v3.26.1
Derivatives (Tables)
6 Months Ended
Jun. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Outstanding Derivatives
The following table details the Company’s outstanding interest rate swaps that were non-designated hedges of interest rate risk (notional amount in thousands):
June 30, 2026
Interest rate swapNumber of InstrumentsNotional AmountWeighted-Average Strike RateIndexWeighted-Average Maturity (Years)Weighted-Average Commencement DateWeighted-Average Maturity Date
Interest rate swaps – mortgage notes4$120,100 3.59%SOFR2.3August 17, 2025October 19, 2028
December 31, 2025
Interest rate swapNumber of InstrumentsNotional AmountWeighted-Average Strike RateIndexWeighted-Average Maturity (Years)Weighted-Average Commencement DateWeighted-Average Maturity Date
Interest rate swaps – mortgage notes4$120,100 3.59%SOFR2.8August 17, 2025October 19, 2028
Schedule of Fair Value of Derivative Financial Instruments
The following table details the fair value of the Company's derivative financial instruments ($ in thousands):
Fair Value of Derivatives(1)
June 30, 2026December 31, 2025
Interest rate swaps - Asset$858 $— 
Interest rate swaps - Liability(72)(354)
(1)The derivative asset and liability balances as of June 30, 2026 and December 31, 2025 are included in other assets and accounts payable, accrued expenses and other liabilities, respectively.