Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

The following table summarizes the interest rate derivatives we entered into over the applicable periods:

	Year Ended December 31,
Interest rate caps:(1)	2025			2024			2023
Notional amount (in thousands)	$	656,913		$	935,280		$	537,780
Strike rate low end of range	3.64		%	3.50		%	3.50		%
Strike rate high end of range	6.50		%	8.00		%	5.25		%
Effective date range	January 2025 - December 2025			January 2024 - December 2024			January 2023 - December 2023
Termination date range	February 2026 - August 2027			January 2025 - August 2026			January 2024 - January 2026
Total cost of interest rate caps (in thousands)	$	670		$	1,592		$	5,051

_______________

(1)    No instruments were designated as cash flow hedges.

Interest rate derivatives consisted of the following:

Interest rate caps: (1)	December 31, 2025			December 31, 2024
Notional amount (in thousands)	$	1,314,513		$	1,185,880
Strike rate low end of range	3.64		%	3.50		%
Strike rate high end of range	8.00		%	8.00		%
Termination date range	January 2026 - August 2027			January 2025 - August 2026
Aggregate principal balance on corresponding mortgage loans (in thousands)	$	1,021,415		$	1,074,693

_______________

(1)No instruments were designated as cash flow hedges.