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Debt (Tables)
 6 Months Ended
Jun. 30, 2023
Debt Disclosure [Abstract]  
Schedule of Debt
As of June 30, 2023 and December 31, 2022, the Company’s consolidated debt consisted of the following:
June 30, 2023December 31, 2022
Contractual Interest 
Rate (1)
Loan
Maturity(4)
Effective Interest Rate (2)
Samsonite Mortgage Loan$17,414 $17,998 6.08%September 20234.96%
Highway 94 Mortgage Loan12,229 12,740 3.75%August 20245.01%
Pepsi Bottling Ventures Mortgage Loan17,640 17,836 3.69%October 20243.93%
AIG Loan II121,153 122,328 4.15%November 20254.96%
BOA II Loan250,000 250,000 4.32%May 20284.14%
AIG Loan98,710 99,794 4.96%February 20295.09%
HealthSpring Mortgage Loan— 19,107 —%(7)——%
Total Mortgage Debt 517,146 539,803 
Revolving Credit Facility 400,000 — 
SOF Rate + 1.30%
(3)January 2026(6)6.70%
2024 Term Loan— 400,000 —%(5)——%
2025 Term Loan 400,000 400,000 
SOF Rate + 1.25%
(3)December 20256.65%
2026 Term Loan150,000 150,000 
SOF Rate + 1.25%
(3)April 20266.49%
Total Debt1,467,146 1,489,803 
Unamortized Deferred Financing Costs and Discounts, net(6,610)(4,401)
Total Debt, net$1,460,536 $1,485,402 
(1)Including the effect of the interest rate swap agreements with a total notional amount of $750.0 million, the weighted average interest rate as of June 30, 2023 was 4.16% for both the Company’s fixed-rate and variable-rate debt combined and 3.79% for the Company’s fixed-rate debt only.
(2)Reflects the effective interest rate as of June 30, 2023 and includes the effect of amortization of discounts/premiums and deferred financing costs, but excludes the effect of the interest rate swaps.
(3)The applicable SOFR as of June 30, 2023 (assuming a five day look-back per the credit facility agreement) was 5.05%, which excludes a 0.1% per annum index adjustment as required per the Fifth Amendment to the Second Amended and Restated Credit Agreement.
(4)Reflects the maturity dates as of June 30, 2023.
(5)2024 Term Loan was paid off in full in March 2023 and had a contractual interest rate of SOFR + 1.40%.
(6)The Revolving Credit Facility has a maturity date of September 30, 2023. The Revolving Credit Facility, subject to the satisfaction of certain customary conditions, has a series of extension options through January 31, 2026. See discussion below.
(7)HealthSpring Mortgage Loan was paid off in full in March 2023 and had a contractual interest rate of 4.18%.