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—Stock issuance costs are offset against stock issuance proceeds and capitalized as a component of APIC on the consolidated balance sheets. We had stock issuance costs of approximately $ 0.9 million, $ 1.9 million, and $ 1.1 million for the years ended December 31, 2024, 2023, and 2022, respectively. | text | 0.9 | monetaryItemType | text: <entity> 0.9 </entity> <entity type> monetaryItemType </entity type> <context> —Stock issuance costs are offset against stock issuance proceeds and capitalized as a component of APIC on the consolidated balance sheets. We had stock issuance costs of approximately $ 0.9 million, $ 1.9 million, and $ 1.1 million for the years ended December 31, 2024, 2023, and 2022, respectively. </context> | us-gaap:AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts |
—Stock issuance costs are offset against stock issuance proceeds and capitalized as a component of APIC on the consolidated balance sheets. We had stock issuance costs of approximately $ 0.9 million, $ 1.9 million, and $ 1.1 million for the years ended December 31, 2024, 2023, and 2022, respectively. | text | 1.9 | monetaryItemType | text: <entity> 1.9 </entity> <entity type> monetaryItemType </entity type> <context> —Stock issuance costs are offset against stock issuance proceeds and capitalized as a component of APIC on the consolidated balance sheets. We had stock issuance costs of approximately $ 0.9 million, $ 1.9 million, and $ 1.1 million for the years ended December 31, 2024, 2023, and 2022, respectively. </context> | us-gaap:AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts |
—Stock issuance costs are offset against stock issuance proceeds and capitalized as a component of APIC on the consolidated balance sheets. We had stock issuance costs of approximately $ 0.9 million, $ 1.9 million, and $ 1.1 million for the years ended December 31, 2024, 2023, and 2022, respectively. | text | 1.1 | monetaryItemType | text: <entity> 1.1 </entity> <entity type> monetaryItemType </entity type> <context> —Stock issuance costs are offset against stock issuance proceeds and capitalized as a component of APIC on the consolidated balance sheets. We had stock issuance costs of approximately $ 0.9 million, $ 1.9 million, and $ 1.1 million for the years ended December 31, 2024, 2023, and 2022, respectively. </context> | us-gaap:AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts |
—Deferred financing expenses are capitalized and amortized on a straight-line basis over the term of the related financing arrangement, which approximates the effective interest method. Deferred financing expenses related to our term loan facilities and mortgages are in Debt Obligations, Net, while deferred financing expenses related to our revolving credit facility are in Other Assets, Net, on our consolidated balance sheets. The accumulated amortization of deferred financing expenses in Debt Obligations, Net was $ 13.8 million and $ 15.9 million as of December 31, 2024 and 2023, respectively. | text | 13.8 | monetaryItemType | text: <entity> 13.8 </entity> <entity type> monetaryItemType </entity type> <context> —Deferred financing expenses are capitalized and amortized on a straight-line basis over the term of the related financing arrangement, which approximates the effective interest method. Deferred financing expenses related to our term loan facilities and mortgages are in Debt Obligations, Net, while deferred financing expenses related to our revolving credit facility are in Other Assets, Net, on our consolidated balance sheets. The accumulated amortization of deferred financing expenses in Debt Obligations, Net was $ 13.8 million and $ 15.9 million as of December 31, 2024 and 2023, respectively. </context> | us-gaap:AccumulatedAmortizationDeferredFinanceCosts |
—Deferred financing expenses are capitalized and amortized on a straight-line basis over the term of the related financing arrangement, which approximates the effective interest method. Deferred financing expenses related to our term loan facilities and mortgages are in Debt Obligations, Net, while deferred financing expenses related to our revolving credit facility are in Other Assets, Net, on our consolidated balance sheets. The accumulated amortization of deferred financing expenses in Debt Obligations, Net was $ 13.8 million and $ 15.9 million as of December 31, 2024 and 2023, respectively. | text | 15.9 | monetaryItemType | text: <entity> 15.9 </entity> <entity type> monetaryItemType </entity type> <context> —Deferred financing expenses are capitalized and amortized on a straight-line basis over the term of the related financing arrangement, which approximates the effective interest method. Deferred financing expenses related to our term loan facilities and mortgages are in Debt Obligations, Net, while deferred financing expenses related to our revolving credit facility are in Other Assets, Net, on our consolidated balance sheets. The accumulated amortization of deferred financing expenses in Debt Obligations, Net was $ 13.8 million and $ 15.9 million as of December 31, 2024 and 2023, respectively. </context> | us-gaap:AccumulatedAmortizationDeferredFinanceCosts |
