v3.24.3

Mortgages (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2024
Debt Instrument [Line Items] |
Schedule of Estimated Future Principal Payments | Estimated future principal payments to be made under the above mortgages and the Company’s unsecured credit agreements (see Note 7) at September 30, 2024 are as follows:
(in thousands) |  |  |
Remainder of 2024 |  | $ | 580 |
2025 |  |  | 20,195 |
2026 |  |  | 542,325 |
2027 |  |  | 351,596 |
2028 |  |  | 263,278 |
Thereafter |  |  | 775,000 |
|  | $ | 1,952,974 |
Secured Debt |
Debt Instrument [Line Items] |
Summary of Unsecured Credit Agreements | The Company’s mortgages consist of the following:
(in thousands, except interest rates) |  | Origination |  | Maturity |  | Interest |  | September 30, |  |  | December 31, |  |  |
Lender |  | Date |  | Date |  | Rate |  | 2024 |  |  | 2023 |  |  |
Wilmington Trust National Association |  | Apr. 2019 |  | Feb. 2028 |  | 4.92% |  | $ | 43,189 |  |  | $ | 44,207 |  |  | (a) (b) (c) (d)
Wilmington Trust National Association |  | Jun. 2018 |  | Aug. 2025 |  | 4.36% |  |  | 18,396 |  |  |  | 18,725 |  |  | (a) (b) (c) (d)
PNC Bank |  | Oct. 2016 |  | Nov. 2026 |  | 3.62% |  |  | 15,907 |  |  |  | 16,241 |  |  | (b) (c)
Total mortgages |  |  |  |  |  |  |  |  | 77,492 |  |  |  | 79,173 |  |  |
Debt issuance costs, net |  |  |  |  |  |  |  |  | (76 | ) |  |  | (105 | ) |  |
Mortgages, net |  |  |  |  |  |  |  | $ | 77,416 |  |  | $ | 79,068 |  |  |
(a) Non-recourse debt includes the indemnification/guaranty of the Company pertaining to fraud, environmental claims, insolvency, and other matters. (b) Debt secured by related rental property and lease rents. (c) Debt secured by guaranty of the OP. (d) Mortgage was assumed as part of the acquisition of the related property. The debt was recorded at fair value at the time of assumption.

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