v3.26.1
Derivative Instruments and Hedging Activities (Tables)
 6 Months Ended
Jun. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments
The following table presents the terms of our derivative financial instruments (notional amounts in thousands):
As of June 30, 2026
Interest Rate DerivativesNumber of InstrumentsNotional AmountWeighted Average Interest RateIndexWeighted Average Remaining Term (Years)
Interest rate swaps7$440,0004.81%SOFR2.4
As of December 31, 2025
Interest Rate DerivativesNumber of InstrumentsNotional AmountWeighted Average Interest RateIndexWeighted Average Remaining Term (Years)
Interest rate swaps7$440,0004.81%SOFR2.9
Schedule of Fair Value of Derivative Financial Instruments
Our derivative financial instruments are classified as Level 2 in the fair value hierarchy. The following table presents the fair value of our derivative financial instruments:
As of June 30,As of December 31,
(amounts in thousands)Balance Sheet Location20262025
Interest rate swapsOther assets, net$2,900 $— 
Interest rate swapsAccounts payable and other liabilities$— $2,208 
Schedule of Effect of Derivative Instruments on Consolidated Statements of Operations
The following table presents the amount of (gain)/loss recognized in Other comprehensive income/(loss) on derivatives in the Consolidated Statements of Income and Comprehensive Income (in thousands):
Derivatives in Cash Flow Hedging Relationship
For the Quarters Ended June 30,
For the Six Months Ended June 30,
2026202520262025
Interest rate swaps$(3,032)$1,874 $(5,306)$2,782 
The following table presents the amount of (gain)/loss reclassified from Accumulated other comprehensive income/(loss) into income in the Consolidated Statements of Income and Comprehensive Income (in thousands):
Derivatives in Cash Flow Hedging RelationshipLocation of (gain)/ loss reclassified from
Accumulated OCI into income
For the Quarters Ended June 30,
For the Six Months Ended June 30,
2026202520262025
Interest rate swapsInterest Expense$(76)$(810)$(198)$(1,531)