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Debt, Net (Tables)
 9 Months Ended
Sep. 30, 2025
Debt Instruments [Abstract]  
Schedule of Debt
Our debt consisted of the following ($ in thousands):

September 30,December 31,
20252024
Revolving credit facility - unsecured$100,000 $331,200 
Bank term loan - unsecured125,000 200,000 
2031 Senior Notes - unsecured, net of discount of $1,715 and $1,956, respectively
398,285 398,044 
2033 Senior Notes - unsecured, net of discount of $3,838
346,162 — 
Private placement notes - unsecured150,000 150,000 
Fannie Mae term loans - secured, non-recourse— 75,815 
Unamortized debt issuance costs(10,382)(9,018)
Total debt, net$1,109,065 $1,146,041 
Schedule of Maturities of Long-term Debt
A summary of the aggregate principal maturities of our outstanding debt as of September 30, 2025 follows ($ in thousands):

Remainder of 2025$175,000 
2026— 
2027100,000 
2028100,000 
2029— 
2030— 
Thereafter750,000 
Total principal amounts of debt outstanding1,125,000 
Less: Unamortized debt issuance costs and discounts(15,935)
Total debt, net$1,109,065 
Schedule of Unsecured Term Loans
A summary of the principal amounts outstanding on our unsecured private placement notes as of September 30, 2025 follows ($ in thousands):

Principal
InterestAmounts
OriginationMaturitiesRateOutstanding
November 2015November 20254.33%$50,000 
January 2015January 20274.51%100,000 
Total private placement notes$150,000 
Schedule of Interest Expense
A summary of the components of interest expense follows ($ in thousands):

Three Months EndedNine Months Ended
September 30,September 30,
2025202420252024
Interest expense at contractual rates$13,108 $14,131 $40,529 $42,247 
Capitalized interest— (65)— (152)
Amortization of debt issuance costs and discounts
and other658 873 2,575 2,568 
Total interest expense$13,766 $14,939 $43,104 $44,663