Debt (Tables)

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Schedule of Debt

The following table presents a summary of our NLOP Financing Arrangements (dollars in thousands):

NLOP Financing Arrangements	Original Principal Balance		Interest Rate at March 31, 2024	Maturity Date at March 31, 2024	Principal Outstanding Balance at
					March 31, 2024		December 31, 2023
NLOP Mortgage Loan (a) (b) (c)	$	335,000	10.4%	11/9/2025	$	277,609	$	288,895
NLOP Mezzanine Loan (d)	120,000		14.5%	11/9/2028	114,336		114,336
					$	391,945	$	403,231

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(a)Interest rate is based on SOFR plus 5.0%. The interest rate is subject to an interest rate cap that limits our SOFR rate exposure at 5.35%.

(b)The NLOP Mortgage Loan is subject to two separate one-year extension options.

(c)Balance excludes unamortized discount of $12.4 million and $15.3 million at March 31, 2024 and December 31, 2023, respectively, and unamortized deferred financing costs of $5.4 million and $6.7 million at March 31, 2024 and December 31, 2023, respectively.

(d)Balance excludes unamortized discount of $4.4 million and $5.6 million at March 31, 2024 and December 31, 2023, respectively, and unamortized deferred financing costs of $1.9 million and $2.4 million at March 31, 2024 and December 31, 2023, respectively.

Scheduled Mortgage Debt Principal Payments

Scheduled mortgage debt principal payments as of March 31, 2024 are as follows (in thousands):

Years Ending December 31,	Total
2024 (remainder)	$	33,905
2025	383,919
2026	7,540
2027	—
2028	114,336
Total principal payments	539,700
Unamortized discount, net	(17,193)
Unamortized deferred financing costs	(7,334)
Total	$	515,173