Lease receivables are reviewed continually to determine whether or not it is probable that we will realize substantially all remaining lease payments for each of our tenants (i.e., whether a tenant is deemed to be a credit risk). Additionally, we record a general reserve based on our review of operating lease receivables at a company level to ensure they are properly valued based on analysis of historical bad debt, outstanding balances, and the current economic climate. If we determine it is not probable that we will collect substantially all of the remaining lease payments from a tenant, revenue for that tenant is recorded on a cash basis (“cash-basis tenant”), including any amounts relating to straight-line rent receivables and/or receivables for recoverable expenses. We will resume recording lease income on an accrual basis for cash-basis tenants once we believe the collection of rent for the remaining lease term is probable, which will generally be after a period of regular payments. Under ASC 842, the aforementioned adjustments as well as any reserve for disputed charges are recorded as a reduction of Rental Income on the consolidated statements of operations. As of December 31, 2024 and 2023, the reserve in accounts receivable for uncollectible amounts was $ 2.2 million and $ 1.9 million, respectively. Receivables on our consolidated balance sheets exclude amounts removed related to tenants considered to be non-creditworthy, which were $ 11.2 million and $ 10.7 million as of December 31, 2024 and 2023, respectively. | text | 2.2 | monetaryItemType | text: <entity> 2.2 </entity> <entity type> monetaryItemType </entity type> <context> Lease receivables are reviewed continually to determine whether or not it is probable that we will realize substantially all remaining lease payments for each of our tenants (i.e., whether a tenant is deemed to be a credit risk). Additionally, we record a general reserve based on our review of operating lease receivables at a company level to ensure they are properly valued based on analysis of historical bad debt, outstanding balances, and the current economic climate. If we determine it is not probable that we will collect substantially all of the remaining lease payments from a tenant, revenue for that tenant is recorded on a cash basis (“cash-basis tenant”), including any amounts relating to straight-line rent receivables and/or receivables for recoverable expenses. We will resume recording lease income on an accrual basis for cash-basis tenants once we believe the collection of rent for the remaining lease term is probable, which will generally be after a period of regular payments. Under ASC 842, the aforementioned adjustments as well as any reserve for disputed charges are recorded as a reduction of Rental Income on the consolidated statements of operations. As of December 31, 2024 and 2023, the reserve in accounts receivable for uncollectible amounts was $ 2.2 million and $ 1.9 million, respectively. Receivables on our consolidated balance sheets exclude amounts removed related to tenants considered to be non-creditworthy, which were $ 11.2 million and $ 10.7 million as of December 31, 2024 and 2023, respectively. </context> | us-gaap:AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables |
Lease receivables are reviewed continually to determine whether or not it is probable that we will realize substantially all remaining lease payments for each of our tenants (i.e., whether a tenant is deemed to be a credit risk). Additionally, we record a general reserve based on our review of operating lease receivables at a company level to ensure they are properly valued based on analysis of historical bad debt, outstanding balances, and the current economic climate. If we determine it is not probable that we will collect substantially all of the remaining lease payments from a tenant, revenue for that tenant is recorded on a cash basis (“cash-basis tenant”), including any amounts relating to straight-line rent receivables and/or receivables for recoverable expenses. We will resume recording lease income on an accrual basis for cash-basis tenants once we believe the collection of rent for the remaining lease term is probable, which will generally be after a period of regular payments. Under ASC 842, the aforementioned adjustments as well as any reserve for disputed