Notes Payable, Bank Credit Facility, Interest and Amortization of Deferred Debt Costs (Tables)

9 Months Ended

Sep. 30, 2023

Debt Disclosure [Abstract]

Scheduled Maturities of Debt, Including Scheduled Principal Amortization

At September 30, 2023, the future principal payments of debt, including scheduled maturities and amortization, for years ending December 31, were as follows:

(In thousands)	Principal Payments
October 1 through December 31, 2023	$	8,424
2024	83,981
2025	303,085		(a)
2026	162,468
2027	123,792		(b)
2028	41,863
Thereafter	636,763
Principal amount	1,360,376
Unamortized deferred debt costs	17,064
Net	$	1,343,312

(a) Includes $251.0 million outstanding under the Credit Facility.

(b) Includes $100.0 million outstanding under the Credit Facility.

Interest Expense and Amortization of Deferred Debt Costs

Interest expense, net and amortization of deferred debt costs for the three and nine months ended September 30, 2023 and 2022, were as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
(In thousands)	2023		2022		2023		2022
Interest incurred	$	17,072	$	13,627	$	48,852	$	38,408
Amortization of deferred debt costs	564		486		1,687		1,428
Capitalized interest	(5,154)		(3,002)		(13,768)		(7,663)
Interest expense	12,482		11,111		36,771		32,173
Less: Interest income	63		8		253		11
Interest expense, net and amortization of deferred debt costs	$	12,419	$	11,103	$	36,518	$	32,162