Quarterly report [Sections 13 or 15(d)]

Debt, Net (Tables)

v3.25.3
Debt, Net (Tables)
 9 Months Ended
Sep. 30, 2025
Debt Disclosure [Abstract]  
Schedule of Debt The following table summarizes the carrying value of debt as of and the debt activity for the periods indicated below (in thousands):
Nine Months Ended September 30, 2025
Balance as of December 31, 2024
 Debt Issuances Repayments, Extinguishment and Assumptions Accretion and Amortization
Balance as of September 30, 2025
Mortgages payable:
Outstanding balance $ 373,000  $ —  $ —  $ —  $ 373,000 
Deferred costs (1,778) —  —  550  (1,228)
Mortgages payable, net 371,222  —  —  550  371,772 
Credit facility revolver 119,000  13,000  (22,000) —  110,000 
Total debt $ 490,222  $ 13,000  $ (22,000) $ 550  $ 481,772 
Schedule of Maturities of Long-Term Debt
The following table summarizes the scheduled aggregate principal repayments due on the Company’s debt outstanding as of September 30, 2025 (in thousands):
Total
October 1, 2025 to December 31, 2025
 $ — 
2026 110,000 
2027 355,000 
Thereafter 18,000 
Total $ 483,000 
Schedule of Mortgage Notes Payable
The Company’s mortgages payable consisted of the following as of September 30, 2025 (dollars in thousands):
Encumbered Properties
Net Carrying Value of Collateralized Properties (1)
Outstanding Balance Weighted Average Interest Rate Weighted Average Years to Maturity
Fixed-rate debt 20  $ 429,782  $ 373,000  5.02  % 1.6
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(1)Net carrying value is real estate assets, including right-of-use assets, net of real estate liabilities.