v3.25.2
Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Jun. 30, 2025
Accounting Policies [Abstract]  
Schedule of Cash, Cash Equivalents and Restricted Cash

The following table presents a reconciliation of cash, cash held in escrow, and restricted cash reported within our condensed consolidated balance sheets to amounts reported within our condensed consolidated statements of cash flows:

 

 

June 30,

 

 

December 31,

 

 

2025

 

 

2024

 

Cash

 

$

11,399

 

 

$

17,546

 

Cash held in escrow

 

 

1,821

 

 

 

1,964

 

Restricted cash

 

 

24,255

 

 

 

24,117

 

Cash, cash held in escrow, and restricted cash

 

$

37,475

 

 

$

43,627

 
Schedule of Fair Value on a Recurring Basis

The following tables summarize the Company’s forward contract asset, warrant liability and interest rate swaps that are accounted for at fair value on a recurring basis as of June 30, 2025 and December 31, 2024. On May 28, 2025, the Company fully settled its forward contract upon issuing the remaining 79,090 Series C Preferred Units as discussed in Note 9.

 

 

Balance Sheet Line Item

 

Fair Value as of
June 30, 2025

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Interest rate swaps - Asset

 

$

10,295

 

 

$

—

 

 

$

10,295

 

 

$

—

 

Interest rate swaps - Liability

 

$

(174

)

 

$

—

 

 

$

(174

)

 

$

—

 

Warrant liability

 

$

(32,502

)

 

$

—

 

 

$

—

 

 

$

(32,502

)

 

Balance Sheet Line Item

 

Fair Value as of
December 31, 2024

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Forward contract asset

 

$

3,658

 

 

$

—

 

 

$

—

 

 

$

3,658

 

Interest rate swaps - Asset

 

$

17,760

 

 

$

—

 

 

$

17,760

 

 

$

—

 

Interest rate swaps - Liability

 

$

(520

)

 

$

—

 

 

$

(520

)

 

$

—

 

Warrant liability

 

$

(45,908

)

 

$

—

 

 

$

—

 

 

$

(45,908

)