Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table presents our assets and liabilities measured at fair value on a recurring basis aggregated by the level within which measurements fall in the fair value hierarchy (in thousands):

	Quoted Market Prices (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
March 31, 2026
Assets
Derivative assets:
Interest rate derivatives - caps	$	—	$	341	$	—	$	341	(1)
Total	$	—	$	341	$	—	$	341

	Quoted Market Prices (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
December 31, 2025
Assets
Derivative assets:
Interest rate derivatives - caps	$	—	$	56	$	—	$	56	(1)
Total	$	—	$	56	$	—	$	56

__________________

(1)Reported as “derivative assets” in our condensed consolidated balance sheets.

Schedule of Effect of Fair Value Measured Assets and Liabilities

The following table summarizes the effect of fair value measured assets and liabilities on our condensed consolidated statements of operations (in thousands):

	Gain (Loss) Recognized in Income
	Three Months Ended March 31,
	2026			2025
Assets
Derivative assets:
Interest rate derivatives - caps	$	248		$	(198)
Total	$	248		$	(198)
Total combined
Interest rate derivatives - caps	$	240		$	(386)
Unrealized gain (loss) on derivatives	$	240	(1)	$	(386)	(1)
Realized gain (loss) on interest rate caps	8		(1) (2)	188		(1) (2)
Net	$	248		$	(198)

________

(1)Reported in “realized and unrealized gain (loss) on derivatives” in our condensed consolidated statements of operations.

(2)Represents settled and unsettled payments from counterparties on interest rate caps.