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Subsequent Events
6 Months Ended
Jun. 30, 2026
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
The Company identified the following events subsequent to June 30, 2026 that are not recognized in the financial statements.

On July 1, 2026, the Company redeemed in full at maturity $50.0 million in aggregate principal amount of unsecured notes.

On July 1, 2026, the lease term for the Company’s lease agreement for its headquarters in Boston, Massachusetts commenced. Accordingly, on July 1, 2026, the related right-of-use assets and corresponding operating lease liabilities of approximately $15.1 million were recorded.

On July 16, 2026, the Company entered into an amended and restated loan agreement (the “Amended Term Loan Agreement”) with Wells Fargo Bank, National Association, and the other lenders named therein, to amend and restate the Company’s $150.0 million unsecured term loan that was set to mature on March 15, 2027 (the “Unsecured Term Loan A”). Borrowings under the Amended Unsecured Term Loan A (defined below), at the Company’s election, bear interest based on a Base Rate, Term SOFR, or Daily Simple SOFR (each as defined in the Amended Term Loan Agreement), plus an applicable spread based on the Company’s debt rating and leverage ratio (each as defined in the Amended Term Loan Agreement). The Company entered into the Amended Term Loan Agreement to (i) combine the Unsecured Term Loan A and the Company’s $200.0 million unsecured term loan that was set to mature on March 23, 2029, into one senior unsecured term loan in the aggregate principal amount of $350.0 million (the “Amended Unsecured Term Loan A”), (ii) extend the maturity date to January 16, 2032 and (iii) reduce, by five basis points (but not below zero), the applicable spread based on the Company’s debt rating and leverage ratio.

On July 16, 2026, the Company entered into amendments (the “Amendments”) to each of the Company’s $1.0 billion unsecured credit facility maturing September 7, 2029, $300.0 million unsecured term loan maturing March 14, 2031 (the “Unsecured Term Loan G”), $187.5 million unsecured term loan maturing January 25, 2028 (the “Unsecured Term Loan H”), and $187.5 million unsecured term loan maturing January 25, 2028 (the “Unsecured Term Loan I”). Borrowings under the unsecured credit facility and the Unsecured Term Loans G, H and I, at the Company’s election, bear interest based on a Base Rate, Term SOFR, or Daily Simple SOFR (each as defined in the applicable loan agreement, as amended), plus an applicable
spread based on the Company’s debt rating and leverage ratio (each as defined in the applicable loan agreement, as amended). The Company entered into the Amendments to reduce, by five basis points (but not below zero), the applicable spread based on the Company’s debt rating and leverage ratio. The other material terms of each of the unsecured credit facility and the Unsecured Term Loans G, H and I remain unchanged.

On July 20, 2026, in connection with the Amended Unsecured Term Loan A, the Company entered into two interest rate swaps with an aggregate notional value of $150.0 million which fix Daily SOFR at 3.994% effective March 15, 2027 and mature on January 16, 2032, and two interest rate swaps with an aggregate notional value of $200.0 million which fix Daily SOFR at 3.9885% effective March 25, 2027 and mature on January 16, 2032.