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DERIVATIVES (Tables)
 3 Months Ended
Mar. 31, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Outstanding Interest Rate Derivatives
The following table details the Company's outstanding interest rate derivatives ($ in thousands):
March 31, 2026
Interest Rate Derivatives(1)
Counterparty
Company Receives(2)
Company PaysMaturity DateNotional AmountFair Value
Unrealized Gain (Loss)(3)
Interest rate swapRoyal Bank of CanadaSOFR3.4 %4/1/2031$20,500 $136 $136 
Interest rate swapRoyal Bank of CanadaSOFR3.3 %9/8/202720,000 75 75 
Interest rate swapRoyal Bank of CanadaSOFR3.3 %10/27/20302,500 29 29 
Interest rate swapRoyal Bank of CanadaSOFR3.4 %12/10/20306,500 28 28 
Interest rate swapRoyal Bank of CanadaSOFR3.4 %5/17/20304,000 24 24 
Interest rate swapRoyal Bank of CanadaSOFR3.4 %1/8/20314,200 20 20 
Interest rate swapRoyal Bank of CanadaSOFR3.3 %5/20/20293,500 20 20 
Interest rate swapRoyal Bank of CanadaSOFR3.5 %2/2/20313,300 5 5 
Interest rate swapRoyal Bank of CanadaSOFR3.7 %8/19/20347,500 (3)(3)
Interest rate swapRoyal Bank of CanadaSOFR3.8 %7/14/20348,500 (21)(21)
Interest rate swapRoyal Bank of CanadaSOFR3.6 %6/17/20297,000 (23)(23)
Interest rate swapRoyal Bank of CanadaSOFR3.6 %6/6/20299,000 (23)(23)
Interest rate swapRoyal Bank of CanadaSOFR3.6 %6/4/202912,000 (28)(28)
Interest rate swapRoyal Bank of CanadaSOFR3.6 %6/9/202914,000 (36)(36)
Interest rate swapRoyal Bank of CanadaSOFR3.7 %7/15/203276,580 (312)(312)
Total interest rate swaps$199,080 $(109)$(109)
(1)For interest rate swap agreements, the Company generally does not receive any upfront payments or receipts.
(2)For interest rate swap agreements, the Company generally receives one-month term SOFR.
(3)The unrealized gain (loss) represents the life-to-date change in fair value for each interest rate swap.
December 31, 2025
Interest Rate Derivatives(1)
Counterparty
Company Receives(2)
Company PaysMaturity DateNotional AmountFair Value
Unrealized Gain (Loss)(3)
Interest rate swapRoyal Bank of CanadaSOFR3.3 %10/27/2030$2,500 $14 $14 
Interest rate swapRoyal Bank of CanadaSOFR3.4 %4/1/203120,500 6 6 
Interest rate swapRoyal Bank of CanadaSOFR3.4 %11/10/20304,500 6 6 
Interest rate swapRoyal Bank of CanadaSOFR3.4 %5/17/20304,000 (1)(1)
Interest rate swapRoyal Bank of CanadaSOFR3.3 %5/20/20293,500 (2)(2)
Interest rate swapRoyal Bank of CanadaSOFR3.4 %12/10/20306,500 (13)(13)
Interest rate swapRoyal Bank of CanadaSOFR3.3 %9/8/202720,000 (22)(22)
Interest rate swapRoyal Bank of CanadaSOFR3.7 %8/19/20347,500 (46)(46)
Interest rate swapRoyal Bank of CanadaSOFR3.8 %7/14/20348,500 (71)(71)
Interest rate swapRoyal Bank of CanadaSOFR3.6 %6/17/20297,000 (72)(72)
Interest rate swapRoyal Bank of CanadaSOFR3.6 %6/6/20299,000 (86)(86)
Interest rate swapRoyal Bank of CanadaSOFR3.6 %6/4/202912,000 (111)(111)
Interest rate swapRoyal Bank of CanadaSOFR3.6 %6/9/202914,000 (133)(133)
Interest rate swapRoyal Bank of CanadaSOFR3.7 %7/15/203277,707 (755)(755)
Total interest rate swaps$197,207 $(1,286)$(1,286)
(1)For interest rate swap agreements, the Company generally does not receive any upfront payments or receipts.
(2)For interest rate swap agreements, the Company generally receives one-month term SOFR.
(3)The unrealized gain (loss) represents the life-to-date change in fair value for each interest rate swap.
Schedule of Derivative Instruments
The following table details the Company's outstanding foreign currency forward contracts (amounts in thousands):
March 31, 2026
Foreign Currency DerivativesCounterpartyCurrency PurchasedCurrency SoldSettlement DateFair Value
Unrealized Gain (Loss)(1)
Foreign currency forward contractRoyal Bank of CanadaUSD75,130 GBP56,000 6/15/2026$1,066 $1,066 
Foreign currency forward contractRoyal Bank of CanadaUSD2,843 GBP2,079 4/28/2026101 101 
Foreign currency forward contractRoyal Bank of CanadaUSD1,081 EUR900 4/30/202643 43 
Foreign currency forward contractRoyal Bank of CanadaUSD2,208 GBP1,652 6/10/202630 30 
Foreign currency forward contractRoyal Bank of CanadaUSD318 GBP236 8/3/20267 7 
Total foreign currency forward contracts$1,247 $1,247 
(1)The unrealized gain (loss) represents the life-to-date change in fair value for each foreign currency forward.
December 31, 2025
Foreign Currency DerivativesCounterpartyCurrency PurchasedCurrency SoldSettlement DateFair Value
Unrealized Gain (Loss)(1)
Foreign currency forward contractRoyal Bank of CanadaUSD1,050 EUR900 1/30/2026$(8)$(8)
Foreign currency forward contractRoyal Bank of CanadaUSD2,390 GBP1,795 3/10/2026(24)(24)
Foreign currency forward contractRoyal Bank of CanadaUSD2,773 GBP2,085 1/28/2026(32)(32)
Total foreign currency forward contracts$(64)$(64)
(1)The unrealized gain (loss) represents the life-to-date change in fair value for each foreign currency forward.
Financial Statement Impact
The following table details the Company's outstanding derivatives ($ in thousands):
March 31, 2026
Fair Value of Derivatives in an Asset PositionFair Value of Derivatives in a Liability Position
Foreign currency forward contract$1,247 $— 
Interest rate swap338 (447)
Total$1,585 $(447)
December 31, 2025
Fair Value of Derivatives in an Asset PositionFair Value of Derivatives in a Liability Position
Foreign currency forward contract$— $(64)
Interest rate swap26 (1,312)
Total$26 $(1,376)
Schedule of Derivative Financial Instruments
The following table presents the effect of the Company's derivative financial instruments on its consolidated statements of operations ($ in thousands):
For the Three Months Ended March 31, 2026
Interest Rate SwapsForeign Currency Forward ContractTotal
Unrealized gain (loss)$1,178 $1,311 $2,489 
Realized gain35 (116)(81)
Total$1,213 $1,195 $2,408