charges are recorded as a reduction of Rental Income on the consolidated statements of operations. As of December 31, 2024 and 2023, the reserve in accounts receivable for uncollectible amounts was $ 2.2 million and $ 1.9 million, respectively. Receivables on our consolidated balance sheets exclude amounts removed related to tenants considered to be non-creditworthy, which were $ 11.2 million and $ 10.7 million as of December 31, 2024 and 2023, respectively. | text | 1.9 | monetaryItemType | text: <entity> 1.9 </entity> <entity type> monetaryItemType </entity type> <context> Lease receivables are reviewed continually to determine whether or not it is probable that we will realize substantially all remaining lease payments for each of our tenants (i.e., whether a tenant is deemed to be a credit risk). Additionally, we record a general reserve based on our review of operating lease receivables at a company level to ensure they are properly valued based on analysis of historical bad debt, outstanding balances, and the current economic climate. If we determine it is not probable that we will collect substantially all of the remaining lease payments from a tenant, revenue for that tenant is recorded on a cash basis (“cash-basis tenant”), including any amounts relating to straight-line rent receivables and/or receivables for recoverable expenses. We will resume recording lease income on an accrual basis for cash-basis tenants once we believe the collection of rent for the remaining lease term is probable, which will generally be after a period of regular payments. Under ASC 842, the aforementioned adjustments as well as any reserve for disputed charges are recorded as a reduction of Rental Income on the consolidated statements of operations. As of December 31, 2024 and 2023, the reserve in accounts receivable for uncollectible amounts was $ 2.2 million and $ 1.9 million, respectively. Receivables on our consolidated balance sheets exclude amounts removed related to tenants considered to be non-creditworthy, which were $ 11.2 million and $ 10.7 million as of December 31, 2024 and 2023, respectively. </context> | us-gaap:AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables |
No single tenant comprised 10% or more of our aggregate annualized base rent (“ABR”) as of December 31, 2024. As of December 31, 2024, our wholly-owned real estate investments in Florida, California, and Texas represented 12.0 %, 10.7 %, and 10.2 % of our ABR, respectively. As a result, the geographic concentration of our portfolio makes it particularly susceptible to adverse natural or economic events in the Florida (see “Hurricanes Helene and Milton” and “Hurricane Ian” in Note 4), California, and Texas real estate markets. | text | 12.0 | percentItemType | text: <entity> 12.0 </entity> <entity type> percentItemType </entity type> <context> No single tenant comprised 10% or more of our aggregate annualized base rent (“ABR”) as of December 31, 2024. As of December 31, 2024, our wholly-owned real estate investments in Florida, California, and Texas represented 12.0 %, 10.7 %, and 10.2 % of our ABR, respectively. As a result, the geographic concentration of our portfolio makes it particularly susceptible to adverse natural or economic events in the Florida (see “Hurricanes Helene and Milton” and “Hurricane Ian” in Note 4), California, and Texas real estate markets. </context> | us-gaap:ConcentrationRiskPercentage1 |
No single tenant comprised 10% or more of our aggregate annualized base rent (“ABR”) as of December 31, 2024. As of December 31, 2024, our wholly-owned real estate investments in Florida, California, and Texas represented 12.0 %, 10.7 %, and 10.2 % of our ABR, respectively. As a result, the geographic concentration of our portfolio makes it particularly susceptible to adverse natural or economic events in the Florida (see “Hurricanes Helene and Milton” and “Hurricane Ian” in Note 4), California, and Texas real estate markets. | text | 10.7 | percentItemType | text: <entity> 10.7 </entity> <entity type> percentItemType </entity type> <context> No single tenant comprised 10% or more of our aggregate annualized base rent (“ABR”) as of December 31, 2024. As of December 31, 2024, our wholly-owned real estate investments in Florida, California, and Texas represented 12.0 %, 10.7 %, and 10.2 % of our ABR, respectively. As a result, the geographic concentration of our portfolio makes it particularly susceptible to adverse natural or economic events in the Florida (see “Hurricanes Helene and Milton” and “Hurricane Ian” in Note 4), California, and Texas real estate markets. </context> | us-gaap:ConcentrationRiskPercentage1 |
