v3.26.1
Debt and Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Summary of Required Compliance Ratios Giving Effect to New Covenants in Credit Agreement

The following table includes a summary of the required compliance ratios, giving effect to the covenants contained in the Credit Agreement (dollar amounts in thousands):

 

 

Covenant

 

June 30,
2026

 

December 31,
2025

 

Tangible net worth (a)

 

>= $100,000

 

$

139,035

 

$

146,744

 

Total leverage

 

< =60%

 

 

43.8

%

 

43.6

%

Secured leverage

 

< =30%

 

 

2.2

%

 

2.3

%

Unencumbered leverage

 

< =60%

 

 

45.6

%

 

45.4

%

Fixed charge coverage

 

>=1.50x

 

3.5x

 

3.3x

 

 

(a) As discussed above, in April, 2026, the minimum tangible net worth requirement was changed to $100 million pursuant to the terms of the First Amendment.
Outstanding Mortgages, Excluding Net Debt Premium

As indicated on the following table, we have various mortgages, all of which are non-recourse to us, included on our condensed consolidated balance sheet as of June 30, 2026 (amounts in thousands):

Facility Name

 

Outstanding
Balance
(in thousands) (a.)

 

 

Interest
Rate

 

 

Maturity
Date

Phoenix Children’s East Valley Care Center fixed rate
   mortgage loan

 

$

7,198

 

 

 

3.95

%

 

January, 2030

Rosenberg Children's Medical Plaza fixed rate mortgage loan

 

 

11,077

 

 

 

4.42

%

 

September, 2033

Total, excluding net debt premium and net financing fees

 

 

18,275

 

 

 

 

 

 

     Less net financing fees

 

 

(125

)

 

 

 

 

 

Total mortgages notes payable, non-recourse to us, net

 

$

18,150

 

 

 

 

 

 
(a.)
All mortgage loans require monthly principal payments through maturity and either fully amortize or include a balloon principal payment upon maturity.