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UNSECURED LINES OF CREDIT PAYABLE (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Schedule of Revolving Credit Facilities

The amount of the Amended and Restated Revolving Credit Facility unused and available at December 31, 2024 was as follows (in thousands):

Committed capacity			$	500,000
Borrowings outstanding			(176,000)
Unused and available			$	324,000

We executed borrowings and repayments on the Revolving Credit Facility and Amended and Restated Revolving Credit Facility during 2024 as follows (in thousands):

Balance, December 31, 2023			$	157,000
Borrowings			158,000
Repayments			(139,000)
Balance, December 31, 2024			$	176,000

For the three years ended December 31, 2024, we recognized interest expense (excluding facility fees) and facility fees as follows (in thousands):

			Year Ended December 31,
			2024						2023						2022
Interest expense (excluding facility fees)			$	10,509					$	4,419					$	912
Facility fees			1,229						1,454						1,454

Information related to revolving credit facilities for the three years ended December 31, 2024 as follows (in thousands, except percentage amounts):

			Year Ended December 31,
			2024						2023						2022
Total revolving credit facilities at December 31			$	500,000					$	700,000					$	700,000
Borrowings outstanding at December 31			176,000						157,000						55,000
Weighted average daily borrowings during the year			169,344						70,578						21,636
Maximum daily borrowings during the year			187,000						164,000						67,000
Weighted average interest rate during the year			6.10		%				6.17		%				4.22		%
Weighted average interest rate on borrowings outstanding at December 31			5.26		%				6.26		%				5.20		%

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- References

No definition available.

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- Definition

Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(19)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

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