v3.25.2
SUBSEQUENT EVENTS
6 Months Ended
Jun. 30, 2025
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS SUBSEQUENT EVENTS
Subsequent to June 30, 2025:
one of our properties experienced severe flooding. We believe that we have adequate third-party insurance, subject to a $0.3 million deductible, including business interruption coverage, to address this matter, and at this time, we do not believe that the flood will have a significant adverse impact on our results of operations or financial condition on a consolidated basis;
we closed on the disposition of Humblewood Shopping Center, an 85,682 square foot multi-tenant retail property in the Houston MSA, which was classified as held for sale as of June 30, 2025, for a gross sales price of $18.3 million with an anticipated gain on sale. The proceeds are restricted for 180 days related to a potential 1031 Exchange; and
the Operating Partnership amended the pricing terms of the Revolving Facility, $300M Term Loan, and $250M Term Loan to remove the 0.10% SOFR spread adjustment; in addition, the credit ratings-based pricing credit spread on the $300M Term Loan decreased from a range of 1.15% to 2.20% to a range of 0.75% to 1.60%.