Notes Payable (Tables)

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Schedule of Notes Payable

Notes payable consists of the following (in thousands):

	Weighted average interest rate	Maturity Date	March 31, 2024		December 31, 2023
Fixed rate mortgage notes payable	4.6%	2025 to 2045	$	418,275	$	492,998
Variable rate mortgage notes payable (1)	6.3%	2026 to 2029	162,114		137,320
Notes payable - insurance	6.3%	2024	854		1,846
Notes payable - other	8.5%	2024	1,213		1,619
Notes payable			$	582,456	$	633,783
Deferred loan costs, net			4,358		4,361
Total notes payable, net of deferred loan costs			$	578,098	$	629,422
Current portion of notes payable			6,831		42,323
Long-term notes payable, net			$	571,267	$	587,099

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(1) See Note 14 for interest rate cap agreements on variable rate mortgage notes payable.

Schedule of Aggregate Scheduled Maturities of Notes Payable

The following schedule summarizes our notes payable as of March 31, 2024 (in thousands):

Principal payments due in:
2024	$	8,075
2025	31,434
2026	335,214
2027	3,597
2028	3,719
Thereafter	200,417
Total notes payable, excluding deferred loan costs	$	582,456