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DERIVATIVE INSTRUMENTS, HEDGING ACTIVITIES AND OTHER COMPREHENSIVE INCOME (Tables) | 6 Months Ended
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Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Terms and Fair Values of Derivative Financial Instruments | The following table summarizes the terms and fair values of the Company’s derivative financial instruments that were designated and qualified as part of a hedging relationship as of June 30, 2025 and December 31, 2024 (dollars in thousands):
|  |  |  |  |  |  |  |  |  |  |  |  |  | Fair Value Assets (Liabilities)(1)
Type of Hedge |  | Number of Instruments |  | Aggregate Notional |  | Reference Rate |  | Interest Rate |  | Effective Date |  | Maturity Date |  | June 30, 2025 |  | December 31, 2024
Cash Flow |  | Four |  | $ | 250,000 |  |  | SOFR |  | 2.99 | % |  | 12/1/2022 |  | 10/24/2025 |  | $ | 1,006 |  |  | $ | 2,307 |
Cash Flow |  | Two |  | 100,000 |  |  | SOFR |  | 2.66 | % |  | 8/1/2022 |  | 8/1/2025 |  | 143 |  |  | 884 |
Cash Flow |  | Two |  | 200,000 |  |  | SOFR |  | 2.37 | % |  | 11/22/2023 |  | 8/1/2025 |  | 336 |  |  | 2,101 |
Cash Flow(2) |  | Three |  | 150,000 |  |  | SOFR |  | 1.68 | % |  | 8/15/2022 |  | 7/17/2026 |  | 3,234 |  |  | 5,316 |
|  |  |  | $ | 700,000 |  |  |  |  |  |  |  |  |  |  | $ | 4,719 |  |  | $ | 10,608 |
Fair Value(3) |  | Two |  | $ | 155,000 |  |  | SOFR |  | SOFR + 3.70% |  | 4/23/2021 |  | 9/10/2025 |  | $ | (1,191) |  |  | $ | (3,937) |
(1)Derivatives in an asset position are included within “Prepaid and other assets” and derivatives in a liability position are included within “Accounts payable and accrued expenses” in the accompanying consolidated balance sheets. (2)These interest rate swaps are expected to be assigned to the Company’s $300M Term Loan effective August 1, 2025. (3)The derivative agreements swap a blended fixed rate of 4.52% for a blended floating rate of three-month SOFR plus 3.70%.

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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References No definition available. + Details
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