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Debt (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Maturity Amounts Outstanding Under Credit Agreement and Senior Unsecured Notes

The amounts outstanding under our Revolving Credit Facility, Term Loan, and Senior Unsecured Notes, exclusive of extension options, are as follows (in thousands):


			Year ended December 31,
	Maturity Date	Interest Rate	2023			2022
Revolving Credit Facility	October 2025	5.60%	$	10,000		$	70,000
Term Loan	October 2025	6.13%		75,000		$	—
Series B Notes	June 2023	5.35%		—			75,000
Series C Notes	February 2025	4.75%		50,000			50,000
Series D-E Notes	June 2028	5.47%		100,000			100,000
Series F-H Notes	September 2029	3.52%		125,000			125,000
Series I-K Notes	November 2030	3.43%		175,000			175,000
Series L-N Notes	February 2032	3.45%		100,000			100,000
Series O-Q Notes	January 2033	3.65%		125,000			—
Total debt				760,000			695,000
Unamortized debt issuance costs, net (a)				(5,266	)		(3,545	)
Total debt, net			$	754,734		$	691,455

(a)

Unamortized debt issuance costs related to the Revolving Credit Facility were $1,364 and $2,036, respectively, as of December 31, 2023 and 2022, and are included in prepaid expenses and other assets on our consolidated balance sheets.

Summary of Scheduled Debt Maturities, Including Balloon Payments

As of December 31, 2023, scheduled debt maturities, including balloon payments, are as follows (in thousands):


	Revolving Credit Facility		Term Loan		Senior Unsecured Notes		Total
2024	$	—	$	—	$	—	$	—
2025 (a) (b)		10,000		75,000		50,000		135,000
2026		—		—		—		—
2027		—		—		—		—
2028		—		—		100,000		100,000
Thereafter		—		—		525,000		525,000
Total	$	10,000	$	75,000	$	675,000	$	760,000

(a)

The Revolving Credit Facility matures in October 2025. Subject to the terms of the Second Restated Credit Agreement and our continued compliance with its provisions, we have the option to extend the term for two six month periods to October 2026.

(b)

The Term Loan matures in October 2025. Subject to the terms of the term loan credit agreement and our continued compliance with its provisions, we have the option to extend the term for one twelve month period to October 2026.