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Indebtedness (Tables)
9 Months Ended
Sep. 30, 2025
Debt Disclosure [Abstract]  
Summary of Secured Indebtedness

The following table discloses certain information regarding the Company’s secured indebtedness (in thousands):

 

 

Carrying Value at

 

 

Interest Rate(A) at

 

 

 

 

September 30, 2025

 

 

December 31, 2024

 

 

September 30, 2025

 

December 31, 2024

 

Maturity Date

Mortgage Indebtedness  Fixed Rate

 

$

98,656

 

 

$

99,862

 

 

6.7%

 

6.7%

 

November 2028

Mortgage Indebtedness  Variable Rate

 

 

152,625

 

 

 

206,900

 

 

6.9%

 

7.1%

 

September 2026

Net unamortized debt issuance costs

 

 

(2,579

)

 

 

(5,389

)

 

 

 

 

 

 

Total indebtedness

 

$

248,702

 

 

$

301,373

 

 

 

 

 

 

 

(A) The interest rate on variable-rate debt was calculated using the base rate and spread effective at the end of each reporting period.