Debt Obligations (Tables)

3 Months Ended

Mar. 31, 2024

Debt Obligations

Schedule of interest rate swaps

Information regarding our interest rate swaps measured at fair value, which are classified as Level 2 of the fair value hierarchy is presented below (dollar amounts in thousands):

						Notional	Fair Value at
Date Entered	Maturity Date	Swap Rate		Rate Index		Amount		March 31, 2024		December 31, 2023
November 2021	November 19, 2025	2.62	%	1-month SOFR	$	50,000	$	2,750	$	2,698
November 2021	November 19, 2026	2.76	%	1-month SOFR		50,000		3,738		3,412
					$	100,000	$	6,488	$	6,110

Schedule of Debt Obligations

The following table sets forth information regarding debt obligations by component as of March 31, 2024 and December 31, 2023 (dollar amounts in thousands):

		At March 31, 2024				At December 31, 2023
	Applicable			Available				Available
	Interest	Outstanding		for		Outstanding		for
Debt Obligations	Rate (1)	Balance		Borrowing		Balance		Borrowing
Revolving line of credit	6.52%	$	277,050	$	122,950	$	302,250	$	97,750
Term loans, net of debt issue costs	2.69%		99,695		—		99,658		—
Senior unsecured notes, net of debt issue costs	4.20%		483,466		—		489,409		—
Total	4.77%	$	860,211	$	122,950	$	891,317	$	97,750

(1) Represents weighted average of interest rate as of March 31, 2024.

Schedule of borrowings and repayments

During the three months ended March 31, 2024 and 2023, our debt borrowings and repayments were as follows (in thousands):

	Three Months Ended March 31,
	2024				2023
Debt Obligations		Borrowings		Repayments	Borrowings		Repayments
Revolving line of credit	$	10,300	$	(35,500)	$	162,700	$	(22,600)
Senior unsecured notes		—		(6,000)		—		(7,000)
Total	$	10,300	$	(41,500)	$	162,700	$	(29,600)