Derivatives (Tables)

3 Months Ended

Mar. 31, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Outstanding Derivatives

The following table details the Company’s outstanding interest rate swaps that were non-designated hedges of interest rate risk (notional amount in thousands):

	March 31, 2026
Interest rate swap	Number of Instruments		Notional Amount		Weighted-Average Strike Rate	Index	Weighted-Average Maturity (Years)		Weighted-Average Commencement Date	Weighted-Average Maturity Date
Interest rate swaps – mortgage notes		4	$	120,100	3.59%	SOFR		2.6	August 17, 2025	October 19, 2028

	December 31, 2025
Interest rate swap	Number of Instruments		Notional Amount		Weighted-Average Strike Rate	Index	Weighted-Average Maturity (Years)		Weighted-Average Commencement Date	Weighted-Average Maturity Date
Interest rate swaps – mortgage notes		4	$	120,100	3.59%	SOFR		2.8	August 17, 2025	October 19, 2028

Schedule of Fair Value of Derivative Financial Instruments

The following table details the fair value of the Company's derivative financial instruments ($ in thousands):

	Fair Value of Derivatives(1)
	March 31, 2026			December 31, 2025
Interest rate swaps	$	(366	)	$	(354	)

(1) The derivative liability balances as of March 31, 2026 and December 31, 2025 are included in accounts payable, accrued expenses and other liabilities.