v3.26.1
Notes Payable, Bank Credit Facility, Interest and Amortization of Deferred Debt Costs (Tables)
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Revolving Credit Facility
(Dollars in thousands)Credit Facility
 Term LoanRevolving Credit FacilityTotal
Facility Size$140,000 $460,000 $600,000 
MaturityJuly 28, 2028July 30, 2029
ExtensionTwo for one year eachOne for one year
Interest RateSOFRSOFR
Spread
1.30% to 1.90%
1.35% to
1.95%
Issue Letters of CreditYes
GuaranteeSaul Centers and certain subsidiaries of the Operating Partnership
Scheduled Maturities of Debt, Including Scheduled Principal Amortization
At June 30, 2026, future principal payments of debt, including scheduled maturities and amortization, for years ending December 31, were as follows:

(Dollars in thousands)Principal Payments
July 1 through December 31, 2026$50,764 
202739,127 
2028198,002 (1)
2029163,448 (2)
203064,383 
203142,110 
Thereafter1,069,801 
Principal amount1,627,635 
Unamortized deferred debt costs23,493 
Net$1,604,142 
 
(1)Includes $140.0 million outstanding under the Term Loan.
(2)Includes $89.0 million outstanding under the Revolving Credit Facility.
Schedule of Interest Expense and Amortization of Deferred Debt Costs
Interest expense, net and amortization of deferred debt costs for the three and six months ended June 30, 2026 and 2025, were as follows:

Three Months Ended
June 30,
Six Months Ended
June 30,
(Dollars in thousands)2026202520262025
Interest incurred$19,721 $19,146 $39,038 $38,043 
Amortization of deferred debt costs879 625 1,735 1,252 
Capitalized interest(489)(2,917)(932)(5,648)
Subtotal20,111 16,854 39,841 33,647 
Less: Interest income(77)(34)(157)(80)
Interest expense, net and amortization of deferred debt costs$20,034 $16,820 $39,684 $33,567