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Debt Obligations (Tables)

6 Months Ended

Jun. 30, 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):

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Notional

​

Fair Value at

​

Date Entered

​

Maturity Date

​

Swap Rate

​

Rate Index

​

​

Amount

​

​

June 30, 2024

​

​

​

December 31, 2023

​

November 2021

​

November 19, 2025

​

2.62

%

​

1-month SOFR

​

$

50,000

​

$

2,431

​

​

$

2,698

​

November 2021

​

November 19, 2026

​

2.76

%

​

1-month SOFR

​

​

50,000

​

​

3,534

​

​

​

3,412

​

​

​

​

​

​

​

​

​

​

$

100,000

​

$

5,965

​

​

$

6,110

​

Schedule of Debt Obligations

The following table sets forth information regarding debt obligations by component as of June 30, 2024 and December 31, 2023 (dollar amounts in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

At June 30, 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%

​

$

281,750

​

$

118,250

​

$

302,250

​

$

97,750

​

Term loans, net of debt issue costs

​

2.69%

​

​

99,733

​

​

—

​

​

99,658

​

​

—

​

Senior unsecured notes, net of debt issue costs (2)

​

4.20%

​

​

479,522

​

​

—

​

​

489,409

​

​

—

​

Total

​

4.78%

​

$

861,005

​

$

118,250

​

$

891,317

​

$

97,750

​

(1) Represents weighted average of interest rate as of June 30, 2024.

​

(2) Subsequent to June 30, 2024, we paid $18,160 in regular scheduled principal payments under our senior unsecured notes. Accordingly, we have $461,362 outstanding under our senior unsecured notes.

​

Schedule of borrowings and repayments

During the six months ended June 30, 2024 and 2023, our debt borrowings and repayments were as follows (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Six Months Ended June 30,

​

​

2024

​

2023

​

Debt Obligations

​

​

Borrowings

​

​

Repayments

​

Borrowings

​

Repayments

​

Revolving line of credit

​

$

19,200

​

$

(39,700)

​

$

224,950

​

$

(28,600)

​

Senior unsecured notes

​

​

—

​

​

(10,000)

(1)

​

—

​

​

(11,000)

​

Total

​

$

19,200

​

$

(49,700)

​

$

224,950

​

$

(39,600)

​

(1) Subsequent to June 30, 2024, we paid $18,160 in regular scheduled principal payments under our senior unsecured notes. Accordingly, we have $461,362 outstanding under our senior unsecured notes.

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