Months Ended
	Jan. 18, 2023 USD ($) property derivative_instrument	Jan. 03, 2023 USD ($)	Mar. 31, 2023 USD ($) unconsolidated_entity	Mar. 31, 2023 USD ($) unconsolidated_entity	Mar. 31, 2022 USD ($) unconsolidated_entity	Mar. 16, 2023 USD ($)	Dec. 31, 2022 USD ($) unconsolidated_entity	Dec. 31, 2021 USD ($)
Variable Interest Entity [Line Items]
Number of equity method investments | unconsolidated_entity			1	1
Gain on sale of real estate	$ 24,900,000
Distributions from unconsolidated entities				$ 79,255,000	$ 25,300,000
Net assets			$ 1,586,405,000	1,586,405,000	1,584,206,000		$ 1,603,909,000	$ 1,571,552,000
Gain on sale of derivatives	$ 1,400,000
IAGM
Variable Interest Entity [Line Items]
Gain on sale of real estate				45,208,000	3,751,000
Net assets			28,637,000	28,637,000			$ 127,299,000
Cash and cash equivalents			30,700,000	30,700,000
Gain on sale of derivatives				$ 2,556,000	$ 0
Interest Rate Swap
Variable Interest Entity [Line Items]
Number of instruments acquired | derivative_instrument	2
Notional amount	$ 75,000,000					$ 100,000,000
IAGM Retail Fund LLC
Variable Interest Entity [Line Items]
Gain on sale of derivatives	$ 2,600,000
IAGM
Variable Interest Entity [Line Items]
Number of properties acquired | property	4
Purchase price	$ 222,300,000
Assumed aggregate mortgage debt	$ 92,500,000
Distributions from unconsolidated entities			$ 71,400,000
IAGM Retail Fund LLC
Variable Interest Entity [Line Items]
Ownership percentage	100%		55%	55%			55%
Number of equity method investments | unconsolidated_entity			1	1	1		1
Gain on sale of real estate	$ 45,200,000
Deferred gain on real estates		$ 39,900,000

Investment in Unconsolidated _4

Investment in Unconsolidated Entities - Schedule of Equity Method Investments (Details) - Wholly-Owned Retail Properties $ in Thousands	Jan. 18, 2023 USD ($) ft²	Dec. 22, 2022 USD ($) ft²	Dec. 16, 2022 USD ($) ft²	Apr. 21, 2022 USD ($) ft²	Mar. 03, 2022 USD ($) ft²	Mar. 31, 2023 ft²	Mar. 31, 2022 ft²
Variable Interest Entity [Line Items]
Gross leasable area (square feet) | ft²						1,124,000	527,000
Equity Method Investment, Nonconsolidated Investee or Group of Investees | IAGM Retail Fund LLC | Stables Town Center I
Variable Interest Entity [Line Items]
Gross leasable area (square feet) | ft²		191,000
Price Plaza | Equity Method Investment, Nonconsolidated Investee or Group of Investees | Disposal Group, Disposed of by Sale, Not Discontinued Operations | IAGM Retail Fund LLC
Variable Interest Entity [Line Items]
Gross leasable area (square feet) | ft²					206,000
Gross Disposition Price					$ 39,100
IAGM's Gain (Loss) on Sale					3,751
The Company's Gain Deferral					0
Mortgage payable disposed of					$ 17,800
The Highlands of Flower Mound | Equity Method Investment, Nonconsolidated Investee or Group of Investees | Disposal Group, Disposed of by Sale, Not Discontinued Operations | IAGM Retail Fund LLC
Variable Interest Entity [Line Items]
Gross leasable area (square feet) | ft²				175,000
Gross Disposition Price				$ 38,000
IAGM's Gain (Loss) on Sale				1,244
The Company's Gain Deferral				$ 684
Stone Ridge Market | Equity Method Investment, Nonconsolidated Investee or Group of Investees | Disposal Group, Disposed of by Sale, Not Discontinued Operations | IAGM Retail Fund LLC
Variable Interest Entity [Line Items]
Gross leasable area (square feet) | ft²			219,000
Gross Disposition Price			$ 58,100
IAGM's Gain (Loss) on Sale			12,287
The Company's Gain Deferral			$ 6,758
Stables Town Center | Equity Method Investment, Nonconsolidated Investee or Group of Investees | Disposal Group, Disposed of by Sale, Not Discontinued Operations | IAGM Retail Fund LLC
Variable Interest Entity [Line Items]
Gross leasable area (square feet) | ft²	148,000	43,000
Gross Disposition Price	$ 37,000	$ 7,800
IAGM's Gain (Loss) on Sale	5,536	(244)
The Company's Gain Deferral	$ 3,045	$ 0
Bay Colony | Equity Method Investment, Nonconsolidated Investee or Group of Investees | Disposal Group, Disposed of by Sale, Not Discontinued Operations | IAGM Retail Fund LLC
Variable Interest Entity [Line Items]
Gross leasable area (square feet) | ft²	416,000
Gross Disposition Price	$ 79,100
IAGM's Gain (Loss) on Sale	22,327
The Company's Gain Deferral	$ 12,280
Blackhawk Town Center | Equity Method Investment, Nonconsolidated Investee or Group of Investees | Disposal Group, Disposed of by Sale, Not Discontinued Operations | IAGM Retail Fund LLC
Variable Interest Entity [Line Items]
Gross leasable area (square feet) | ft²	127,000
Gross Disposition Price	$ 26,300
IAGM's Gain (Loss) on Sale	12,632
The Company's Gain Deferral	$ 6,948
Cyfair Town Center | Equity Method Investment, Nonconsolidated Investee or Group of Investees | Disposal Group, Disposed of by Sale, Not Discontinued Operations | IAGM Retail Fund LLC
Variable Interest Entity [Line Items]
Gross leasable area (square feet) | ft²	433,000
Gross Disposition Price	$ 79,200
IAGM's Gain (Loss) on Sale	4,713
The Company's Gain Deferral	$ 2,592

