v3.26.3
Derivative Instruments and Hedging Activity (Tables)
 9 Months Ended
Sep. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of notional amounts of outstanding derivative positions
The Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk as of the dates presented (dollars in thousands):
Number of Instruments(1)
Notional Amount(1)
September 30,December 31,September 30,December 31,
Interest Rate Derivatives2026202520262025
Interest rate swaps713$700,000 $900,000 
(1)Number of instruments and total notional amounts disclosed includes all interest rate swap agreements outstanding at the balance sheet dates, including forward-starting interest rate swaps prior to their effective date.
Schedule of cash flow hedging instruments, as well as their classification in the Condensed Consolidated Balance Sheets
The tables below present the estimated fair value of the Company’s derivative financial instruments, as well as their classification in the condensed consolidated balance sheets as of the dates presented (in thousands):
Asset Derivatives
September 30, 2026December 31, 2025
Derivatives designated as cash flow hedges:
Other assets, net$29,567 $5,972 

Liability Derivatives
September 30, 2026December 31, 2025
Derivatives designated as cash flow hedges:
Accounts payable, accrued expenses, and other liabilities$— $2,814 
Schedule of cash flow hedges included in accumulated other comprehensive income (loss)
The tables below present the effect of the Company’s derivative financial instruments in the condensed consolidated statements of operations and other comprehensive income for the periods presented (in thousands):
Amount of Income/(Loss) Recognized
in OCI on Derivative		Location of Accumulated OCI
Reclassified from Accumulated
OCI into Income		Amount Reclassified from
Accumulated OCI as a
(Reduction)/Increase in Interest Expense
Three Months Ended September 30,2026202520262025
Interest rate swaps$29,707 $1,408 Interest expense$(1,575)$(1,772)
Amount of Income/(Loss) Recognized
in OCI on Derivative		Location of Accumulated OCI
Reclassified from Accumulated
OCI into Income		Amount Reclassified from
Accumulated OCI as a
(Reduction)/Increase in Interest Expense
Nine Months Ended September 30,2026202520262025
Interest rate swaps$46,639 $(3,849)Interest expense$(4,117)$(4,728)
Schedule of offsetting assets and liabilities
The tables below present a gross presentation of the effects of offsetting and a net presentation of the Company’s derivatives as of the dates presented (in thousands):
Offsetting of Derivative Assets

Gross Amounts
of Recognized
Assets		Gross Amounts
Offset in the
Statement of
Financial
Position		Net Amounts of
Assets presented
in the Statement
of Financial
Position		Gross Amounts Not Offset in the
Statement of Financial Position
Derivatives as ofFinancial
Instruments		Cash Collateral
Received		Net Amount
September 30, 2026$29,567 $— $29,567 $— $— $29,567 
December 31, 2025$5,972 $— $5,972 $(757)$— $5,215 

Offsetting of Derivative Liabilities

Gross Amounts
of Recognized
Liabilities		Gross Amounts
Offset in the
Statement of
Financial
Position		Net Amounts of
Liabilities presented
in the Statement
of Financial
Position		Gross Amounts Not Offset in the
Statement of Financial Position
Derivatives as ofFinancial
Instruments		Cash Collateral
Received		Net Amount
September 30, 2026$— $— $— $— $— $— 
December 31, 2025$2,814 $— $2,814 $(757)$— $2,057