Debt and Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2025

Debt Disclosure [Abstract]

Schedule of Mortgages and Credit Facilities Payable

As of December 31, 2025 and 2024, the Company had the following mortgages and credit facility payable:

	December 31, 2025						December 31, 2024
Type of Debt	Principal Amount			Weighted Average Interest Rate			Principal Amount			Weighted Average Interest Rate
Fixed rate mortgages payable	$	18,727			4.02	%	$	111,679			3.83	%
Variable rate mortgages payable with swap agreements		—			—			26,000			4.55	%
Mortgages payable		18,727			4.02	%		137,679			3.97	%
Credit facility payable		823,000			4.66	%		700,000			4.67	%
Total debt before unamortized debt issuance costs including impact of interest rate swaps		841,727			4.65	%		837,679			4.55	%
(Less): Unamortized debt issuance costs		(4,252	)					(1,933	)
Total debt	$	837,475					$	835,746

Schedule of Principal Payments and Maturities of Company's Debt

As of December 31, 2025, scheduled principal payments and maturities on the Company’s debt were as follows:

	December 31, 2025
Scheduled Principal Payments and Maturities by Year:	Scheduled Principal Payments		Maturity of  Mortgage Loan		Maturity of Credit Facility		Total
2026	$	—	$	18,727	$	—	$	18,727
2027		—		—		—		—
2028		—		—		—		—
2029		—		—		823,000		823,000
2030		—		—		—		—
Thereafter		—		—		—		—
Total	$	—	$	18,727	$	823,000	$	841,727

Summary of Interest Rate Swap Contracts Outstanding

The following table summarizes the Company’s interest rate swap contracts outstanding as of December 31, 2025.

Date Entered	Effective Date	Maturity Date	Receive Floating Rate Index (a)	Pay Fixed Rate			Notional Amount		Fair Value as of December 31, 2025
Assets
December 5, 2022	December 1, 2022	January 1, 2026	One-month Term SOFR		2.25	%	$	26,000	$	1
February 3, 2022	March 1, 2022	February 3, 2027	One-month Term SOFR		1.69	%		90,000		1,623
February 3, 2022	March 1, 2022	February 3, 2027	One-month Term SOFR		1.85	%		100,000		1,629
February 3, 2022	March 1, 2022	February 3, 2027	One-month Term SOFR		1.72	%		85,000		1,512
May 17, 2022	June 1, 2022	February 3, 2027	One-month Term SOFR		2.71	%		60,000		419
May 17, 2022	June 1, 2022	February 3, 2027	One-month Term SOFR		2.71	%		60,000		419
May 17, 2022	June 1, 2022	February 3, 2027	One-month Term SOFR		2.71	%		75,000		526
May 17, 2022	June 1, 2022	February 3, 2027	One-month Term SOFR		2.77	%		55,000		354
November 14, 2025	February 3, 2027	April 1, 2029	One-month Term SOFR		3.26	%		145,000		36
November 14, 2025	February 3, 2027	April 1, 2029	One-month Term SOFR		3.26	%		105,000		27
November 14, 2025	February 3, 2027	April 1, 2029	One-month Term SOFR		3.27	%		105,000		9
							$	906,000	$	6,555
Liabilities
November 14, 2025	February 3, 2027	April 1, 2029	One-month Term SOFR		3.28	%	$	90,000	$	(3	)
November 14, 2025	February 3, 2027	April 1, 2029	One-month Term SOFR		3.34	%		50,000		(63	)
November 14, 2025	February 3, 2027	April 1, 2029	One-month Term SOFR		3.31	%		30,000		(24	)
							$	170,000	$	(90	)

As of December 31, 2025, the one-month term SOFR was 3.69%.

Schedule of Effect of Derivatives on Consolidated Statements of Operations and Comprehensive Income (Loss)

The table below presents the effect of the Company’s derivative financial instruments on the consolidated statements of operations and comprehensive loss for the years ended December 31, 2025, 2024 and 2023.

	Year Ended December 31,
Derivatives in Cash Flow Hedging Relationships:	2025			2024			2023
Effective portion of derivatives	$	(2,274	)	$	12,032		$	6,934
Reclassification adjustment for amounts included in net gain or loss (effective portion)	$	(11,296	)	$	(16,480	)	$	(15,978	)