v3.25.2
Debt, Net (Tables)
6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Schedule of Debt The following table summarizes the carrying value of debt as of and the debt activity for the periods indicated below (in thousands):
Six Months Ended June 30, 2025
Balance as of December 31, 2024
Debt IssuancesRepayments, Extinguishment and AssumptionsAccretion and Amortization
Balance as of June 30, 2025
Mortgages payable:
Outstanding balance$373,000 $— $— $— $373,000 
Deferred costs(1,778)— — 365 (1,413)
Mortgages payable, net371,222 — — 365 371,587 
Credit facility revolver119,000 13,000 (22,000)— 110,000 
Total debt$490,222 $13,000 $(22,000)$365 $481,587 
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, 2025 (in thousands):
Total
July 1, 2025 to December 31, 2025
$— 
2026110,000 
2027355,000 
Thereafter18,000 
Total$483,000 
Schedule of Mortgage Notes Payable
The Company’s mortgages payable consisted of the following as of June 30, 2025 (dollars in thousands):
Encumbered Properties
Net Carrying Value of Collateralized Properties (1)
Outstanding BalanceWeighted Average Interest RateWeighted Average Years to Maturity
Fixed-rate debt20 $431,496 $373,000 5.02 %1.9
____________________________________
(1)Net carrying value is real estate assets, including right-of-use assets, net of real estate liabilities.