v3.25.4
Debt (Tables)
9 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Mortgage Loans and Variable Funding Notes The following table details the mortgage loans and variable funding notes of the Company outstanding at December 31, 2025:
Indebtedness
Weighted
Average
Interest Rate(1)
Weighted Average
Maturity Date (4)
Maximum Facility Size
Principal Balance Outstanding
Mortgage loans
Secured fixed rate ABS loans (2)
4.82%
6/24/2028N/A$1,775,000 
Variable funding notes
Secured variable funding notes (3)
S + 1.85%
5/27/2028100,000 30,578 
Total indebtedness$1,805,578 
Discount on assumed debt, net
(4,165)
Secured mortgage loans and notes, net$1,801,413 
__________________
(1)The term “S” refers to the relevant floating benchmark rates, one-month SOFR
(2)The secured ABS mortgage loans have fixed interest rates ranging from 1.88% to 5.90% and anticipated repayment maturity dates ranging from March 2026 to May 2030.
(3)The secured variable funding notes bear interest based on the term SOFR plus a 10 basis point adjustment, plus a margin of 175 basis points. The maturity date of May 27, 2028 excludes the impact of certain extension options.
(4)The maturity date on our secured fixed rate ABS loans is the anticipated repayment date.
Schedule of Future Principal Payments
The following table details the future principal payments due under the Company’s outstanding borrowings as of December 31, 2025:
YearAmount
2026$400,000 
2027– 
2028820,578 
2029240,000 
2030345,000 
Thereafter— 
Total$1,805,578