v3.26.1
Derivative Instruments (Tables)
6 Months Ended
Jun. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Financial Instruments

The following table details our derivative financial instruments as of June 30, 2026 (dollars in thousands):

   

Interest Rate Derivative  Notional Amount   Strike Price   Maturity Date
1991 Main Construction Loan interest rate cap  $130,000    5.07%  July 2026
1000 First Construction Loan interest rate cap  $104,000    6.25%  July 2026
Aster & Links Loans interest rate caps  $204,138    6.00%  October 2027
Schedule of Fair Value of Our Derivative Financial Instruments

The following table details the fair value of our derivative financial instruments (amounts in thousands):

 

   Fair Value (1) 
Interest Rate Derivative  June 30, 2026   December 31, 2025 
   (unaudited)     
Interest rate caps  $62   $11 

 

 

(1)Amounts are included in Other assets in our consolidated balance sheets.
Schedule of Effect of Derivative Financial Instruments

The following table details the effect of our derivative financial instruments on our consolidated statements of operations (amounts in thousands):

 

      Three Months Ended June 30,   Six Months Ended June 30, 
Interest Rate Derivative  Location of Gain (Loss)  2026   2025   2026   2025 
      (unaudited)   (unaudited)   (unaudited)   (unaudited) 
Interest rate caps  Other income (expense)  $6   $(3)  $51   $(6)