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FAIR VALUE MEASUREMENTS (Tables) | 9 Months Ended
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Sep. 30, 2025
Fair Value Disclosures [Abstract] |
Schedule of Interest Rate Swap Derivatives Measured at Fair Value | Information regarding the Company's interest rate swaps measured at fair value, which are classified within Level 2 of the GAAP fair value hierarchy, is presented below (dollars in thousands):
|  |  |  |  |  | Fair Value
|  | Number of Contracts |  | Notional Amount |  | Other Assets, net |  | Interest Rate Swap Liabilities
As of September 30, 2025 |  |  |  |  |  |  |  |
Interest Rate Swaps |  | 10 |  | $ | 860,000 |  |  | $ | 7,513 |  |  | $ | 4,481 |
As of December 31, 2024 |  |  |  |  |  |  |  |
Interest Rate Swaps |  | 12 |  | $ | 1,085,000 |  |  | $ | 22,596 |  |  | $ | 471 |
The following table presents the effect of our derivative instruments on our condensed consolidated financial statements (dollars in thousands):
Fair value at December 31, 2023 | $ | 26,160 |
(Gains) and losses on interest rate swaps reclassified into interest expense from accumulated other comprehensive income (loss) | (26,572) |
Unrealized gains and realized (losses) on interest rate swaps and forward starting swaps included in accumulated other comprehensive income (loss) | 5,760 |
Fair value at September 30, 2024 | $ | 5,348 |
Fair value at December 31, 2024 | $ | 22,125 |
(Gains) and losses on interest rate swaps reclassified into interest expense from accumulated other comprehensive income (loss) | (8,748) |
Unrealized and realized losses on interest rate swaps and forward starting swaps included in accumulated other comprehensive income (loss) | (10,345) |
Fair value at September 30, 2025 | $ | 3,032 |
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments | The following table presents the carrying value and estimated fair value of our fixed rate private placement notes and mortgages (dollars in thousands):
|  | Carrying Value(1) |  | Fair Value
|  | September 30, 2025 |  | December 31, 2024 |  | September 30, 2025 |  | December 31, 2024
Liabilities |  |  |  |  |  |  |  |
Private Placement Notes |  | $ | 1,950,000 |  |  | $ | 1,950,000 |  |  | $ | 1,860,845 |  |  | $ | 1,774,291 |
Mortgage Notes |  | 199,167 |  |  | 200,793 |  |  | 194,807 |  |  | 190,966 |
(1) Carrying value represents the principal balance outstanding

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- Definition Tabular disclosure of financial instrument measured at fair value on recurring or nonrecurring basis. Includes, but is not limited to, instrument classified in shareholders' equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 100 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-100 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 + Details
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- Definition Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements. + References No definition available. + Details
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