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Derivatives (Tables)
 12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Interest Rate Derivatives
As of December 31, 2025 and 2024, the Company had the following derivatives (in thousands):

Fair Value of Assets (Liabilities)
Hedged DebtTypeFixed RateIndexEffective DateMaturity DateNotional AmountDecember 31, 2025December 31, 2024
Unsecured term loansSwap3.36 %SOFRMarch 1, 2023January 1, 2028$75,000 $(138)$1,328 
Unsecured term loansSwap3.50 %SOFRMarch 1, 2023January 1, 2027$75,000 (82)747 
Unsecured term loansSwap3.27 %SOFROctober 1, 2024January 1, 2028$37,500 (4)757 
Unsecured term loansSwap3.27 %SOFROctober 1, 2024January 1, 2028$37,500 (4)758 
Unsecured term loansSwap3.07 %SOFRJanuary 2, 2025January 1, 2027$25,000 80 456 
Unsecured term loansSwap3.25 %SOFRJanuary 2, 2025January 1, 2026$75,000 1 628 
Unsecured term loansSwap3.29 %SOFRJanuary 2, 2026January 1, 2029$75,000 (11)— 
Unsecured term loansSwap3.07 %SOFRJanuary 4, 2027January 1, 2029$50,000 155 — 
$450,000 $(3)$4,674 
Schedule of Gains and Losses Recognized on Derivative Financial Statements
The table below details the location in the consolidated financial statements of the gains and losses recognized on derivative financial statements (in thousands):
Year Ended December 31,
Effect of derivative instrumentsLocation in Statements of Operations and Comprehensive Income202520242023
Gain (loss) recognized in other comprehensive incomeUnrealized gain (loss) on interest rate derivative instruments$(4,677)$353 $(2,634)
Interest income for derivatives that were designated as cash flow hedgesInterest expense$3,066 $6,629 $7,688 
Interest income (expense) for derivatives that were not designated as cash flow hedgesInterest expense$— $— $(469)