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Debt (Tables) | 12 Months Ended
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Dec. 31, 2023
Debt Instruments [Abstract] |
Schedule of Long-term Debt Instruments | Debt consists of the following ($ in thousands):
| December 31, 2023 |  | December 31, 2022
Revolving credit facility - unsecured | $ | 245,000 |  |  | $ | 42,000 |
Bank term loans - unsecured | 200,000 |  |  | 240,000 |
2031 Senior Notes - unsecured, net of discount of $2,278 and $2,600 | 397,722 |  |  | 397,400 |
Private placement notes - unsecured | 225,000 |  |  | 400,000 |
Fannie Mae term loans - secured, non-recourse | 76,241 |  |  | 76,649 |
Unamortized loan costs | (8,912) |  |  | (8,538) |
| $ | 1,135,051 |  |  | $ | 1,147,511 |
Schedule of Maturities of Long-term Debt | Aggregate principal maturities of debt as of December 31, 2023 for each of the next five years and thereafter are included in the table below. These maturities do not include the impact of any debt incurred or repaid subsequent to December 31, 2023 ($ in thousands):
For The Year Ending December 31, | Amount
2024 | $ | 75,425 |
2025 | 325,816 |
2026 | 245,000 |
2027 | 100,000 |
2028 | — |
Thereafter | 400,000 |
| 1,146,241 |
Less: discount | (2,278) |
Less: unamortized loan costs | (8,912) |
| $ | 1,135,051 |
Schedule of Unsecured Term Loans | Our remaining unsecured private placement notes as of December 31, 2023, payable interest-only, are summarized below ($ in thousands):
Amount |  | Inception |  | Maturity |  | Fixed Rate
$ | 75,000 |  |  | September 2016 |  | September 2024 |  | 3.93 | %
50,000 |  |  | November 2015 |  | November 2025 |  | 4.33 | %
100,000 |  |  | January 2015 |  | January 2027 |  | 4.51 | %
$ | 225,000 |  |  |  |  |  |  |
Schedule of Interest Expense | The following table summarizes interest expense ($ in thousands):
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Interest expense on debt at contractual rates | $ | 55,603 |  |  | $ | 42,487 |  |  | $ | 40,866 |
Losses reclassified from accumulated other |  |  |  |  |
comprehensive income into interest expense | — |  |  | — |  |  | 7,286 |
Capitalized interest | (90) |  |  | (46) |  |  | (40) |
Amortization of debt issuance costs, debt discount and other | 2,647 |  |  | 2,476 |  |  | 2,698 |
Total interest expense | $ | 58,160 |  |  | $ | 44,917 |  |  | $ | 50,810 |

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