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Debt Obligations (Tables)

9 Months Ended

Sep. 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):

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Notional

​

Fair Value at

​

Date Entered

​

Maturity Date

​

Swap Rate

​

Rate Index

​

​

Amount

​

​

September 30, 2025

​

​

​

December 31, 2024

​

November 2021

​

November 19, 2025

​

2.52

%

​

1-month SOFR

​

$

50,000

​

$

200

​

​

$

1,305

​

November 2021

​

November 19, 2026

​

2.66

%

​

1-month SOFR

​

​

50,000

​

​

1,259

​

​

​

2,510

​

​

​

​

​

​

​

​

​

​

$

100,000

​

$

1,459

​

​

$

3,815

​

Schedule of Debt Obligations

The following table sets forth information regarding debt obligations by component as of September 30, 2025 and December 31, 2024 (dollar amounts in thousands):

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

At September 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)

​

4.76%

​

$

548,450

​

$

51,550

​

$

144,350

​

$

280,650

​

Term loans, net of debt issue costs

​

n/a

​

​

—

​

​

—

​

​

99,808

​

​

—

​

Senior unsecured notes, net of debt issue costs

​

4.12%

​

​

396,065

​

​

—

​

​

440,442

​

​

—

​

Total

​

4.49%

​

$

944,515

​

$

51,550

​

$

684,600

​

$

280,650

​

(1) Represents weighted average interest rate as of September 30, 2025.

​

(2) Subsequent to September 30, 2025, we repaid $62,900 under our unsecured revolving line of credit. Accordingly, we have $485,550 outstanding and $114,450 available for borrowing under our unsecured revolving line of credit.

​

​

Schedule of borrowings and repayments

During the nine months ended September 30, 2025 and 2024, our debt borrowings and repayments were as follows (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Nine Months Ended September 30,

​

​

​

2025

​

2024

​

Debt Obligations

​

​

Borrowings

​

​

Repayments

​

Borrowings

​

Repayments

​

Revolving line of credit

​

$

433,500

​

$

(29,400)

(1)

$

19,200

​

$

(81,300)

​

Term loans

​

​

—

​

​

(100,000)

​

​

—

​

​

—

​

Senior unsecured notes

​

​

—

​

​

(44,500)

​

​

—

​

​

(44,160)

​

Total

​

$

433,500

​

$

(173,900)

​

$

19,200

​

$

(125,460)

​

(1) Subsequent to September 30, 2025, we repaid $62,900 under our unsecured revolving line of credit. Accordingly, we have $485,550 outstanding and $114,450 available for borrowing under our unsecured revolving line of credit.

​

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