No single tenant comprised 10% or more of our aggregate annualized base rent (“ABR”) as of December 31, 2024. As of December 31, 2024, our wholly-owned real estate investments in Florida, California, and Texas represented 12.0 %, 10.7 %, and 10.2 % of our ABR, respectively. As a result, the geographic concentration of our portfolio makes it particularly susceptible to adverse natural or economic events in the Florida (see “Hurricanes Helene and Milton” and “Hurricane Ian” in Note 4), California, and Texas real estate markets. | text | 10.2 | percentItemType | text: <entity> 10.2 </entity> <entity type> percentItemType </entity type> <context> No single tenant comprised 10% or more of our aggregate annualized base rent (“ABR”) as of December 31, 2024. As of December 31, 2024, our wholly-owned real estate investments in Florida, California, and Texas represented 12.0 %, 10.7 %, and 10.2 % of our ABR, respectively. As a result, the geographic concentration of our portfolio makes it particularly susceptible to adverse natural or economic events in the Florida (see “Hurricanes Helene and Milton” and “Hurricane Ian” in Note 4), California, and Texas real estate markets. </context> | us-gaap:ConcentrationRiskPercentage1 |
As of December 31, 2024, the weighted-average remaining lease term was approximately 2.3 years for finance leases and 20.1 years for operating leases. The weighted-average discount rate was 5.4 % for finance leases and 4.7 % for operating leases. | text | 5.4 | percentItemType | text: <entity> 5.4 </entity> <entity type> percentItemType </entity type> <context> As of December 31, 2024, the weighted-average remaining lease term was approximately 2.3 years for finance leases and 20.1 years for operating leases. The weighted-average discount rate was 5.4 % for finance leases and 4.7 % for operating leases. </context> | us-gaap:FinanceLeaseWeightedAverageDiscountRatePercent |
As of December 31, 2024, the weighted-average remaining lease term was approximately 2.3 years for finance leases and 20.1 years for operating leases. The weighted-average discount rate was 5.4 % for finance leases and 4.7 % for operating leases. | text | 4.7 | percentItemType | text: <entity> 4.7 </entity> <entity type> percentItemType </entity type> <context> As of December 31, 2024, the weighted-average remaining lease term was approximately 2.3 years for finance leases and 20.1 years for operating leases. The weighted-average discount rate was 5.4 % for finance leases and 4.7 % for operating leases. </context> | us-gaap:OperatingLeaseWeightedAverageDiscountRatePercent |
- In late September and early October 2024, Hurricanes Helene and Milton struck the southeast United States and caused various amounts of damage to our properties located in the region. During 2024, we recorded gross cumulative accelerated depreciation of $ 1.4 million. | text | 1.4 | monetaryItemType | text: <entity> 1.4 </entity> <entity type> monetaryItemType </entity type> <context> - In late September and early October 2024, Hurricanes Helene and Milton struck the southeast United States and caused various amounts of damage to our properties located in the region. During 2024, we recorded gross cumulative accelerated depreciation of $ 1.4 million. </context> | us-gaap:Depreciation |
—In November 2018, a joint venture named GRP I was formed between subsidiaries of our company and The Northwestern Mutual Life Insurance Company (“Northwestern Mutual”), with our company holding a 15 % ownership interest. The joint venture is set to expire ten years after the date of the agreement, unless otherwise extended by the members. In 2019, we assumed a 10 % equity interest in | text | 15 | percentItemType | text: <entity> 15 </entity> <entity type> percentItemType </entity type> <context> —In November 2018, a joint venture named GRP I was formed between subsidiaries of our company and The Northwestern Mutual Life Insurance Company (“Northwestern Mutual”), with our company holding a 15 % ownership interest. The joint venture is set to expire ten years after the date of the agreement, unless otherwise extended by the members. In 2019, we assumed a 10 % equity interest in </context> | us-gaap:EquityMethodInvestmentOwnershipPercentage |
—In November 2018, a joint venture named GRP I was formed between subsidiaries of our company and The Northwestern Mutual Life Insurance Company (“Northwestern Mutual”), with our company holding a 15 % ownership interest. The joint venture is set to expire ten years after the date of the agreement, unless otherwise extended by the members. In 2019, we assumed a 10 % equity interest in | text | 10 | percentItemType | text: <entity> 10 </entity> <entity type> percentItemType </entity type> <context> —In November 2018, a joint venture named GRP I was formed between subsidiaries of our company and The Northwestern Mutual Life Insurance Company (“Northwestern Mutual”), with our company holding a 15 % ownership interest. The joint venture is set to expire ten years after the date of the agreement, unless otherwise extended by the members. In 2019, we assumed a 10 % equity interest in </context> | us-gaap:EquityMethodInvestmentOwnershipPercentage |
