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Derivative Instruments and Hedging Activities (Tables)
 6 Months Ended
Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments The following table presents the fair value of the Company’s derivatives designated as hedging instruments as of June 30, 2024 and December 31, 2023:
(Thousands)Location on Condensed Consolidated Balance SheetsJune 30, 2024December 31, 2023
Interest rate capsDerivative asset$1,616 $— 
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)
The following table presents the effects of the Company’s derivative financial instrument on the Condensed Consolidated Statements of Income for the periods presented:

(Thousands)Three Months Ended June 30,Six Months Ended June 30,
Derivatives in Cash Flow Hedging Relationships (Interest Rate Caps)2024202320242023
Amount of gain recognized on derivative in Other Comprehensive Income$529 $— $173 $— 
Amount of gain reclassified from Accumulated Other Comprehensive Income into Interest Expense$226 $— $37 $— 
Total Amount of Interest Expense Presented in the Condensed Consolidated Statements of Income$127,475 $119,689 $250,686 $268,552