Investment in Unconsolidated _5

Investment in Unconsolidated Entities - Combined Financial Information (Details) - USD ($) $ in Thousands		3 Months Ended
	Jan. 18, 2023	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Assets
Net investment properties		$ 2,222,118		$ 2,092,301
Other assets		55,823		51,145
Total assets		2,531,454		2,473,034
Liabilities and equity:
Mortgages debt, net		832,986		754,551
Other liabilities		33,550		28,287
Equity		1,586,405	$ 1,584,206	1,603,909	$ 1,571,552
Total liabilities and stockholders' equity		2,531,454		2,473,034
Carrying value of investments in unconsolidated entities		15,706		56,131
Operating expenses
Total income		65,205	58,786
Depreciation and amortization		(26,758)	(22,829)
Real estate taxes		(9,628)	(8,043)
Interest expense, net		(9,509)	(4,809)
Gain (loss) on debt extinguishment		0	(96)
Gain on sale of real estate	$ 24,900
Gain on sale of derivatives	$ 1,400
Net income		1,133	9,501
Equity in (losses) earnings of unconsolidated entities		(663)	2,716
IAGM
Liabilities and equity:
Outside basis difference, net		0		(14,738)
Operating expenses
Equity in (losses) earnings of unconsolidated entities		(663)	2,716
IAGM
Assets
Net investment properties		0		161,312
Other assets		32,690		65,565
Total assets		32,690		226,877
Liabilities and equity:
Mortgages debt, net		0		92,186
Other liabilities		4,053		7,392
Equity		28,637		127,299
Total liabilities and stockholders' equity		32,690		226,877
Company's share of equity		15,706		70,869
Carrying value of investments in unconsolidated entities		15,706		$ 56,131
Operating expenses
Total income		952	8,379
Depreciation and amortization		(622)	(2,905)
Property operating		(232)	(1,330)
Real estate taxes		(127)	(1,411)
Asset management fees		(32)	(251)
Interest expense, net		(143)	(1,159)
Other income and expense, net		199	(142)
Gain (loss) on debt extinguishment		444	(111)
Gain on sale of real estate		45,208	3,751
Gain on sale of derivatives		2,556	0
Net income		48,203	4,821
Company's share of net income		26,512	2,652
Outside basis adjustments for IAGM's sales to the Company		$ (27,175)	$ 64

Debt - Narrative (Details)

