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Debt Obligations (Tables) | 6 Months Ended
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Jun. 30, 2025
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 | ​ | ​ | June 30, 2025 | ​ | ​ | ​ | December 31, 2024 | ​
November 2021 | ​ | November 19, 2025 | ​ | 2.52 | % | ​ | 1-month SOFR | ​ | $ | 50,000 | ​ | $ | 592 | ​ | ​ | $ | 1,305 | ​
November 2021 | ​ | November 19, 2026 | ​ | 2.66 | % | ​ | 1-month SOFR | ​ | ​ | 50,000 | ​ | ​ | 1,596 | ​ | ​ | ​ | 2,510 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 100,000 | ​ | $ | 2,188 | ​ | ​ | $ | 3,815 | ​
Schedule of Debt Obligations | The following table sets forth information regarding debt obligations by component as of June 30, 2025 and December 31, 2024 (dollar amounts in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | At June 30, 2025 | ​ | At December 31, 2024 | ​
​ | ​ | Applicable | ​ | ​ | ​ | Available | ​ | ​ | ​ | Available | ​
​ | ​ | Interest | ​ | Outstanding | ​ | for | ​ | Outstanding | ​ | for | ​
Debt Obligations | ​ | Rate (1) | ​ | Balance | ​ | Borrowing | ​ | Balance | ​ | Borrowing | ​
Revolving line of credit (2) | ​ | 5.50% | ​ | $ | 168,550 | ​ | $ | 256,450 | ​ | $ | 144,350 | ​ | $ | 280,650 | ​
Term loans, net of debt issue costs (2) | ​ | 2.59% | ​ | ​ | 99,883 | ​ | ​ | — | ​ | ​ | 99,808 | ​ | ​ | — | ​
Senior unsecured notes, net of debt issue costs (3) | ​ | 4.15% | ​ | ​ | 428,024 | ​ | ​ | — | ​ | ​ | 440,442 | ​ | ​ | — | ​
Total | ​ | 4.25% | ​ | $ | 696,457 | ​ | $ | 256,450 | ​ | $ | 684,600 | ​ | $ | 280,650 | ​
(1) | Represents weighted average of interest rate as of June 30, 2025.
​
(2) | Subsequent to June 30, 2025, as noted above, we entered into our New Credit Agreement increasing commitments from $425,000 to $600,000 and repaid our Term Loans using proceeds from our revolving line of credit under our New Credit Agreement. Additionally, we borrowed $41,850 under our new revolving line of credit under our New Credit Agreement. Accordingly, we have $310,400 outstanding and $289,600 available for borrowing under our unsecured revolving line of credit.
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(3) | Subsequent to June 30, 2025, we repaid $7,000 in scheduled principal paydown on our senior unsecured notes.
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Schedule of borrowings and repayments | During the six months ended June 30, 2025 and 2024, our debt borrowings and repayments were as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six Months Ended June 30, | ​
​ | ​ | 2025 | ​ | 2024 | ​
Debt Obligations | ​ | ​ | Borrowings | ​ | ​ | Repayments | ​ | Borrowings | ​ | Repayments | ​
Revolving line of credit | ​ | $ | 53,600 | (1) | $ | (29,400) | ​ | $ | 19,200 | ​ | $ | (39,700) | ​
Senior unsecured notes | ​ | ​ | — | ​ | ​ | (12,500) | (2) | ​ | — | ​ | ​ | (10,000) | ​
Total | ​ | $ | 53,600 | ​ | $ | (41,900) | ​ | $ | 19,200 | ​ | $ | (49,700) | ​
(1) | Subsequent to June 30, 2025, as noted above, we entered into our New Credit Agreement increasing commitments from $425,000 to $600,000 and repaid our Term Loans using proceeds from our revolving line of credit under our New Credit Agreement. Additionally, we borrowed $41,850 under our new revolving line of credit under our New Credit Agreement. Accordingly, we have $310,400 outstanding and $289,600 available for borrowing under our unsecured revolving line of credit.
​
(2) | Subsequent to June 30, 2025, we repaid $7,000 in scheduled principal paydown on our senior unsecured notes.

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