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Derivatives and Hedging Activities (Tables)
 12 Months Ended
Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Assets at Fair Value
The following table summarizes the terms of our outstanding derivative financial instruments on the Company's balance sheet as of December 31, 2024 and December 31, 2023:
Derivative TypeNumber of InstrumentsEffective DateMaturity DateNotional ValueFair Value of Asset/(Liability)
December 31, 2024December 31, 2023
Term Loan Interest Rate Swap47/1/20221/31/2025$300,000 $678 $9,471 
Term Loan Forward Interest Rate Swap51/31/20251/31/2027250,000 3,762 — 
Trust Preferred Securities Interest Rate Swap210/30/202410/30/202782,500 1,694 — 
$632,500 $6,134 $9,471 
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance
The table below present the effect of the Company's derivative financial instruments on the consolidated statements of operations for 2024 and 2023:
Derivatives in Cash FlowAmount of Gain Recognized
in OCI on Derivative
December 31,
Amount of (Income) Loss
Reclassified from
Accumulated OCI into Income (1)
December 31,
Hedging Relationships2024202320242023
Interest Rate Swap$7,651 $3,496 $(10,989)$(10,343)
The Company's share of non-consolidated entity's interest rate cap 151 158 (160)(1,517)
Total $7,802 $3,654 $(11,149)$(11,860)
(1) Amounts reclassified from accumulated other comprehensive income (loss) to interest expense within the consolidated statements of operations.