Annual report [Section 13 and 15(d), not S-K Item 405]

Debt, Net (Tables)

v3.25.0.1
Debt, Net (Tables)
 12 Months Ended
Dec. 31, 2024
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):
Year Ended December 31, 2024
Balance as of December 31, 2023
 Debt Issuances Repayments, Extinguishment and Assumptions Accretion and Amortization
Balance as of December 31, 2024
Mortgages payable:
Outstanding balance $ 355,000  $ 18,000  $ —  $ —  $ 373,000 
Deferred costs (2,144) (332) —  698  (1,778)
Mortgages payable, net 352,856  17,668  —  698  371,222 
Credit facility revolver 116,000  36,000  (33,000) —  119,000 
Total debt $ 468,856  $ 53,668  $ (33,000) $ 698  $ 490,222 
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 December 31, 2024 (in thousands):
Total
2025 $ — 
2026 119,000 
2027 355,000 
2028 — 
2029 — 
Thereafter 18,000 
Total $ 492,000 
Schedule of Mortgage Notes Payable
The Company’s mortgages payable consisted of the following as of December 31, 2024 (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  $ 439,171  $ 373,000  5.02  % 2.3
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(1)Net carrying value is real estate assets, including right-of-use assets, net of real estate liabilities.