Mortgage Notes |
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| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mortgage Notes | 6. Mortgage Notes The following table details the Company’s mortgage notes as of March 31, 2026 and December 31, 2025 ($ in thousands):
The following table details the future principal payments due under the Company’s mortgage notes as of March 31, 2026 ($ in thousands):
For the three months ended March 31, 2026, the Company recognized interest expense of $2.7 million related to its outstanding mortgage notes, which included amortization of deferred financing costs of $24,000. For the three months ended March 31, 2025, the Company recognized interest expense of $2.7 million related to its outstanding mortgage notes, which included amortization of deferred financing costs of $22,000. The Company had $0.4 million of interest expense payable related to the outstanding mortgage notes as of March 31, 2026 and no interest expense payable related to the outstanding mortgage notes as of December 31, 2025. The Company is subject to various financial covenants under certain of its mortgage notes. These covenants require the Company to maintain certain financial ratios, including ratios relating to tangible net worth and liquidity, among others. As of March 31, 2026, the Company was in compliance with all of its loan covenants that could result in a default under such agreements. |
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