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Debt Obligations (Tables) | 9 Months Ended
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Sep. 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):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Notional | ​ | Fair Value at | ​
Date Entered | ​ | Maturity Date | ​ | Swap Rate | ​ | Rate Index | ​ | ​ | Amount | ​ | ​ | September 30, 2024 | ​ | ​ | ​ | December 31, 2023 | ​
November 2021 | ​ | November 19, 2025 | ​ | 2.62 | % | ​ | 1-month SOFR | ​ | $ | 50,000 | ​ | $ | 1,448 | ​ | ​ | $ | 2,698 | ​
November 2021 | ​ | November 19, 2026 | ​ | 2.76 | % | ​ | 1-month SOFR | ​ | ​ | 50,000 | ​ | ​ | 2,191 | ​ | ​ | ​ | 3,412 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 100,000 | ​ | $ | 3,639 | ​ | ​ | $ | 6,110 | ​
Schedule of Debt Obligations | The following table sets forth information regarding debt obligations by component as of September 30, 2024 and December 31, 2023 (dollar amounts in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | At September 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 (2) | ​ | 6.17% | ​ | $ | 240,150 | ​ | $ | 184,850 | ​ | $ | 302,250 | ​ | $ | 97,750 | ​
Term loans, net of debt issue costs | ​ | 2.69% | ​ | ​ | 99,771 | ​ | ​ | — | ​ | ​ | 99,658 | ​ | ​ | — | ​
Senior unsecured notes, net of debt issue costs | ​ | 4.15% | ​ | ​ | 445,402 | ​ | ​ | — | ​ | ​ | 489,409 | ​ | ​ | — | ​
Total | ​ | 4.58% | ​ | $ | 785,323 | ​ | $ | 184,850 | ​ | $ | 891,317 | ​ | $ | 97,750 | ​
(1) | Represents weighted average of interest rate as of September 30, 2024.
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(2) | Subsequent to September 30, 2024, we repaid $93,800 under our unsecured revolving line of credit. Accordingly, we have $146,350 outstanding and $278,650 available for borrowing under our unsecured revolving line of credit.
​
Schedule of borrowings and repayments | During the nine months ended September 30, 2024 and 2023, our debt borrowings and repayments were as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Nine Months Ended September 30,
​ | ​ | 2024 | ​ | 2023 | ​
Debt Obligations | ​ | ​ | Borrowings | ​ | ​ | Repayments | ​ | Borrowings | ​ | Repayments | ​
Revolving line of credit | ​ | $ | 19,200 | ​ | $ | (81,300) | (1) | $ | 274,450 | ​ | $ | (42,200) | ​
Term loans | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​
Senior unsecured notes | ​ | ​ | — | ​ | ​ | (44,160) | ​ | ​ | — | ​ | ​ | (44,160) | ​
Total | ​ | $ | 19,200 | ​ | $ | (125,460) | ​ | $ | 274,450 | ​ | $ | (86,360) | ​
(1) | Subsequent to September 30, 2024, we repaid $93,800 under our unsecured revolving line of credit. Accordingly, we have $146,350 outstanding and $278,650 available for borrowing under our unsecured revolving line of credit.

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