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Interest Rate Derivatives (Tables) | 3 Months Ended
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Mar. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Interest Rate Derivatives Recorded as Derivative Liability | The Company had the following interest rate derivatives recorded within accrued expenses and other liabilities as of March 31, 2025 and December 31, 2024 in the Condensed Consolidated Statements of Financial Condition:
Derivative |  | Notional Amount |  | Fair Value as of March 31, 2025 |  | Fair Value as of December 31, 2024 |  | Fixed Rate Paid |  | Floating Rate Received |  | Effective Date(3) |  | Maturity Date
Interest rate swap |  | $ | 300,000 |  |  | $ | (5,298) |  |  | $ | (2,291) |  |  | 4.37 | % |  | 1 month Term SOFR(1) |  | November 2022 |  | February 2028
Interest rate swap |  | $ | 28,500 |  |  | $ | (669) |  |  | $ | (397) |  |  | 4.47 | % |  | 1 month Term SOFR(1) |  | May 2024 |  | February 2028
Interest rate swap |  | $ | 317,000 |  |  | $ | (2,833) |  |  | $ | (844) |  |  | 4.17 | % |  | 1 month Term SOFR(1) |  | February 2028 |  | February 2030
____________ (1)Floating rate received subject to a 0.50% Floor. (2)Represents the date at which the derivative is in effect and the Company is contractually required to begin payment of interest under the terms of the agreement.
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) | A rollforward of the amounts in accumulated other comprehensive income (loss) (“AOCI”) related to interest rate derivatives designated as cash flow hedges is as follows:
| Three Months Ended March 31, |  |
| 2025 |  | 2024 |  |  |  |
Derivative gain at beginning of period | $ | 18,342 |  |  | $ | 21,806 |  |  |  |  |
Amount recognized in other comprehensive income (loss)(1) | (4,797) |  |  | 5,901 |  |  |  |  |
Amount reclassified from accumulated other comprehensive income (loss) to interest expense | (1,913) |  |  | (2,700) |  |  |  |  |
Derivative gain at end of period | 11,632 |  |  | 25,007 |  |  |  |  |
Less: gain attributable to noncontrolling interests in GCMH | 10,056 |  |  | 20,969 |  |  |  |  |
Derivative gain at end of period, net | $ | 1,576 |  |  | $ | 4,038 |  |  |  |  |
____________ (1)Net tax provision (benefit) of $(0.4) million and $0.3 million for the three months ended March 31, 2025 and 2024, respectively.

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