v3.26.1
Debt (Tables)
6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Notes Payable
Long-term debt balances, including associated interest rates and maturities consists of the following (in thousands):
Weighted average
interest rate
June 30,
2026
December 31,
2025
Maturity DateJune 30,
2026
December 31, 2025
Revolving credit facility20305.7%6.6%$258,000 $95,050 
Fixed rate mortgage notes payable
2026 to 2045
4.6%4.6%374,352 384,764 
Variable rate mortgage notes payable (1)
2026 to 2029
5.7%5.9%64,153 67,611 
Ally term loan (1)
20286.3%6.5%122,000 122,000 
Term loan facilities (1)
2029 to 2031
5.7%N/A575,000 — 
Bridge facility (2)
20275.9%N/A170,000 — 
Notes payable - consolidated VIE
2026 to 2027
6.4%6.6%19,933 21,690 
Notes payable - insurance
2026
N/A5.6%— 2,004 
Total debt1,583,438 693,119 
Deferred loan costs, net11,886 3,378 
Total debt, net of deferred loan costs1,571,552 689,741 
Current portion of debt16,138 7,291 
Long-term debt, net$1,555,414 $682,450 
(1) See “Note 15–Fair Value Measurements” for interest rate cap and interest rate swap agreements on variable rate mortgage notes payable.
(2) Subsequent to June 30, 2026, the Company repaid the Bridge Facility with new financing and reclassified the Bridge Facility to long-term debt, net. See “Note 18Subsequent Events.”
Schedule of Aggregate Scheduled Maturities of Notes Payable
The following schedule summarizes our debt payable as of June 30, 2026 (in thousands):
Principal payments due in:
2026$4,471 
2027195,917 
2028134,175 
2029682,999 
2030258,095 
Thereafter307,781 
Total debt, excluding deferred loan costs$1,583,438