Borrowings (Tables)

12 Months Ended

Dec. 31, 2025

Schedule of Information Related to Borrowings

The following table summarizes the interest expense, non-usage fee and amortization of financing costs incurred on the Wells Credit Facility for the years ended December 31, 2025, December 31, 2024 and December 31, 2023:


	Year Ended December 31,
	2025			2024			2023
Interest expense	$	29,439		$	33,980		$	27,895
Non-usage fee	$	1,200		$	852		$	393
Amortization of financing costs	$	2,523		$	2,091		$	984
Weighted average interest rate	6.2		%	7.5		%	7.2		%
Effective interest rate	7.1		%	8.3		%	7.6		%
Average debt outstanding	$	465,645		$	446,701		$	384,168

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details