XML 222 R28.htm IDEA: XBRL DOCUMENT
v3.26.1

Debt, Net (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2026
Debt Disclosure [Abstract] |
Schedule of Debt | The following table summarizes the carrying value of debt as of the date and the debt activity for the periods indicated below (in thousands):
|  |  |  | Six Months Ended June 30, 2026 |  |
|  | Balance as of December 31, 2025 |  | Debt Issuances |  | Repayments, Extinguishment and Assumptions |  | Amortization |  | Balance as of June 30, 2026
Mortgages payable: |  |  |  |  |  |  |  |  |  |
Outstanding balance |  | $ | 373,000 |  |  | $ | — |  |  | $ | (38,402) |  |  | $ | — |  |  | $ | 334,598 |
Deferred financing costs |  | (1,043) |  |  | (2,536) |  |  | 284 |  |  | 499 |  |  | (2,796) |
Mortgages payable, net |  | 371,957 |  |  | (2,536) |  |  | (38,118) |  |  | 499 |  |  | 331,802 |
Credit facility revolver |  |  |  |  |  |  |  |  |  |
Original Revolving Facility |  | 92,000 |  |  | 18,000 |  |  | (110,000) |  |  | — |  |  | — |
New Revolving Facility |  | — |  |  | 127,000 |  |  | (25,000) |  |  | — |  |  | 102,000 |
Credit facility revolver |  | 92,000 |  |  | 145,000 |  |  | (135,000) |  |  | — |  |  | 102,000 |
Total debt |  | $ | 463,957 |  |  | $ | 142,464 |  |  | $ | (173,118) |  |  | $ | 499 |  |  | $ | 433,802 |
Schedule of Maturities of Long-Term Debt | The following table summarizes the scheduled aggregate principal repayments due on the Company’s debt outstanding as of June 30, 2026 (in thousands). The maturity dates reflected in the table exclude any borrower extension options under the Company’s debt obligations.
|  | Total
July 1, 2026 to December 31, 2026 |  | $ | — |
2027 |  | — |
2028 |  | 102,000 |
2029 |  | 316,598 |
2030 |  | — |
2031 |  | 18,000 |
Total |  | $ | 436,598 |
Schedule of Mortgage Notes Payable | The Company’s consolidated debt consisted of the following as of June 30, 2026 (dollars in thousands):
|  | Encumbered Properties |  | Net Carrying Value of Collateralized Properties (1) |  | Outstanding Balance |  | Weighted Average Interest Rate (2) |  | Weighted Average Years to Maturity
Fixed-rate debt |  | 19 |  |  | $ | 402,005 |  |  | $ | 334,598 |  |  | 5.02 | % |  | 2.8
Variable-rate debt |  | 29 |  |  | 509,720 |  |  | 102,000 |  |  | 6.37 | % |  | 1.6
Total |  | 48 |  |  | $ | 911,725 |  |  | $ | 436,598 |  |  |  |  |
____________________________________ (1)Net carrying value is real estate assets, including right-of-use assets, net of real estate liabilities. (2)The weighted average interest rate for variable-rate debt represents the interest rate in effect on the New Revolving Facility as of June 30, 2026.

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 942 -SubTopic 235 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.9-06) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-3 Reference 3: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-8 Reference 4: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-7 Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-6 Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480657/210-10-S50-9 Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4 Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 11: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69B -Publisher FASB -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B Reference 12: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69E -Publisher FASB -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 Reference 14: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477734/942-470-50-3 + Details
Name: | us-gaap_ScheduleOfDebtInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 + Details
Name: | us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration