XML 41 R31.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Debt (Tables)
 6 Months Ended
Jun. 30, 2024
Debt Instruments [Abstract]  
Schedule of Debt
Debt consisted of the following ($ in thousands):
June 30, 2024December 31, 2023
Revolving credit facility - unsecured$244,500 $245,000 
Bank term loans - unsecured200,000 200,000 
2031 Senior Notes - unsecured, net of discount of $2,117 and $2,278
397,883 397,722 
Private placement notes - unsecured225,000 225,000 
Fannie Mae term loans - secured, non-recourse76,031 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 
2025325,606 
2026244,500 
2027100,000 
2028— 
2029— 
Thereafter400,000 
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):

AmountInceptionMaturityFixed Rate
$75,000 September 2016September 20243.93%
50,000 November 2015November 20254.33%
100,000 January 2015January 20274.51%
$225,000 
Schedule of Interest Expense
The following table summarizes interest expense ($ in thousands):
Three Months EndedSix Months Ended
June 30,June 30,
2024202320242023
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 other873 604 1,694 1,210 
Total interest expense$14,854 $14,194 $29,723 $28,221