As of June 30, 2025, future principal payments for the following five years and thereafter are as follows (dollars in thousands):


Year	Total indebtedness		Collateralized loan obligations(1)		Secured credit agreements(2)		Secured revolving credit facility(2)		Asset-specific financing arrangements(3)		Mortgage loan payable
2025	$	113,849	$	63,449	$	50,400	$	—	$	—	$	—
2026	899,189		899,189		—		—		—		—
2027	580,840		531,390		20,340		—		29,110		—
2028	829,233		344,221		85,971		367,841		—		31,200
2029	362,027		362,027		—		—		—		—
Thereafter	252,101		252,101		—		—		—		—
Total	$	3,037,239	$	2,452,377	$	156,711	$	367,841	$	29,110	$	31,200

(1)The scheduled maturities for the investment grade bonds issued by the Company's CRE CLOs are based upon the fully extended maturity of the underlying mortgage loan collateral, considering the reinvestment window of each CRE CLO.

(2)The scheduled maturities of the Company's secured credit agreement liabilities are based on the extended maturity date for the specific credit agreement where extension options are at the Company's option, subject to standard default provisions, or the current maturity date of those credit agreements where extension options are subject to counterparty approval.

(3)The scheduled maturities of the Company's asset-specific financing arrangements are based on the fully extended maturity date of the underlying mortgage loan collateral.