Business Transactions |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Business Combination [Abstract] | |
| Business Transactions | Note 3. Business Transactions Credit Agreement On March 25, 2026, the Company amended and restated its credit facility with JPMorgan Chase Bank, N.A. serving as administrative agent for the lenders party thereto. The Credit Agreement (as defined below) includes a new $500 million delayed draw term loan and a $1.335 billion revolving credit facility, on an unsecured basis, replacing the previously secured revolving credit facility. Upon the Effective Date (as defined below), the liens securing the loans under the Company’s prior secured revolving credit facility were released. See Note 8. Debt Obligations for further description of the Credit Agreement. Development Loan Payoff On April 1, 2026, the Company received a payoff of $284.2 million related to one of its development loans with an unaffiliated third party. The payment settled all outstanding principal, accrued interest, and fees associated with the loan. As a result, the Company derecognized the outstanding principal and accrued interest balances related to the development loan from its condensed consolidated balance sheets. In addition, the Company reduced its allowance for credit losses by $0.9 million to reflect the removal of the loan from its development loan portfolio. |