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Debt (Tables)
 3 Months Ended
Mar. 31, 2025
Debt Instruments [Abstract]  
Schedule of Debt
Debt consisted of the following ($ in thousands):
March 31, 2025December 31, 2024
Revolving credit facility - unsecured$447,200 $331,200 
Bank term loans - unsecured200,000 200,000 
2031 Senior Notes - unsecured, net of discount of $1,876 and $1,956
398,124 398,044 
Private placement notes - unsecured150,000 150,000 
Fannie Mae term loans - secured, non-recourse75,704 75,815 
Unamortized loan costs(8,043)(9,018)
$1,262,985 $1,146,041 
Schedule of Maturities of Long-term Debt
Aggregate principal maturities of debt as of March 31, 2025 were as follows ($ in thousands):

Remainder of 2025$325,704 
2026— 
2027100,000 
2028447,200 
2029— 
2030— 
Thereafter400,000 
1,272,904 
Less: discount(1,876)
Less: unamortized loan costs(8,043)
$1,262,985 
Schedule of Unsecured Term Loans
Our unsecured private placement notes outstanding as of March 31, 2025, payable interest only, are summarized below ($ 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 Ended
March 31,
20252024
Interest expense on debt at contractual rates$13,359 $14,087 
Capitalized interest— (39)
Amortization of debt issuance costs, debt discount and other978 821 
Total interest expense$14,337 $14,869