| Schedule of Interest Rate Derivatives |
We have the following derivatives (dollars in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Fair Value of Assets (Liabilities) | | Hedged Debt | | Type | | Fixed Rate | | Index | | Effective Date | | Maturity Date | | Notional Amount | | September 30,
2026 | | December 31, 2025 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Unsecured term loans | | Swap | | 3.36 | % | | SOFR | | March 1, 2023 | | January 1, 2028 | | $ | 75,000 | | | $ | 1,048 | | | $ | (138) | | | Unsecured term loans | | Swap | | 3.50 | % | | SOFR | | March 1, 2023 | | January 1, 2027 | | $ | 75,000 | | | 97 | | | (82) | | | Unsecured term loans | | Swap | | 3.27 | % | | SOFR | | October 1, 2024 | | January 1, 2028 | | $ | 37,500 | | | 565 | | | (4) | | | Unsecured term loans | | Swap | | 3.27 | % | | SOFR | | October 1, 2024 | | January 1, 2028 | | $ | 37,500 | | | 565 | | | (4) | | | Unsecured term loans | | Swap | | 3.07 | % | | SOFR | | January 2, 2025 | | January 1, 2027 | | $ | 25,000 | | | 60 | | | 80 | | | Unsecured term loans | | Swap | | 3.25 | % | | SOFR | | January 2, 2025 | | January 1, 2026 | | $ | 75,000 | | | — | | | 1 | | | Unsecured term loans | | Swap | | 3.29 | % | | SOFR | | January 2, 2026 | | January 1, 2029 | | $ | 75,000 | | | 2,176 | | | (11) | | | Unsecured term loans | | Swap | | 3.07 | % | | SOFR | | January 4, 2027 | | January 1, 2029 | | $ | 50,000 | | | 1,570 | | | 155 | | | Unsecured term loans | | Swap | | 3.83 | % | | SOFR | | June 25, 2026 | | January 2, 2030 | | $ | 50,000 | | | 1,271 | | | — | | | Unsecured term loans | | Swap | | 3.83 | % | | SOFR | | June 25, 2026 | | January 2, 2030 | | $ | 50,000 | | | 1,268 | | | — | | | Unsecured term loans | | Swap | | 4.00 | % | | SOFR | | August 12, 2026 | | January 2, 2029 | | $ | 50,000 | | | 689 | | | — | | | Unsecured term loans | | Swap | | 3.93 | % | | SOFR | | August 13, 2026 | | January 2, 2029 | | $ | 50,000 | | | 762 | | | — | | | | | | | | | | | | | | | | $ | 10,071 | | | $ | (3) | |
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| Schedule of Gains and Losses Recognized on Derivative Financial Statements |
The table below details the location in the consolidated financial statements of the gains and losses recognized related to derivative financial instruments (in thousands):
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | Effect of derivative instruments | | Location in Statements of Operations and Comprehensive Income | | 2026 | | 2025 | | 2026 | | 2025 | | Gain (loss) recognized in other comprehensive income | | Unrealized gain (loss) on interest rate derivative instruments | | $ | 6,514 | | | $ | (664) | | | $ | 10,075 | | | $ | (4,505) | | | Interest (income) for derivatives that were designated as cash flow hedges | | Interest expense | | $ | (174) | | | $ | (847) | | | $ | (673) | | | $ | (2,485) | | | | | | | | | | | | |
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