Debt - Narrative (Details)				3 Months Ended
	Feb. 06, 2023 USD ($)	Aug. 11, 2022 USD ($)	Sep. 22, 2021 USD ($) tranche extension	Mar. 31, 2023 USD ($) interest_rate_swap extension	Mar. 16, 2023 USD ($) interest_rate_swap	Jan. 18, 2023 USD ($) derivative_instrument	Dec. 31, 2022
Debt Instrument [Line Items]
Number of tranches | tranche			2
Number of interest rate forward swaps | interest_rate_swap				4	1
Interest rate (percent)				4%			4.08%
Interest Rate Swap
Debt Instrument [Line Items]
Number of instruments acquired | derivative_instrument						2
Notional amount					$ 100,000,000	$ 75,000,000
Fixed interest rate (percent)					4.99%
Mortgages payable
Debt Instrument [Line Items]
Extinguishment of mortgage payable	$ 13,700,000
Number of extension options | extension				2
Extension option on line of credit, period				12 months
Revolving line of credit | Revolving line of credit
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 350,000,000
Number of extension options | extension			2
Extension option on line of credit, period			6 months
Unsecured Debt | Term loans
Debt Instrument [Line Items]
Debt instrument, face amount			$ 400,000,000
Unsecured Debt | Term Loan, Tranche One
Debt Instrument [Line Items]
Debt instrument, face amount			$ 200,000,000
Debt instrument, term			5 years
Unsecured Debt | Term Loan, Tranche Two
Debt Instrument [Line Items]
Debt instrument, face amount			$ 200,000,000
Debt instrument, term			5 years 6 months
Secured Debt | 5.5 year - variable rate
Debt Instrument [Line Items]
Debt instrument, face amount				$ 200,000,000
Debt instrument, term				5 years 6 months
Secured Debt | 5.5 year - variable rate | Interest Rate Swap
Debt Instrument [Line Items]
Interest rate (percent)					3.69%
Senior notes
Debt Instrument [Line Items]
Debt instrument, face amount		$ 250,000,000
Aggregate principal amount (in percentage)		5%
Debt instrument, redemption price ( in percentage)		100%
Senior notes | 5.07%, Senior Notes, Series A, Due 2029
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 150,000,000
Debt instrument, face amount		$ 150,000,000
Interest rate (percent)		5.07%		5.07%			5.07%
Senior notes | 5.20%, Senior Notes, Series B, Due 2032
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 100,000,000
Debt instrument, face amount		$ 100,000,000
Interest rate (percent)		5.20%		5.20%			5.20%

Debt - Summary of Debt (Details

Debt - Summary of Debt (Details) - USD ($)	3 Months Ended	6 Months Ended	12 Months Ended
	Mar. 31, 2023	Jun. 30, 2022	Dec. 31, 2022	Apr. 03, 2023	Mar. 16, 2023	Aug. 11, 2022
Debt Instrument [Line Items]
Interest rate (percent)	4%		4.08%
Amount	$ 838,548,000		$ 759,812,000
Debt discounts and issuance costs, net	(5,562,000)		(5,261,000)
Debt, net	832,986,000		754,551,000
Interest Rate Swap
Debt Instrument [Line Items]
Fixed interest rate (percent)					4.99%
Subsequent Event | Interest Rate Swap
Debt Instrument [Line Items]
Fixed interest rate (percent)				4.99%
Mortgages payable
Debt Instrument [Line Items]
Amount	$ 188,548,000		$ 109,812,000
Mortgages payable | Fixed rate mortgages payable
Debt Instrument [Line Items]
Interest rate (percent)	3.12%		3.95%
Amount	$ 171,080,000		$ 109,812,000
Mortgages payable | Variable rate mortgages payable
Debt Instrument [Line Items]
Amount	$ 17,468,000		$ 0
Mortgages payable | Variable rate mortgages payable | One-month SOFR
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	1.65%		0%
Term Loans
Debt Instrument [Line Items]
Amount	$ 400,000,000		$ 400,000,000
Term Loans | One-month SOFR
Debt Instrument [Line Items]
Debt instrument, variable rate, percent	4.80%
Term Loans | One-month LIBOR
Debt Instrument [Line Items]
Debt instrument, variable rate, percent			4.36%
Term Loans | 5 year - fixed rate
Debt Instrument [Line Items]
Interest rate (percent)	2.71%		2.71%
Amount	$ 100,000,000		$ 100,000,000
Debt instrument, face amount	$ 200,000,000
Debt instrument, term	5 years
Term Loans | 5 year - fixed rate
Debt Instrument [Line Items]
Interest rate (percent)	2.72%		2.72%
Amount	$ 100,000,000		$ 100,000,000
Debt instrument, face amount	$ 200,000,000
Debt instrument, term	5 years
Term Loans | 5.5 year - fixed rate
Debt Instrument [Line Items]
Interest rate (percent)	2.77%		2.77%
Amount	$ 50,000,000		$ 50,000,000
Debt instrument, face amount	$ 200,000,000
Debt instrument, term	5 years 6 months
Term Loans | 5.5 year- fixed rate
Debt Instrument [Line Items]
Interest rate (percent)	2.76%		2.76%
Amount	$ 50,000,000		$ 50,000,000
Debt instrument, face amount	$ 200,000,000
Debt instrument, term	5 years 6 months
Term Loans | 5.5 year - variable rate
Debt Instrument [Line Items]
Amount	$ 100,000,000		100,000,000
Debt instrument, face amount	$ 200,000,000
Debt instrument, term	5 years 6 months
Term Loans | 5.5 year - variable rate | Interest Rate Swap
Debt Instrument [Line Items]
Interest rate (percent)					3.69%
Term Loans | 5.5 year - variable rate | Subsequent Event | Interest Rate Swap
Debt Instrument [Line Items]
Interest rate (percent)				3.69%
Term Loans | 5.5 year - variable rate | One-month SOFR
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	1.30%
Term Loans | 5.5 year - variable rate | One-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate (percent)		1.30%
Senior notes
Debt Instrument [Line Items]
Amount	$ 250,000,000		$ 250,000,000
Debt instrument, face amount						$ 250,000,000
Senior notes | 5.07% - fixed rate
Debt Instrument [Line Items]
Interest rate (percent)	5.07%		5.07%			5.07%
Amount	$ 150,000,000		$ 150,000,000
Debt instrument, face amount						$ 150,000,000
Maximum borrowing capacity	$ 150,000,000
Senior notes | 5.20%, Senior Notes, Series B, Due 2032
Debt Instrument [Line Items]
Interest rate (percent)	5.20%		5.20%			5.20%
Amount	$ 100,000,000		$ 100,000,000
Debt instrument, face amount						$ 100,000,000
Maximum borrowing capacity	100,000,000
Revolving Line of Credit | Revolving line of credit
Debt Instrument [Line Items]
Amount	0		$ 0
Maximum borrowing capacity	$ 350,000,000
Revolving Line of Credit | One-month SOFR | Revolving line of credit
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	1.14%

