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Debt Obligations (Tables) | 3 Months Ended
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Mar. 31, 2024
Debt Obligations |
Schedule of interest rate swaps | Information regarding our interest rate swaps measured at fair value, which are classified as Level 2 of the fair value hierarchy is presented below (dollar amounts in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Notional | ​ | Fair Value at | ​
Date Entered | ​ | Maturity Date | ​ | Swap Rate | ​ | Rate Index | ​ | ​ | Amount | ​ | ​ | March 31, 2024 | ​ | ​ | ​ | December 31, 2023 | ​
November 2021 | ​ | November 19, 2025 | ​ | 2.62 | % | ​ | 1-month SOFR | ​ | $ | 50,000 | ​ | $ | 2,750 | ​ | ​ | $ | 2,698 | ​
November 2021 | ​ | November 19, 2026 | ​ | 2.76 | % | ​ | 1-month SOFR | ​ | ​ | 50,000 | ​ | ​ | 3,738 | ​ | ​ | ​ | 3,412 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 100,000 | ​ | $ | 6,488 | ​ | ​ | $ | 6,110 | ​
Schedule of Debt Obligations | The following table sets forth information regarding debt obligations by component as of March 31, 2024 and December 31, 2023 (dollar amounts in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | At March 31, 2024 | ​ | At December 31, 2023 | ​
​ | ​ | Applicable | ​ | ​ | ​ | Available | ​ | ​ | ​ | Available | ​
​ | ​ | Interest | ​ | Outstanding | ​ | for | ​ | Outstanding | ​ | for | ​
Debt Obligations | ​ | Rate (1) | ​ | Balance | ​ | Borrowing | ​ | Balance | ​ | Borrowing | ​
Revolving line of credit | ​ | 6.52% | ​ | $ | 277,050 | ​ | $ | 122,950 | ​ | $ | 302,250 | ​ | $ | 97,750 | ​
Term loans, net of debt issue costs | ​ | 2.69% | ​ | ​ | 99,695 | ​ | ​ | — | ​ | ​ | 99,658 | ​ | ​ | — | ​
Senior unsecured notes, net of debt issue costs | ​ | 4.20% | ​ | ​ | 483,466 | ​ | ​ | — | ​ | ​ | 489,409 | ​ | ​ | — | ​
Total | ​ | 4.77% | ​ | $ | 860,211 | ​ | $ | 122,950 | ​ | $ | 891,317 | ​ | $ | 97,750 | ​
(1) | Represents weighted average of interest rate as of March 31, 2024.
​ ​
Schedule of borrowings and repayments | During the three months ended March 31, 2024 and 2023, our debt borrowings and repayments were as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended March 31,
​ | ​ | 2024 | ​ | 2023 | ​
Debt Obligations | ​ | ​ | Borrowings | ​ | ​ | Repayments | ​ | Borrowings | ​ | Repayments | ​
Revolving line of credit | ​ | $ | 10,300 | ​ | $ | (35,500) | ​ | $ | 162,700 | ​ | $ | (22,600) | ​
Senior unsecured notes | ​ | ​ | — | ​ | ​ | (6,000) | ​ | ​ | — | ​ | ​ | (7,000) | ​
Total | ​ | $ | 10,300 | ​ | $ | (41,500) | ​ | $ | 162,700 | ​ | $ | (29,600) | ​
​

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