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Debt (Tables)
 9 Months Ended
Sep. 30, 2024
Debt Instruments [Abstract]  
Schedule of Debt
Debt consisted of the following ($ in thousands):
September 30, 2024December 31, 2023
Revolving credit facility - unsecured$319,000 $245,000 
Bank term loans - unsecured200,000 200,000 
2031 Senior Notes - unsecured, net of discount of $2,037 and $2,278
397,963 397,722 
Private placement notes - unsecured150,000 225,000 
Fannie Mae term loans - secured, non-recourse75,925 76,241 
Unamortized loan costs(6,586)(8,912)
$1,136,302 $1,135,051 
Schedule of Maturities of Long-term Debt
Aggregate principal maturities of debt as of September 30, 2024 were as follows ($ in thousands):

Remainder of 2024$425 
2025325,500 
2026319,000 
2027100,000 
2028— 
2029— 
Thereafter400,000 
1,144,925 
Less: discount(2,037)
Less: unamortized loan costs(6,586)
$1,136,302 
Schedule of Unsecured Term Loans
Our unsecured private placement notes outstanding as of September 30, 2024, payable interest only, are summarized below ($ in thousands):

AmountInceptionMaturityFixed Rate
$50,000 November 2015November 20254.33%
100,000 January 2015January 20274.51%
$150,000 
Schedule of Interest Expense
The following table summarizes interest expense ($ in thousands):
Three Months EndedNine Months Ended
September 30,September 30,
2024202320242023
Interest expense on debt at contractual rates$14,131 $14,387 $42,247 $41,439 
Capitalized interest(65)(21)(152)(61)
Amortization of debt issuance costs, debt discount and other873 720 2,568 1,930 
Total interest expense$14,939 $15,086 $44,663 $43,308