Debt - Mortgage Maturities (Det

Debt - Mortgage Maturities (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($) extension	Dec. 31, 2022 USD ($)
Schedule of maturities for outstanding mortgage indebtedness
2027	$ 26,000
Total mortgage payable maturities	838,548	$ 759,812
Mortgages payable
Schedule of maturities for outstanding mortgage indebtedness
2023	92,468
2024	15,700
2025	22,880
2026	0
Thereafter	31,500
Total mortgage payable maturities	$ 188,548	$ 109,812
Number of extension options | extension	2
Extension option on line of credit, period	12 months

Fair Value Measurements - Recur

Fair Value Measurements - Recurring Measurements (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022
Cash Flow Hedges:
Deferred amounts in accumulated comprehensive income (loss) that will be reclassified into earnings	$ 11,281
Fair Value, Measurements, Recurring | Level 1
Cash Flow Hedges:
Derivative interest rate swaps assets	0	$ 0
Derivative interest rate swaps liabilities		0	$ 0
Fair Value, Measurements, Recurring | Level 2
Cash Flow Hedges:
Derivative interest rate swaps assets	22,368	26,721
Derivative interest rate swaps liabilities		0	(960)
Fair Value, Measurements, Recurring | Level 3
Cash Flow Hedges:
Derivative interest rate swaps assets	$ 0	0
Derivative interest rate swaps liabilities		$ 0	$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($)	Mar. 31, 2023	Mar. 31, 2022
Fair Value, Measurements, Nonrecurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Nonrecurring fair value measurements	$ 0	$ 0

