DERIVATIVE INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amount and Other Information Related to the Interest Rate Swaps and Interest Rate Cap

The following table summarizes the notional amount and other information related to the Company’s interest rate swaps as of March 31, 2026 and December 31, 2025. The notional amount is an indication of the extent of the Company’s involvement in each instrument at that time, but does not represent exposure to credit, interest rate or market risks (dollars in thousands):

	March 31, 2026			December 31, 2025				Weighted-Average Fix Pay Rate	Weighted-Average Remaining Term in Years
Derivative Instruments	Number of Instruments	Notional Amount		Number of Instruments	Notional Amount		Reference Rate as of March 31, 2026
Derivative instruments not designated as hedging instruments
Interest rate swaps (1)	8	$	800,000	12	$	1,000,000	One-month Term SOFR/ Fixed at 2.38% - 3.92%	3.4%	0.5

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(1) During the three months ended March 31, 2026, four of the Company’s interest rate swaps expired.

Schedule of Derivative Instruments as well as their Classification on the Consolidated Balance Sheets

The following table sets forth the fair value of the Company’s derivative instruments as well as their classification on the consolidated balance sheets as of March 31, 2026 and December 31, 2025 (dollars in thousands):

		March 31, 2026			December 31, 2025
Derivative Instruments	Balance Sheet Location	Number of Instruments	Fair Value		Number of Instruments	Fair Value
Derivative instruments not designated as hedging instruments
Interest rate swaps	Prepaid expenses and other assets, at fair value	5	$	469	7	$	764
Interest rate swaps	Other liabilities, at fair value	3	$	(70)	5	$	(407)

Schedule of Derivative Instruments in Consolidated Statements of Operations

The following table summarizes the effects of derivative instruments on the Company’s consolidated statements of operations (in thousands):

	For the Three Months Ended March 31,
	2026		2025
Derivatives not designated as hedging instruments
Realized loss recognized on interest rate swaps	$	63	$	—
Realized gain recognized on interest rate swaps	(758)		(2,688)
Unrealized (gain) loss on interest rate swaps	(42)		4,523
Net (gain) loss on derivative instruments	$	(737)	$	1,835