through a merger. In October 2020, GRP I acquired GRP II, resulting in our ownership interest in GRP I being adjusted to approximately 14 %. | text | 14 | percentItemType | text: <entity> 14 </entity> <entity type> percentItemType </entity type> <context> through a merger. In October 2020, GRP I acquired GRP II, resulting in our ownership interest in GRP I being adjusted to approximately 14 %. </context> | us-gaap:EquityMethodInvestmentOwnershipPercentage |
—As of December 31, 2024, we owned a 20 % equity interest in Necessity Retail Partners (“NRP”). NRP was initially formed in March 2016 pursuant to the terms of a joint venture agreement, as amended, between Phillips Edison Grocery Center REIT II, Inc. and an affiliate of TPG Real Estate and is set to expire in 2025 unless otherwise extended by the members. In May 2022, we sold the final property in the joint venture. With the monetization of the joint venture, we exceeded the targeted return and as such were paid compensation of $ 0.1 million and $ 2.7 million for the years ended December 31, 2023 and 2022, respectively, which is recorded in Fees and Management Income on our consolidated statements of operations. | text | 20 | percentItemType | text: <entity> 20 </entity> <entity type> percentItemType </entity type> <context> —As of December 31, 2024, we owned a 20 % equity interest in Necessity Retail Partners (“NRP”). NRP was initially formed in March 2016 pursuant to the terms of a joint venture agreement, as amended, between Phillips Edison Grocery Center REIT II, Inc. and an affiliate of TPG Real Estate and is set to expire in 2025 unless otherwise extended by the members. In May 2022, we sold the final property in the joint venture. With the monetization of the joint venture, we exceeded the targeted return and as such were paid compensation of $ 0.1 million and $ 2.7 million for the years ended December 31, 2023 and 2022, respectively, which is recorded in Fees and Management Income on our consolidated statements of operations. </context> | us-gaap:EquityMethodInvestmentOwnershipPercentage |
—As of December 31, 2024, we owned a 20 % equity interest in Necessity Retail Partners (“NRP”). NRP was initially formed in March 2016 pursuant to the terms of a joint venture agreement, as amended, between Phillips Edison Grocery Center REIT II, Inc. and an affiliate of TPG Real Estate and is set to expire in 2025 unless otherwise extended by the members. In May 2022, we sold the final property in the joint venture. With the monetization of the joint venture, we exceeded the targeted return and as such were paid compensation of $ 0.1 million and $ 2.7 million for the years ended December 31, 2023 and 2022, respectively, which is recorded in Fees and Management Income on our consolidated statements of operations. | text | 0.1 | monetaryItemType | text: <entity> 0.1 </entity> <entity type> monetaryItemType </entity type> <context> —As of December 31, 2024, we owned a 20 % equity interest in Necessity Retail Partners (“NRP”). NRP was initially formed in March 2016 pursuant to the terms of a joint venture agreement, as amended, between Phillips Edison Grocery Center REIT II, Inc. and an affiliate of TPG Real Estate and is set to expire in 2025 unless otherwise extended by the members. In May 2022, we sold the final property in the joint venture. With the monetization of the joint venture, we exceeded the targeted return and as such were paid compensation of $ 0.1 million and $ 2.7 million for the years ended December 31, 2023 and 2022, respectively, which is recorded in Fees and Management Income on our consolidated statements of operations. </context> | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
—As of December 31, 2024, we owned a 20 % equity interest in Necessity Retail Partners (“NRP”). NRP was initially formed in March 2016 pursuant to the terms of a joint venture agreement, as amended, between Phillips Edison Grocery Center REIT II, Inc. and an affiliate of TPG Real Estate and is set to expire in 2025 unless otherwise extended by the members. In May 2022, we sold the final property in the joint venture. With the monetization of the joint venture, we exceeded the targeted return and as such were paid compensation of $ 0.1 million and $ 2.7 million for the years ended December 31, 2023 and 2022, respectively, which is recorded in Fees and Management Income on our consolidated statements of operations. | text | 2.7 | monetaryItemType | text: <entity> 2.7 </entity> <entity type> monetaryItemType </entity