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Debt (Tables) | 6 Months Ended
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Jun. 30, 2024
Debt Instruments [Abstract] |
Schedule of Debt | Debt consisted of the following ($ in thousands):
| June 30, 2024 |  | December 31, 2023
Revolving credit facility - unsecured | $ | 244,500 |  |  | $ | 245,000 |
Bank term loans - unsecured | 200,000 |  |  | 200,000 |
2031 Senior Notes - unsecured, net of discount of $2,117 and $2,278 | 397,883 |  |  | 397,722 |
Private placement notes - unsecured | 225,000 |  |  | 225,000 |
Fannie Mae term loans - secured, non-recourse | 76,031 |  |  | 76,241 |
Unamortized loan costs | (7,379) |  |  | (8,912) |
| $ | 1,136,035 |  |  | $ | 1,135,051 |
Schedule of Maturities of Long-term Debt | Aggregate principal maturities of debt as of June 30, 2024 were as follows ($ in thousands):
Remainder of 2024 | $ | 75,425 |
2025 | 325,606 |
2026 | 244,500 |
2027 | 100,000 |
2028 | — |
2029 | — |
Thereafter | 400,000 |
| 1,145,531 |
Less: discount | (2,117) |
Less: unamortized loan costs | (7,379) |
| $ | 1,136,035 |
Schedule of Unsecured Term Loans | Our unsecured private placement notes as of June 30, 2024, 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):
| Three Months Ended |  | Six Months Ended
| June 30, |  | June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Interest expense on debt at contractual rates | $ | 14,029 |  |  | $ | 13,612 |  |  | $ | 28,116 |  |  | $ | 27,052 |
Capitalized interest | (48) |  |  | (22) |  |  | (87) |  |  | (41) |
Amortization of debt issuance costs, debt discount and other | 873 |  |  | 604 |  |  | 1,694 |  |  | 1,210 |
Total interest expense | $ | 14,854 |  |  | $ | 14,194 |  |  | $ | 29,723 |  |  | $ | 28,221 |

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