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Debt Obligations (Tables)

9 Months Ended

Sep. 30, 2023

Debt Obligations

Schedule of interest rate swaps

As of September 30, 2023 and December 31, 2022, the terms of the Interest Rate Swaps are as follows (dollar amounts in thousands):

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​

​

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​

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​

​

​

​

​

​

​

​

​

​

​

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​

​

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Notional

​

Fair Value at

​

Date Entered

​

Maturity Date

​

Swap Rate

​

Rate Index

​

​

Amount

​

​

September 30, 2023

​

​

​

December 31, 2022

​

November 2021

​

November 19, 2025

​

2.62

%

​

1-month SOFR

​

$

50,000

​

$

3,776

​

​

$

4,003

​

November 2021

​

November 19, 2026

​

2.76

%

​

1-month SOFR

​

​

50,000

​

​

4,820

​

​

​

4,716

​

​

​

​

​

​

​

​

​

​

$

100,000

​

$

8,596

​

​

$

8,719

​

Schedule of Debt Obligations

The following table sets forth information regarding debt obligations by component as of September 30, 2023 and December 31, 2022 (dollar amounts in thousands):

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

At September 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

​

6.63%

​

$

362,250

​

$

37,750

​

$

130,000

​

$

270,000

​

Term loans, net of debt issue costs

​

2.74%

​

​

99,620

​

​

—

​

​

99,511

​

​

—

​

Senior unsecured notes, net of debt issue costs

​

4.20%

​

​

494,353

​

​

—

​

​

538,343

​

​

—

​

Total

​

4.97%

​

$

956,223

​

$

37,750

​

$

767,854

​

$

270,000

​

(1) Represents weighted average of interest rate as of September 30, 2023.

​

​

​

Schedule of borrowings and repayments

During the nine months ended September 30, 2023 and 2022, our debt borrowings and repayments were as follows (in thousands):

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Nine Months Ended September 30,

​

​

​

2023

​

2022

​

Debt Obligations

​

​

Borrowings

​

​

Repayments

​

Borrowings

​

Repayments

​

Revolving line of credit

​

$

274,450

​

$

(42,200)

​

$

194,000

​

$

(153,900)

​

Senior unsecured notes

​

​

—

​

​

(44,160)

​

​

75,000

​

​

(43,160)

​

Total

​

$

274,450

​

$

(86,360)

​

$

269,000

​

$

(197,060)

​

​

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