type> <context> —As of December 31, 2024, we owned a 20 % equity interest in Necessity Retail Partners (“NRP”). NRP was initially formed in March 2016 pursuant to the terms of a joint venture agreement, as amended, between Phillips Edison Grocery Center REIT II, Inc. and an affiliate of TPG Real Estate and is set to expire in 2025 unless otherwise extended by the members. In May 2022, we sold the final property in the joint venture. With the monetization of the joint venture, we exceeded the targeted return and as such were paid compensation of $ 0.1 million and $ 2.7 million for the years ended December 31, 2023 and 2022, respectively, which is recorded in Fees and Management Income on our consolidated statements of operations. </context> | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
—In July 2024, through a subsidiary, we entered into a joint venture agreement with an affiliate of Cohen & Steers Income Opportunities REIT, Inc. (“Cohen & Steers”) targeting $ 300 million in total equity. We contributed $ 3.2 million for the purchase of one property at formation of the new joint venture, NRV, in exchange for a 20 % ownership interest in NRV. Cohen & Steers acquired an 80 % ownership interest in NRV by contributing $ 12.9 million for the purchase of the one property. | text | 3.2 | monetaryItemType | text: <entity> 3.2 </entity> <entity type> monetaryItemType </entity type> <context> —In July 2024, through a subsidiary, we entered into a joint venture agreement with an affiliate of Cohen & Steers Income Opportunities REIT, Inc. (“Cohen & Steers”) targeting $ 300 million in total equity. We contributed $ 3.2 million for the purchase of one property at formation of the new joint venture, NRV, in exchange for a 20 % ownership interest in NRV. Cohen & Steers acquired an 80 % ownership interest in NRV by contributing $ 12.9 million for the purchase of the one property. </context> | us-gaap:PaymentsToAcquireInterestInJointVenture |
—In July 2024, through a subsidiary, we entered into a joint venture agreement with an affiliate of Cohen & Steers Income Opportunities REIT, Inc. (“Cohen & Steers”) targeting $ 300 million in total equity. We contributed $ 3.2 million for the purchase of one property at formation of the new joint venture, NRV, in exchange for a 20 % ownership interest in NRV. Cohen & Steers acquired an 80 % ownership interest in NRV by contributing $ 12.9 million for the purchase of the one property. | text | 20 | percentItemType | text: <entity> 20 </entity> <entity type> percentItemType </entity type> <context> —In July 2024, through a subsidiary, we entered into a joint venture agreement with an affiliate of Cohen & Steers Income Opportunities REIT, Inc. (“Cohen & Steers”) targeting $ 300 million in total equity. We contributed $ 3.2 million for the purchase of one property at formation of the new joint venture, NRV, in exchange for a 20 % ownership interest in NRV. Cohen & Steers acquired an 80 % ownership interest in NRV by contributing $ 12.9 million for the purchase of the one property. </context> | us-gaap:EquityMethodInvestmentOwnershipPercentage |
—In July 2024, through a subsidiary, we entered into a joint venture agreement with an affiliate of Cohen & Steers Income Opportunities REIT, Inc. (“Cohen & Steers”) targeting $ 300 million in total equity. We contributed $ 3.2 million for the purchase of one property at formation of the new joint venture, NRV, in exchange for a 20 % ownership interest in NRV. Cohen & Steers acquired an 80 % ownership interest in NRV by contributing $ 12.9 million for the purchase of the one property. | text | 80 | percentItemType | text: <entity> 80 </entity> <entity type> percentItemType </entity type> <context> —In July 2024, through a subsidiary, we entered into a joint venture agreement with an affiliate of Cohen & Steers Income Opportunities REIT, Inc. (“Cohen & Steers”) targeting $ 300 million in total equity. We contributed $ 3.2 million for the purchase of one property at formation of the new joint venture, NRV, in exchange for a 20 % ownership interest in NRV. Cohen & Steers acquired an 80 % ownership interest in NRV by contributing $ 12.9 million for the purchase of the one property. </context> | us-gaap:EquityMethodInvestmentOwnershipPercentage |
