Debt and Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2025

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	March 31, 2025			December 31, 2024
Tangible net worth	>= $125,000	$	165,270		$	172,216
Total leverage	< =60%		44.4	%		44.4	%
Secured leverage	< =30%		2.4	%		2.4	%
Unencumbered leverage	< =60%		45.9	%		45.9	%
Fixed charge coverage	>=1.50x	3.2x			3.2x

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 March 31, 2025 (amounts in thousands):

Facility Name	Outstanding Balance (in thousands) (a.)			Interest Rate			Maturity Date
Tuscan Professional Building fixed rate mortgage loan (b.)	$	183			5.56	%	June, 2025
Phoenix Children’s East Valley Care Center fixed rate    mortgage loan		7,573			3.95	%	January, 2030
Rosenberg Children's Medical Plaza fixed rate mortgage loan		11,434			4.42	%	September, 2033
Total, excluding net debt premium and net financing fees		19,190
Less net financing fees		(156	)
Total mortgages notes payable, non-recourse to us, net	$	19,034

(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 three 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.