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Debt (Tables)

6 Months Ended

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.

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- Definition

Tabular disclosure of maturity and sinking fund requirement for long-term debt.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 470
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-1

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