Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

The following table summarizes the provision for impairment during the periods indicated below (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Total provision for impairment	$	1,538	$	—	$	4,374	$	1,114
Number of properties: (1)
Classified as held for sale	—		—		6		—
Disposed within the period	2		—		2		1

(1) Includes the number of properties that were either (i) impaired during the period on the held for sale classification date and remained as held for sale as of period-end or (ii) impaired and disposed of during the respective period. Excludes properties that did not have impairment recorded during the year. Of the total provision for impairment during the three and nine months ended September 30, 2023, the Company recorded $0.7 million of additional impairment expense on properties that were classified as held for sale in prior periods.

Schedule of Debt

The following table discloses fair value information for the Company’s 2024 Term Loan, 2027 Term Loan, 2028 Term Loan, and 2029 Term Loan (each as defined in “Note 6 - Debt”) (in thousands):


	September 30, 2023				December 31, 2022
	Carrying Value (1)		Estimated Fair Value		Carrying Value (1)		Estimated Fair Value
2024 Term Loan (2)	$	—	$	—	$	174,532	$	175,382
2027 Term Loan	173,919		175,713		—		—
2028 Term Loan	198,945		201,465		198,764		201,108
2029 Term Loan	148,749		150,727		—		—

(1) The carrying value of the debt instruments are net of unamortized debt issuance and discount costs.

(2) On June 15, 2023, the Company amended and restated its 2024 Term Loan, providing for a $175.0 million senior unsecured term loan (the “2027 Term Loan”).