Quarterly report [Sections 13 or 15(d)]

Debt, Net (Tables)

v3.26.3
Debt, Net (Tables)
 9 Months Ended
Sep. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Debt The following table summarizes the carrying value of debt as of the date and the debt activity for the periods indicated below (in thousands):
Nine Months Ended September 30, 2026
Balance as of December 31, 2025
 Debt Issuances Repayments, Extinguishment and Assumptions Amortization
Balance as of September 30, 2026
Mortgages payable:
Outstanding balance $ 373,000  $ —  $ (38,506) $ —  $ 334,494 
Deferred financing costs (1,043) (2,536) 284  756  (2,539)
Mortgages payable, net 371,957  (2,536) (38,222) 756  331,955 
Credit facility revolver
Original Revolving Facility 92,000  18,000  (110,000) —  — 
New Revolving Facility —  127,000  (25,000) —  102,000 
Credit facility revolver 92,000  145,000  (135,000) —  102,000 
Total debt $ 463,957  $ 142,464  $ (173,222) $ 756  $ 433,955 
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, 2026 (in thousands). The maturity dates reflected in the table exclude any borrower extension options under the Company’s debt obligations.
Total
October 1, 2026 to December 31, 2026
 $ — 
2027 — 
2028 102,000 
2029 316,494 
2030 — 
2031 18,000 
Total $ 436,494 
Schedule of Mortgage Notes Payable
The Company’s consolidated debt consisted of the following as of September 30, 2026 (dollars in thousands):
Encumbered Properties
Net Carrying Value of Collateralized Properties (1)
Outstanding Balance
Weighted Average Interest Rate (2)
Weighted Average Years to Maturity
Fixed-rate debt 19  $ 398,836  $ 334,494  5.02  % 2.5
Variable-rate debt 29  508,654  102,000  6.62  % 1.4
Total 48  $ 907,490  $ 436,494 
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(1)Net carrying value is real estate assets, including right-of-use assets, net of real estate liabilities.
(2)The weighted average interest rate for variable-rate debt represents the interest rate in effect on the New Revolving Facility as of September 30, 2026.