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Debt Obligations (Tables) | 6 Months Ended
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Jun. 30, 2023
Debt Obligations |
Schedule of interest rate swaps | As of June 30, 2023 and December 31, 2022, the terms of the Interest Rate Swaps are as follows (dollar amounts in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Notional | ​ | Fair Value at | ​
Date Entered | ​ | Maturity Date | ​ | Swap Rate | ​ | Rate Index | ​ | ​ | Amount | ​ | ​ | June 30, 2023 | ​ | ​ | ​ | December 31, 2022 | ​
November 2021 | ​ | November 19, 2025 | ​ | 2.62 | % | ​ | 1-month SOFR | ​ | $ | 50,000 | ​ | $ | 3,895 | ​ | ​ | $ | 4,003 | ​
November 2021 | ​ | November 19, 2026 | ​ | 2.76 | % | ​ | 1-month SOFR | ​ | ​ | 50,000 | ​ | ​ | 4,673 | ​ | ​ | ​ | 4,716 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 100,000 | ​ | $ | 8,568 | ​ | ​ | $ | 8,719 | ​
Schedule of Debt Obligations | The following table sets forth information regarding debt obligations by component as of June 30, 2023 and December 31, 2022 (dollar amounts in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | At June 30, 2023 | ​ | At December 31, 2022 | ​
​ | ​ | Applicable | ​ | ​ | ​ | Available | ​ | ​ | ​ | Available | ​
​ | ​ | Interest | ​ | Outstanding | ​ | for | ​ | Outstanding | ​ | for | ​
Debt Obligations | ​ | Rate (1) | ​ | Balance | ​ | Borrowing | ​ | Balance | ​ | Borrowing | ​
Revolving line of credit (2) | ​ | 6.35% | ​ | $ | 326,350 | ​ | $ | 73,650 | ​ | $ | 130,000 | ​ | $ | 270,000 | ​
Term loans, net of debt issue costs | ​ | 2.69% | ​ | ​ | 99,583 | ​ | ​ | — | ​ | ​ | 99,511 | ​ | ​ | — | ​
Senior unsecured notes, net of debt issue costs (3) | ​ | 4.24% | ​ | ​ | 527,456 | ​ | ​ | — | ​ | ​ | 538,343 | ​ | ​ | — | ​
Total | ​ | 4.80% | ​ | $ | 953,389 | ​ | $ | 73,650 | ​ | $ | 767,854 | ​ | $ | 270,000 | ​
(1) | Represents weighted average of interest rate as of June 30, 2023.
​
(2) | Subsequent to June 30, 2023, we borrowed $34,000 under our Revolving Line of Credit. Accordingly, we have $360,350 outstanding and $39,650 available for borrowing under our Revolving Line of Credit.
​
(3) | Subsequent to June 30, 2023, we paid $17,160 in regular scheduled principal payments under our senior unsecure notes. Accordingly, we have $510,296 outstanding under our senior unsecured notes.
​
Schedule of borrowings and repayments | During the six months ended June 30, 2023 and 2022, our debt borrowings and repayments were as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six Months Ended June 30, | ​
​ | ​ | 2023 | ​ | 2022 | ​
Debt Obligations | ​ | ​ | Borrowings | ​ | ​ | Repayments | ​ | Borrowings | ​ | Repayments | ​
Revolving line of credit (1) | ​ | $ | 224,950 | ​ | $ | (28,600) | ​ | $ | 99,000 | ​ | $ | (153,900) | ​
Senior unsecured notes (2) | ​ | ​ | — | ​ | ​ | (11,000) | ​ | ​ | 75,000 | ​ | ​ | (7,000) | ​
Total | ​ | $ | 224,950 | ​ | $ | (39,600) | ​ | $ | 174,000 | ​ | $ | (160,900) | ​
(1) | Subsequent to June 30, 2023, we borrowed $34,000 under our Revolving Line of Credit. Accordingly, we have $360,350 outstanding and $39,650 available for borrowing under our Revolving Line of Credit.
​
(2) | Subsequent to June 30, 2023, we paid $17,160 in regular scheduled principal payments under our senior unsecure notes. Accordingly, we have $510,296 outstanding under our senior unsecured notes.

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