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Notes Payable, Bank Credit Facility, Interest Expense and Amortization of Deferred Debt Costs (Tables)
12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Maturities of Long-term Debt
As of December 31, 2024, the scheduled maturities of all debt including scheduled principal amortization for years ended December 31 are as follows:

(In thousands)Balloon
Payments
Scheduled
Principal
Amortization
Total
2025$187,000 (1)$35,646 $222,646 
2026134,088 34,010 168,098 
2027100,000 (2)33,436 133,436 
202817,811 34,188 51,999 
202925,514 34,748 60,262 
Thereafter632,489 283,758 916,247 
Principal amount$1,096,902 $455,786 1,552,688 
Unamortized deferred debt costs20,072 
Net$1,532,616 
(1)Includes $187.0 million outstanding under the revolving credit facility of the Credit Facility. The revolving credit facility may be extended by the Company for one additional year, subject to satisfaction of certain conditions.
(2)Includes $100.0 million outstanding under the term loan of the Credit Facility.
Schedule of Interest Costs Incurred
The components of interest expense are set forth below.

Year ended December 31,
(In thousands)202420232022
Interest incurred$74,359 $66,717 $53,219 
Amortization of deferred debt costs2,353 2,250 1,985 
Capitalized interest(22,857)(19,519)(11,191)
Interest expense53,855 49,448 44,013 
Less: Interest income(159)(295)(76)
Interest expense, net and amortization of
deferred debt costs
$53,696 $49,153 $43,937