Quarterly report pursuant to Section 13 or 15(d)

Credit Facility, Notes Payable and Derivative Instruments (Tables)

v3.23.2
Credit Facility, Notes Payable and Derivative Instruments (Tables)
6 Months Ended
Jun. 30, 2023
Notes Payable and Revolving Credit Facility  
Schedule of Outstanding borrowings

As of June 30, 2023 and December 31, 2022, the Company had the following outstanding borrowings under the Credit Facility:

    

June 30, 2023

    

December 31, 2022

Revolver

$

76,143

$

145,700

Term Loan A

350,000

350,000

Term Loan B

 

150,000

 

150,000

Less: Unamortized debt issuance costs

 

(8,155)

 

(9,253)

Credit Facility, net

$

567,988

$

636,447

Schedule of Aggregate balances of loans payable

    

June 30, 2023

    

December 31, 2022

Notes payable

$

57,496

$

58,124

Unamortized debt issuance costs

 

(375)

 

(452)

Notes payable, net

$

57,121

$

57,672

Schedule of Comprehensive Income (Loss)

The table below details the components of the amounts presented on the accompanying Condensed Consolidated Statements of Comprehensive Income recognized on the Company’s interest rate swaps designated as cash flow hedges for the three and six months ended June 30, 2023 and 2022:

Three Months Ended June 30, 

Six Months Ended June 30, 

    

2023

    

2022

    

2023

    

2022

Amount of gain recognized in other comprehensive income

$

(12,180)

$

(4,757)

$

(8,023)

$

(20,634)

Amount of gain (loss) reclassified from accumulated other comprehensive income into interest expense

 

3,731

 

(1,013)

 

6,838

 

(2,529)

Total change in accumulated other comprehensive income

$

(8,449)

$

(5,770)

$

(1,185)

$

(23,163)

Rosedale Loan [Member]  
Notes Payable and Revolving Credit Facility  
Schedule of Maturities of Long-term Debt

As of June 30, 2023, scheduled principal payments due for each year ended December 31 were as follows:

2023 (six months remaining)

$

197

2024

 

405

2025

13,158

Total

$

13,760

Dumfries Loan [Member]  
Notes Payable and Revolving Credit Facility  
Schedule of Maturities of Long-term Debt

As of June 30, 2023, scheduled principal payments due for each year ended December 31 were as follows:

2023 (six months remaining)

$

152

2024

 

11,034

Total

$

11,186

Cantor Loan [Member]  
Notes Payable and Revolving Credit Facility  
Schedule of Maturities of Long-term Debt

As of June 30, 2023, scheduled principal payments due for each year ended December 31 were as follows:

2023 (six months remaining)

$

236

2024

 

492

2025

 

523

2026

29,882

Total

$

31,133