—In July 2024, through a subsidiary, we entered into a joint venture agreement with an affiliate of Cohen & Steers Income Opportunities REIT, Inc. (“Cohen & Steers”) targeting $ 300 million in total equity. We contributed $ 3.2 million for the purchase of one property at formation of the new joint venture, NRV, in exchange for a 20 % ownership interest in NRV. Cohen & Steers acquired an 80 % ownership interest in NRV by contributing $ 12.9 million for the purchase of the one property. | text | 12.9 | monetaryItemType | text: <entity> 12.9 </entity> <entity type> monetaryItemType </entity type> <context> —In July 2024, through a subsidiary, we entered into a joint venture agreement with an affiliate of Cohen & Steers Income Opportunities REIT, Inc. (“Cohen & Steers”) targeting $ 300 million in total equity. We contributed $ 3.2 million for the purchase of one property at formation of the new joint venture, NRV, in exchange for a 20 % ownership interest in NRV. Cohen & Steers acquired an 80 % ownership interest in NRV by contributing $ 12.9 million for the purchase of the one property. </context> | us-gaap:PaymentsToAcquireInterestInJointVenture |
Subsequent to December 31, 2024, NRV acquired one property for $ 40.1 million. | text | 40.1 | monetaryItemType | text: <entity> 40.1 </entity> <entity type> monetaryItemType </entity type> <context> Subsequent to December 31, 2024, NRV acquired one property for $ 40.1 million. </context> | us-gaap:PaymentsToAcquireInterestInJointVenture |
—In December 2024, through a subsidiary, we entered into a joint venture agreement with certain other investors, which included LS BDC Holdings, LLC, a subsidiary of Lafayette Square USA, Inc. and Northwestern Mutual. We contributed $ 4.2 million for the purchase of one property at formation of the new joint venture, NGCF, in exchange for a 31.25 % ownership interest in NGCF. The other investors acquired ownership interests in NGCF totaling 68.75 % by contributing $ 9.3 million for the purchase of the one property. | text | 4.2 | monetaryItemType | text: <entity> 4.2 </entity> <entity type> monetaryItemType </entity type> <context> —In December 2024, through a subsidiary, we entered into a joint venture agreement with certain other investors, which included LS BDC Holdings, LLC, a subsidiary of Lafayette Square USA, Inc. and Northwestern Mutual. We contributed $ 4.2 million for the purchase of one property at formation of the new joint venture, NGCF, in exchange for a 31.25 % ownership interest in NGCF. The other investors acquired ownership interests in NGCF totaling 68.75 % by contributing $ 9.3 million for the purchase of the one property. </context> | us-gaap:PaymentsToAcquireInterestInJointVenture |
—In December 2024, through a subsidiary, we entered into a joint venture agreement with certain other investors, which included LS BDC Holdings, LLC, a subsidiary of Lafayette Square USA, Inc. and Northwestern Mutual. We contributed $ 4.2 million for the purchase of one property at formation of the new joint venture, NGCF, in exchange for a 31.25 % ownership interest in NGCF. The other investors acquired ownership interests in NGCF totaling 68.75 % by contributing $ 9.3 million for the purchase of the one property. | text | 31.25 | percentItemType | text: <entity> 31.25 </entity> <entity type> percentItemType </entity type> <context> —In December 2024, through a subsidiary, we entered into a joint venture agreement with certain other investors, which included LS BDC Holdings, LLC, a subsidiary of Lafayette Square USA, Inc. and Northwestern Mutual. We contributed $ 4.2 million for the purchase of one property at formation of the new joint venture, NGCF, in exchange for a 31.25 % ownership interest in NGCF. The other investors acquired ownership interests in NGCF totaling 68.75 % by contributing $ 9.3 million for the purchase of the one property. </context> | us-gaap:EquityMethodInvestmentOwnershipPercentage |
—In December 2024, through a subsidiary, we entered into a joint venture agreement with certain other investors, which included LS BDC Holdings, LLC, a subsidiary of Lafayette Square USA, Inc. and Northwestern Mutual. We contributed $ 4.2 million for the purchase of one property at formation of the new joint venture, NGCF, in exchange for a 31.25 % ownership interest in NGCF. The other investors acquired ownership interests in NGCF totaling 68.75 % by contributing $ 9.3 million for the purchase of the one property. | text | 68.75 | percentItemType | text: <entity> 68.75 </entity> <entity type> percentItemType </entity type> <context> —In December 2024, through a subsidiary, we entered into a joint venture agreement with certain other investors, which included LS BDC Holdings, LLC, a subsidiary of Lafayette Square USA, Inc. and Northwestern Mutual. We contributed $ 4.2 million for the purchase of one property at formation of the new joint venture, NGCF, in exchange for a 31.25 % ownership interest in NGCF. The other investors acquired ownership interests in NGCF totaling 68.75 % by contributing $ 9.3 million for the purchase of the one property. </context> | us-gaap:EquityMethodInvestmentOwnershipPercentage |
