v3.25.1
Derivatives and Hedging (Tables)
 3 Months Ended
Mar. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in the Balance Sheets
The following table presents the fair values of derivative assets and liabilities in the condensed consolidated balance sheets (in thousands):
March 31, 2025
Derivative AssetDerivative Liability
Notional AmountFair ValueNotional AmountFair Value
Interest rate cap (SOFR-based)
$185,109 $975 $— $— 
Total derivatives, net$185,109 $975 $— $— 

December 31, 2024
Derivative AssetDerivative Liability
Notional AmountFair ValueNotional AmountFair Value
Interest rate cap (SOFR-based)
$185,145 $1,465 $— $— 
Total derivatives, net$185,145 $1,465 $— $— 
Schedule of Derivative Instruments in the Statement of Operations
The following table presents the effect of the derivative instruments on the condensed consolidated statements of operations (in thousands):
Three Months Ended March 31,
20252024
Derivative not designated as hedge
Interest rate cap
Loss on derivatives not designated as hedges included in interest expense$(490)$(527)