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v3.25.2

Debt (Tables) | 6 Months Ended
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Jun. 30, 2025
Debt Disclosure [Abstract] |
Schedule of Notes Payable | Long-term debt balances, including associated interest rates and maturities consists of the following (in thousands):
|  |  | Weighted average interest rate |  | June 30, 2025 |  | December 31, 2024
| Maturity Date |  | June 30, 2025 |  | December 31, 2024 |  |
Senior secured revolving credit facility | 2027 |  | 6.9% |  | 7.3% |  | $ | 75,000 |  |  | $ | 60,000 |
Fixed rate mortgage notes payable | 2025 to 2045 |  | 4.6% |  | 4.6% |  | 400,009 |  |  | 400,229 |
Variable rate mortgage notes payable (1) | 2026 to 2029 |  | 6.4% |  | 6.5% |  | 180,530 |  |  | 171,530 |
Notes payable - consolidated VIE | 2026 to 2027 |  | 7.1% |  | 7.2% |  | 21,690 |  |  | 21,690 |
Notes payable - insurance | 2025 to 2026 |  | 5.8% |  | 6.9% |  | 3,653 |  |  | 1,707 |
Total debt |  |  |  |  |  |  | 680,882 |  |  | 655,156 |
Deferred loan costs, net |  |  |  |  |  |  | 2,995 |  |  | 3,766 |
Total debt, net of deferred loan costs |  |  |  |  |  |  | 677,887 |  |  | 651,390 |
Current portion of debt |  |  |  |  |  |  | 17,724 |  |  | 15,486 |
Long-term debt, net |  |  |  |  |  |  | $ | 660,163 |  |  | $ | 635,904 |
(1) See “Note 14–Fair Value Measurements” for interest rate cap agreements on variable rate mortgage notes payable.
Schedule of Aggregate Scheduled Maturities of Notes Payable | The following schedule summarizes our debt payable as of June 30, 2025 (in thousands):
Principal payments due in: |
2025 | $ | 18,118 |
2026 | 133,834 |
2027 | 87,597 |
2028 | 12,395 |
2029 | 408,562 |
Thereafter | 20,376 |
Total debt, excluding deferred loan costs | $ | 680,882 |

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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