| Schedule of Notes Payable |
Long-term debt balances, including associated interest rates and maturities consists of the following (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Weighted average
interest rate | | March 31,
2025 | | December 31,
2024 | | Maturity Date | | March 31, 2025 | | December 31, 2024 | | | | Senior secured revolving credit facility | 2027 | | 6.9% | | 7.3% | | $ | 60,000 | | | $ | 60,000 | | | Fixed rate mortgage notes payable | 2025 to 2045 | | 4.6% | | 4.6% | | 400,120 | | | 400,229 | | Variable rate mortgage notes payable (1) | 2026 to 2029 | | 6.5% | | 6.5% | | 171,530 | | | 171,530 | | Notes payable - consolidated VIE | 2025 to 2027 | | 7.1% | | 7.2% | | 21,690 | | | 21,690 | | | Notes payable - insurance | 2025 | | 6.9% | | 6.9% | | 899 | | | 1,707 | | | Total debt | | | | | | | 654,239 | | | 655,156 | | | Deferred loan costs, net | | | | | | | 3,345 | | | 3,766 | | | Total debt, net of deferred loan costs | | | | | | | 650,894 | | | 651,390 | | | Current portion of debt | | | | | | | 14,621 | | | 15,486 | | | Long-term debt, net | | | | | | | $ | 636,273 | | | $ | 635,904 | |
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| Schedule of Aggregate Scheduled Maturities of Notes Payable |
The following schedule summarizes our debt payable as of March 31, 2025 (in thousands): | | | | | | | Principal payments due in: | | | 2025 | $ | 16,254 | | | 2026 | 133,055 | | | 2027 | 72,597 | | | 2028 | 3,395 | | | 2029 | 408,562 | | | Thereafter | 20,376 | | | Total debt, excluding deferred loan costs | $ | 654,239 | |
(1) See “Note 14–Fair Value” for interest rate cap agreements on variable rate mortgage notes payable.
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