v3.26.1
Debt (Tables)
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Debt
Debt consists of the following (in thousands):
Amounts Outstanding as of
Contractual Maturity Date
Fully Extended Maturity Date (1)
Interest Rate (2)
Hedged Interest Rate (3)
June 30, 2026December 31, 2025
Debt:
2028 Term LoanFebruary 11, 2028—4.57%3.58%$200,000 $200,000 
2029 Term LoanJuly 3, 2027January 3, 20294.52%4.64%250,000 250,000 
2030 Term Loan AJanuary 15, 2029January 15, 20304.57%3.35%175,000 175,000 
2030 Term Loan BJanuary 15, 2029January 15, 20304.59%4.82%175,000 175,000 
2031 Term LoanMarch 25, 2031—4.59%4.39%200,000 200,000 
2032 Term LoanSeptember 24, 2032—4.89%4.67%200,000 100,000 
RevolverJanuary 15, 2029January 15, 20304.49%—198,500 — 
Mortgage NoteNovember 1, 2027—4.53%—7,957 8,042 
Total debt1,406,457 1,108,042 
Unamortized discount and debt issuance costs(7,193)(6,897)
Unamortized deferred financing costs, net (4)
(3,674)(5,657)
Total debt, net$1,395,590 $1,095,488 
(1) Date represents the fully extended maturity date available to the Company, subject to certain conditions, under each related debt instrument.
(2) Represents the stated interest rate within the respective debt agreement as of June 30, 2026. The term loans and Revolver bear a floating interest rate (SOFR) plus the applicable margin as described further in “Note 6 – Debt”.
(3) Represents the weighted-average hedged fixed rate plus the applicable margin as of June 30, 2026, as described further in “Note 6 – Debt” and “Note 7 – Derivative Financial Instruments.”
(4) The Company records deferred financing costs associated with the Revolver and loan commitment fees associated with the 2032 Term Loan in other assets, net in the condensed consolidated balance sheets. The Company reclassified the net amount of loan commitment fees associated with the 2029 Term Loan from other assets, net to debt issuance costs upon the $100.0 million draw under the 2029 Term Loan. The Company partially reclassified the net allocated amount of loan commitment fees associated with the 2032 Term Loan from other assets, net to debt issuance costs upon the two $50.0 million draws under the 2032 Term Loan.
Interest Income and Interest Expense Disclosure
The following table is a summary of the components of interest expense related to the Company’s borrowings (in thousands):

Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Revolving credit facilities (1)
$880 $2,104 $1,158 $3,566 
Term loans (2)
12,973 8,993 25,253 17,551 
Mortgage note payable91 93 182 186 
Non-cash:
Amortization of deferred financing costs325 301 675 551 
Amortization of debt discount and debt issuance costs, net674 472 1,324 914 
Amortization of deferred losses on interest rate swaps713 713 1,418 1,418 
Capitalized interest(102)(38)(190)(88)
Total interest expense, net$15,554 $12,638 $29,820 $24,098 
(1) Includes facility fees of approximately $0.3 million and $0.2 million for the three months ended June 30, 2026 and 2025, respectively, and facility fees of $0.5 million and $0.4 million for the six months ended June 30, 2026 and 2025, respectively.
(2) Includes the effects of interest rate hedges.
Schedule of Maturities of Long-term Debt As of June 30, 2026, scheduled debt maturities, including balloon payments, are as follows (in thousands):
Scheduled Principal Payment
Balloon Payment (1)
Total
Remainder of 2026$90 $— $90 
2027170 257,697 257,867 
2028— 200,000 200,000 
2029— 548,500 548,500 
2030— — — 
Thereafter— 400,000 400,000 
Total$260 $1,406,197 $1,406,457 
(1) Does not assume the exercise of any extension options available to the Company.