Quarterly report pursuant to Section 13 or 15(d)

Debt, Net (Tables)

v3.24.3
Debt, Net (Tables)
 9 Months Ended
Sep. 30, 2024
Debt Disclosure [Abstract]  
Schedule of Debt The following table summarizes the carrying value of debt as of September 30, 2024 and December 31, 2023, and the debt activity for the nine months ended September 30, 2024 (in thousands):
Nine Months Ended September 30, 2024
Balance as of December 31, 2023
 Debt Issuances Repayments, Extinguishment and Assumptions Accretion and Amortization
Balance as of September 30, 2024
Mortgages payable:
Outstanding balance $ 355,000  $ —  $ —  $ —  $ 355,000 
Deferred costs (2,144) —  —  517  (1,627)
Mortgages payable, net 352,856  —  —  517  353,373 
Credit facility revolver 116,000  28,000  (14,000) —  130,000 
Total debt $ 468,856  $ 28,000  $ (14,000) $ 517  $ 483,373 
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, 2024 (in thousands):
Total
October 1, 2024 to December 31, 2024
 $ — 
2025 — 
2026 130,000 
2027 355,000 
Total $ 485,000 
Schedule of Mortgage Notes Payable
The Company’s mortgages payable consisted of the following as of September 30, 2024 (dollars in thousands):
Encumbered Properties
Net Carrying Value of Collateralized Properties (1)
Outstanding Balance Interest Rate Years to Maturity
Fixed-rate debt 19  $ 408,829  $ 355,000  4.97  % 2.4
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(1)Net carrying value is real estate assets, including right-of-use assets, net of real estate liabilities.