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Derivatives and Hedging Activities
 3 Months Ended
Mar. 31, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives and Hedging Activities Derivatives and Hedging Activities
 
The following interest rate swaps have been designated as cash flow hedges (in thousands):
Notional value atFair value at
Hedge typeSwap
rate		Effective DateMaturity DateMarch 31, 2026December 31, 2025March 31, 2026December 31, 2025
Swap-cash flow-Daily SOFR0.56%July 2021January 2026$— $50,000 $— $146 
Swap-cash flow-Daily SOFR2.95%April 2024April 2027125,000 125,000 987 697 
Swap-cash flow-Daily SOFR2.85%April 2024April 202765,000 65,000 587 453 
Swap-cash flow-Daily SOFR2.75%April 2024April 202760,000 60,000 611 501 
Swap-cash flow-Daily SOFR3.70%July 2024July 202725,000 25,000 (22)(147)
Swap-cash flow-Daily SOFR3.45%July 2024July 202725,000 25,000 61 (48)
Swap-cash flow-Daily SOFR3.71%July 2024July 202725,000 25,000 (24)(150)
Swap-cash flow-Daily SOFR3.10%July 2025July 202725,000 25,000 176 87 
Swap-cash flow-Daily SOFR3.20%January 2025January 202825,000 25,000 177 43 
Swap-cash flow-Daily SOFR3.40%January 2025January 202825,000 25,000 87 (60)
Swap-cash flow-Daily SOFR3.30%October 2025October 202825,000 25,000 148 (9)
Swap-cash flow-Daily SOFR3.30%January 2025January 202925,000 25,000 155 (5)
Swap-cash flow-Daily SOFR3.19%January 2026January 202925,000 25,000 231 64 
Swap-cash flow-Daily SOFR3.25%January 2026January 202950,000 50,000 378 39 
Swap-cash flow-Daily SOFR3.29%January 2026January 202950,000 50,000 320 (22)
Swap-cash flow-Daily SOFR3.00%April 2026April 202925,000 25,000 370 183 
Swap-cash flow-Daily SOFR3.05%April 2026April 202925,000 25,000 334 147 
$625,000 $675,000 $4,576 $1,919 
 

As of March 31, 2026 and December 31, 2025, the aggregate fair value of the interest rate swap assets of $4.6 million and $2.4 million, respectively, was included in prepaid expense and other assets in the accompanying consolidated balance sheets. As of December 31, 2025, the aggregate fair value of the interest rate swap liabilities of $0.4 million was included in accounts payable and other liabilities in the accompanying consolidated balance sheet.

As of March 31, 2026 and December 31, 2025, there was approximately $4.6 million and $1.9 million, respectively, of unrealized gains included in accumulated other comprehensive income related to interest rate swaps. There was no ineffectiveness recorded during the three month periods ended March 31, 2026 or 2025. For the three months ended March 31, 2026 and 2025, gains of approximately $0.8 million and $2.8 million, respectively, included in accumulated other comprehensive income were reclassified into interest expense for the interest rate swaps. Approximately $3.2 million of the unrealized gains included in accumulated other comprehensive income at March 31, 2026 is expected to be reclassified into earnings within the next 12 months.