Fair Value Measurements - Finan

Fair Value Measurements - Financial Instruments Not Measure at Fair Value (Details) $ in Thousands	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Mortgages payable | Market Interest Rate
Debt Instrument [Line Items]
Fair value measurement input (percent)	0.0672	0.0681
Mortgages payable | Carrying Value
Debt Instrument [Line Items]
Debt instrument, fair value disclosure	$ 188,548	$ 109,812
Mortgages payable | Estimated  Fair Value
Debt Instrument [Line Items]
Debt instrument, fair value disclosure	$ 180,975	$ 100,218
Senior notes
Debt Instrument [Line Items]
Fair value measurement input (percent)		0.0605
Senior notes | Market Interest Rate
Debt Instrument [Line Items]
Fair value measurement input (percent)	0.0566
Senior notes | Carrying Value
Debt Instrument [Line Items]
Debt instrument, fair value disclosure	$ 250,000	$ 250,000
Senior notes | Estimated  Fair Value
Debt Instrument [Line Items]
Debt instrument, fair value disclosure	$ 241,916	$ 235,820
Term Loans | Market Interest Rate
Debt Instrument [Line Items]
Fair value measurement input (percent)	0.0478	0.0511
Term Loans | Carrying Value
Debt Instrument [Line Items]
Debt instrument, fair value disclosure	$ 400,000	$ 400,000
Term Loans | Estimated  Fair Value
Debt Instrument [Line Items]
Debt instrument, fair value disclosure	400,762	401,170
Revolving line of credit | Carrying Value
Debt Instrument [Line Items]
Line of credit and term loan, estimated fair value	0	0
Revolving line of credit | Estimated  Fair Value
Debt Instrument [Line Items]
Line of credit and term loan, estimated fair value	$ 0	$ 0

Earnings Per Share and Equity_3

Earnings Per Share and Equity Transactions - Reconciliation of Basic and Diluted Income per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Numerator:
Net income attributed to common shares	$ 1,133	$ 9,501
Earnings allocated to unvested restricted shares	0	0
Net income attributed to common shares - basic	1,133	9,501
Net income attributed to common shares - diluted	$ 1,133	$ 9,501
Denominator:
Weighted average common shares outstanding - basic (in shares)	67,508,641	67,354,717
Dilutive effect of unvested restricted shares (in shares)	145,883	221,321
Weighted-average common shares outstanding - diluted (in shares)	67,654,524	67,576,038
Basic and diluted earnings per common share:
Net income per common share - basic (in dollars per share)	$ 0.02	$ 0.14
Net income per common share - diluted (in dollars per share)	$ 0.02	$ 0.14

Earnings Per Share and Equity_4

Earnings Per Share and Equity Transactions - Narrative (Details) - USD ($)	Mar. 07, 2022	Feb. 23, 2022
Class of Stock [Line Items]
Stock repurchase program, authorized amount		$ 150,000,000
Private Placement
Class of Stock [Line Items]
Sale of stock consideration received on transaction	$ 250,000,000

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost not yet recognized	$ 16,181
Stock-based compensation expense	$ 1,967	$ 1,082
Restricted Stock Units (RSUs) | 2015 Incentive Award Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (shares)	3,000,000
Number of shares available for grant (shares)	574,423
Market performance thresholds period	3 years

Stock-Based Compensation - Sign

Stock-Based Compensation - Significant Assumptions Used in the Monte Carlo simulation Models (Details) - Unvested Time- Based RSUs	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate - maximum		1.76%
2015 Incentive Award Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility	34%	33.89%
Risk-free interest rate - minimum		0.79%
Risk free interest rate	4.45%
Dividend Yield	3.20%	3.24%

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Restricted Stock Activity (Details)	3 Months Ended
	Mar. 31, 2023 $ / shares shares
Unvested Time- Based RSUs
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding as beginning (in shares)	123,427
Shares granted (in shares)	109,793
Shares vested (in shares)	0
Unearned performance shares added back to share limit (in shares)	0
Outstanding as ending (in shares)	233,220
Weighted-Average Grant Date Value Per Share
Outstanding as beginning (in dollars per share) | $ / shares	$ 23.35
Shares granted (in dollars per share) | $ / shares	18.08
Shares vested (in dollars per share) | $ / shares	31.40
Unearned performance shares added back to share limit (in dollars per share) | $ / shares	31.40
Outstanding as ending (in dollars per share) | $ / shares	$ 18.06
Unvested Performance and Market-Based RSUs
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding as beginning (in shares)	712,051
Shares granted (in shares)	445,828
Shares vested (in shares)	(60,042)
Unearned performance shares added back to share limit (in shares)	(69,803)
Outstanding as ending (in shares)	1,028,034

Commitments and Contingencies -

Commitments and Contingencies - Future Minimum Lease Payments (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Minimum Lease Payments
Remaining 2023	$ 513
2024	628
2025	511
2026	517
2027	529
Thereafter	1,308
Total expected minimum lease obligation	4,006
Less: Amount representing interest	(755)
Present value of net minimum lease payments	$ 3,251