Mortgage Loans Payable (Tables)

6 Months Ended

Jun. 30, 2026

Mortgage Loans Payable [Abstract]

Mortgage Loans Payable, Net

Mortgage loans payable, net consisted of the following as of June 30, 2026 and December 31, 2025 (dollars in thousands):


		June 30, 2026				December 31, 2025
Fixed-rate debt (84 and 85 loans as of June 30, 2026 and December 31, 2025, respectively)		$	890,070			$	985,565
Less: deferred financing costs, net			(8,293	)			(9,214	)
Less: discount			(8,425	)			(9,426	)
Mortgage loans payable, net		$	873,352			$	966,925

Schedule of Activity Related to Mortgage Loans Payable

The following table reflects the changes in the carrying amount of mortgage loans payable, net for the periods presented below (in thousands):


		Six Months Ended June 30,
		2026				2025
Beginning balance		$	966,925			$	982,071
Additions:
Borrowings under mortgage loans payable			—				30,000
Amortization of deferred financing costs			920				869
Amortization of discount/premium on mortgage loans payable, net			1,001				2,291
Deductions:
Scheduled principal payments on mortgage loans payable			(95,494	)			(15,454	)
Payoff of mortgage loans payable due to dispositions of real estate investments			—				(15,254	)
Deferred financing costs			—				(1,013	)
Ending balance		$	873,352			$	983,510

Principal Payments Due on Mortgage Loans Payable

As of June 30, 2026, the principal payments due on our mortgage loans payable for the remaining six months ending December 31, 2026 and for each of the next four years ending December 31, and thereafter were as follows (in thousands):


Year		Amount
2026		$	64,192
2027			56,182
2028			139,740
2029			16,963
2030			44,732
Thereafter			568,261
Total		$	890,070