Debt and Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Summary of Required Compliance Ratios Giving Effect to New Covenants in Credit Agreement

The following table includes a summary of the required compliance ratios, giving effect to the covenants contained in the Credit Agreement (dollar amounts in thousands):

	Covenant	June 30, 2024			December 31, 2023
Tangible net worth	> $125,000	$	182,508		$	191,824
Total leverage	< =60%		44.0	%		44.5	%
Secured leverage	< 30%		2.5	%		4.1	%
Unencumbered leverage	< 60%		45.3	%		44.2	%
Fixed charge coverage	>1.50x	3.2x			3.1x

Outstanding Mortgages, Excluding Net Debt Premium

As indicated on the following table, we have various mortgages, all of which are non-recourse to us, included on our condensed consolidated balance sheet as of June 30, 2024 (amounts in thousands):

Facility Name	Outstanding Balance (in thousands) (a.)			Interest Rate			Maturity Date
Tuscan Professional Building fixed rate mortgage loan (b.)	$	717			5.56	%	June, 2025
Phoenix Children’s East Valley Care Center fixed rate    mortgage loan		7,789			3.95	%	January, 2030
Rosenberg Children's Medical Plaza fixed rate mortgage loan		11,638			4.42	%	September, 2033
Total, excluding net debt premium and net financing fees		20,144
Less net financing fees		(174	)
Total mortgages notes payable, non-recourse to us, net	$	19,970

(a.)All mortgage loans require monthly principal payments through maturity and either fully amortize or include a balloon principal payment upon maturity.

(b.)This loan is scheduled to mature within the next twelve months, at which time we will either refinance pursuant to a new mortgage loan or repay the mortgage balance in full utilizing borrowings under our Credit Agreement.