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Debt Obligations (Tables) | 12 Months Ended
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Dec. 31, 2024
Debt Obligations |
Schedule of interest rate swaps | The following table sets forth information regarding our Interest Rate Swaps at December 31, 2024 and 2023 (dollar amounts in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Notional | ​ | Fair Value at | ​
Date Entered | ​ | Maturity Date | ​ | Swap Rate | ​ | Rate Index | ​ | ​ | Amount | ​ | ​ | December 31, 2024 | ​ | ​ | ​ | December 31, 2023 | ​
November 2021 | ​ | November 19, 2025 | ​ | 2.62 | % | ​ | 1-month SOFR | ​ | $ | 50,000 | ​ | $ | 1,305 | ​ | ​ | $ | 2,698 | ​
November 2021 | ​ | November 19, 2026 | ​ | 2.76 | % | ​ | 1-month SOFR | ​ | ​ | 50,000 | ​ | ​ | 2,510 | ​ | ​ | ​ | 3,412 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 100,000 | ​ | $ | 3,815 | ​ | ​ | $ | 6,110 | ​
Schedule of Debt Obligations | The following table sets forth information regarding debt obligations by component as of December 31, 2024 and 2023 (dollar amounts in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | At December 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 (2) | ​ | 6.04% | ​ | $ | 144,350 | ​ | $ | 280,650 | ​ | $ | 302,250 | ​ | $ | 97,750 | ​
Term loans, net of debt issue costs | ​ | 2.59% | ​ | ​ | 99,808 | ​ | ​ | — | ​ | ​ | 99,658 | ​ | ​ | — | ​
Senior unsecured notes, net of debt issue costs (3) | ​ | 4.15% | ​ | ​ | 440,442 | ​ | ​ | — | ​ | ​ | 489,409 | ​ | ​ | — | ​
Total | ​ | 4.32% | ​ | $ | 684,600 | ​ | $ | 280,650 | ​ | $ | 891,317 | ​ | $ | 97,750 | ​
(1) | Represents weighted average of interest rate as of December 31, 2024.
​
(2) | Subsequent to December 31, 2024, we borrowed $15,000 under our unsecured revolving line of credit. Accordingly, we have $159,350 outstanding and $265,650 available for borrowing under our unsecured revolving line of credit.
​
(3) | Subsequent to December 31, 2024, we repaid $7,000 in scheduled principal paydowns on our senior unsecured notes. Accordingly, we have $433,442 outstanding under our senior unsecured notes, net of debt issue costs.
Schedule of borrowings and repayments | Our borrowings and repayments for the years ended December 31, 2024, 2023 and 2022 are as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ | ​ | 2024 | ​ | 2023 | ​ | 2022
Debt Obligations | ​ | ​ | Borrowings | ​ | ​ | Repayments | ​ | Borrowings | ​ | Repayments | ​ | Borrowings | ​ | Repayments
Revolving line of credit | ​ | $ | 27,200 | (1) | $ | (185,100) | ​ | $ | 277,450 | ​ | $ | (105,200) | ​ | $ | 194,000 | ​ | $ | (174,900)
Senior unsecured notes | ​ | ​ | — | ​ | ​ | (49,160) | (2) | ​ | — | ​ | ​ | (49,160) | ​ | ​ | 75,000 | ​ | ​ | (48,160)
Total | ​ | $ | 27,200 | ​ | $ | (234,260) | ​ | $ | 277,450 | ​ | $ | (154,360) | ​ | $ | 269,000 | ​ | $ | (223,060)
(1) | Subsequent to December 31, 2024, we borrowed $15,000 under our unsecured revolving line of credit. Accordingly, we have $159,350 outstanding and $265,650 available for borrowing under our unsecured revolving line of credit.
​
(2) | Subsequent to December 31, 2024, we repaid $7,000 in scheduled principal paydowns on our senior unsecured notes. Accordingly, we have $433,442 outstanding under our senior unsecured notes, net of debt issue costs.
Schedule of principal payments and amounts due at maturity | The following table represents our long-term contractual obligations (scheduled principal payments and amounts due at maturity) as of December 31, 2024, and excludes the effects of interest and debt issue costs (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Total | ​ | 2025 | ​ | 2026 | ​ | 2027 | ​ | 2028 | ​ | 2029 | ​ | Thereafter |
Revolving line of credit | ​ | $ | 144,350 | (1) | $ | — | ​ | $ | 144,350 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​
Term loans | ​ | ​ | 100,000 | ​ | ​ | 50,000 | ​ | ​ | 50,000 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​
Senior unsecured notes | ​ |  | 441,500 | (2) |  | 49,500 | (2) |  | 51,500 | ​ |  | 54,500 | ​ |  | 55,000 | ​ | ​ | 63,000 | ​ |  | 168,000 | ​
​ | ​ | $ | 685,850 | ​ | $ | 99,500 | ​ | $ | 245,850 | ​ | $ | 54,500 | ​ | $ | 55,000 | ​ | $ | 63,000 | ​ | $ | 168,000 | ​
(1) | Subsequent to December 31, 2024, we borrowed $15,000 under our unsecured revolving line of credit. Accordingly, we have $159,350 outstanding and $265,650 available for borrowing under our unsecured revolving line of credit.
​
(2) | Subsequent to December 31, 2024, we repaid $7,000 in scheduled principal paydowns on our senior unsecure notes. Accordingly, we have $433,442 outstanding under our senior unsecured notes, net of debt issue costs.

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