| Schedule of Debt |
The following table summarizes the Company's debt as of June 30, 2026 and December 31, 2025: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | As of June 30, 2026 | | As of December 31, 2025 | | Maturity | | Rate Type | | Interest Rate | | Amount | | Interest Rate | | Amount | | Mortgages Payable | | | | | | | | | | | | | Total mortgages payable | Various | | Fixed | | 4.28% (a) | | $ | 117,222 | | | 4.28% (a) | | $ | 117,605 | | | | | | | | | | | | | | | Term Loan | | | | | | | | | | | | $200.0 million 5 year | Aug-30 | | Fixed | | 2.66% (b) | | 100,000 | | | 2.66% (b) | | 100,000 | | $200.0 million 5 year | Aug-30 | | Fixed | | 2.66% (b) | | 100,000 | | | 2.66% (b) | | 100,000 | | $200.0 million 5.5 year | Feb-31 | | Fixed | | 2.63% (c) | | 50,000 | | | 2.63% (c) | | 50,000 | | $200.0 million 5.5 year | Feb-31 | | Fixed | | 2.69% (c) | | 50,000 | | | 2.69% (c) | | 50,000 | | $200.0 million 5.5 year | Feb-31 | | Fixed | | 4.84% (c) | | 100,000 | | | 4.84% (c) | | 100,000 | | | Total | | | | | | | 400,000 | | | | | 400,000 | | | | | | | | | | | | | | | Senior Notes | | | | | | | | | | | | | 2022 Senior Notes | | | | | | | | | | | | $150.0 million Series A Notes | Aug-29 | | Fixed | | 5.07% | | 150,000 | | | 5.07% | | 150,000 | | $100.0 million Series B Notes | Aug-32 | | Fixed | | 5.20% | | 100,000 | | | 5.20% | | 100,000 | | | 2026 Senior Notes | | | | | | | | | | | | $50.0 million Series A Notes | Jun-29 | | Fixed | | 5.09% | | 50,000 | | | N/A | | — | | $100.0 million Series B Notes | Jun-31 | | Fixed | | 5.32% | | 100,000 | | | N/A | | — | | $100.0 million Series C Notes | Jun-33 | | Fixed | | 5.60% | | 100,000 | | | N/A | | — | | | Total | | | | | | | 500,000 | | | | | 250,000 | | | | | | | | | | | | | | | Revolving Credit Facility | | | | | | | | | | | | $500.0 million total capacity | Jan-29 | | Variable | | 1M SOFR + 1.05% (d)(e) | | 75,000 | | | 1M SOFR + 1.05% (d)(e) | | 55,000 | | | | | | | | | | | | | | | Total secured and unsecured debt | | | | | 4.36% | | 1,092,222 | | | 4.04% | | 822,605 | | | | | | | | | | | | | | | Finance Lease Liability | | | | | | | | | | | | | West Ashley Station Ground Lease | Jan-92 | | N/A | | N/A | | 11,184 | | | N/A | | 11,082 | | | | | | | | | | | | | | | Debt discounts and financing costs, net | | | | | | (8,610) | | | | | (7,806) | | | Debt, net | | | | | | | $ | 1,094,796 | | | | | $ | 825,881 | |
(a)Interest rates reflect the weighted average of the Company's mortgages payable. (b)Interest rates reflect the fixed rates achieved through the Company's effective interest rate swaps terminating on September 22, 2026, at which point the fixed interest rate will become 4.50%. (c)Interest rates reflect the fixed rates achieved through the Company's effective interest rate swaps terminating on March 22, 2027, at which point the weighted average fixed interest rate will become 4.58%. (d)As of June 30, 2026 and December 31, 2025, 1-Month Term SOFR was 3.65% and 3.69%, respectively. (e)Interest rate applies to drawn balance only. An additional annual facility fee of 0.15% applies to entire Revolving Credit Facility capacity.
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| Schedule of Payments And Maturities of the Debt |
The following table summarizes the scheduled payments and maturities of the Company's debt as of June 30, 2026: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Scheduled maturities by year: | Mortgage Payments | | Mortgage Maturities | | Term Loan &
Senior Notes | | Revolving
Credit Facility | | Total | | Remaining 2026 | $ | 390 | | | $ | — | | | $ | — | | | $ | — | | | $ | 390 | | | 2027 | 810 | | | 26,000 | | | — | | | — | | | 26,810 | | | 2028 | 495 | | | 21,321 | | | — | | | — | | | 21,816 | | | 2029 | 449 | | | 61,750 | | | 200,000 | | | 75,000 | | | 337,199 | | | 2030 | 154 | | | 5,853 | | | 200,000 | | | — | | | 206,007 | | | Thereafter | — | | | — | | | 500,000 | | | — | | | 500,000 | | | Total | $ | 2,298 | | | $ | 114,924 | | | $ | 900,000 | | | $ | 75,000 | | | $ | 1,092,222 | | | Finance lease liability | | | | | | | | | 11,184 | | | Debt discounts and financing costs, net | | | | | | | | | (8,610) | | | Total Debt, net | | | | | | | | | $ | 1,094,796 | |
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