—In December 2024, through a subsidiary, we entered into a joint venture agreement with certain other investors, which included LS BDC Holdings, LLC, a subsidiary of Lafayette Square USA, Inc. and Northwestern Mutual. We contributed $ 4.2 million for the purchase of one property at formation of the new joint venture, NGCF, in exchange for a 31.25 % ownership interest in NGCF. The other investors acquired ownership interests in NGCF totaling 68.75 % by contributing $ 9.3 million for the purchase of the one property. | text | 9.3 | monetaryItemType | text: <entity> 9.3 </entity> <entity type> monetaryItemType </entity type> <context> —In December 2024, through a subsidiary, we entered into a joint venture agreement with certain other investors, which included LS BDC Holdings, LLC, a subsidiary of Lafayette Square USA, Inc. and Northwestern Mutual. We contributed $ 4.2 million for the purchase of one property at formation of the new joint venture, NGCF, in exchange for a 31.25 % ownership interest in NGCF. The other investors acquired ownership interests in NGCF totaling 68.75 % by contributing $ 9.3 million for the purchase of the one property. </context> | us-gaap:PaymentsToAcquireInterestInJointVenture |
We recorded an impairment of our investment in a third-party company of $ 3.0 million in Other Expense, Net on our consolidated statement of operations for the year ended December 31, 2023 (see Note 15). | text | 3.0 | monetaryItemType | text: <entity> 3.0 </entity> <entity type> monetaryItemType </entity type> <context> We recorded an impairment of our investment in a third-party company of $ 3.0 million in Other Expense, Net on our consolidated statement of operations for the year ended December 31, 2023 (see Note 15). </context> | us-gaap:OtherAssetImpairmentCharges |
—In May 2024, we issued $ 350 million of 5.750 % senior notes due 2034 at an issue price of 98.576 % in an underwritten offering. The offering resulted in gross proceeds of $ 345.0 million, which were used to pay down $ 202 million of our revolving credit facility and $ 135 million of our $ 240 million term loan that was set to mature in November 2025. | text | 350 | monetaryItemType | text: <entity> 350 </entity> <entity type> monetaryItemType </entity type> <context> —In May 2024, we issued $ 350 million of 5.750 % senior notes due 2034 at an issue price of 98.576 % in an underwritten offering. The offering resulted in gross proceeds of $ 345.0 million, which were used to pay down $ 202 million of our revolving credit facility and $ 135 million of our $ 240 million term loan that was set to mature in November 2025. </context> | us-gaap:DebtInstrumentFaceAmount |
—In May 2024, we issued $ 350 million of 5.750 % senior notes due 2034 at an issue price of 98.576 % in an underwritten offering. The offering resulted in gross proceeds of $ 345.0 million, which were used to pay down $ 202 million of our revolving credit facility and $ 135 million of our $ 240 million term loan that was set to mature in November 2025. | text | 5.750 | percentItemType | text: <entity> 5.750 </entity> <entity type> percentItemType </entity type> <context> —In May 2024, we issued $ 350 million of 5.750 % senior notes due 2034 at an issue price of 98.576 % in an underwritten offering. The offering resulted in gross proceeds of $ 345.0 million, which were used to pay down $ 202 million of our revolving credit facility and $ 135 million of our $ 240 million term loan that was set to mature in November 2025. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
—In May 2024, we issued $ 350 million of 5.750 % senior notes due 2034 at an issue price of 98.576 % in an underwritten offering. The offering resulted in gross proceeds of $ 345.0 million, which were used to pay down $ 202 million of our revolving credit facility and $ 135 million of our $ 240 million term loan that was set to mature in November 2025. | text | 345.0 | monetaryItemType | text: <entity> 345.0 </entity> <entity type> monetaryItemType </entity type> <context> —In May 2024, we issued $ 350 million of 5.750 % senior notes due 2034 at an issue price of 98.576 % in an underwritten offering. The offering resulted in gross proceeds of $ 345.0 million, which were used to pay down $ 202 million of our revolving credit facility and $ 135 million of our $ 240 million term loan that was set to mature in November 2025. </context> | us-gaap:ProceedsFromIssuanceOfSeniorLongTermDebt |
—In May 2024, we issued $ 350 million of 5.750 % senior notes due 2034 at an issue price of 98.576 % in an underwritten offering. The offering resulted in gross proceeds of $ 345.0 million, which were used to pay down $ 202 million of our revolving credit facility and $ 135 million of our $ 240 million term loan that was set to mature in November 2025. | text | 202 | monetaryItemType | text: <entity> 202 </entity> <entity type> monetaryItemType </entity type> <context> —In May 2024, we issued $ 350 million of 5.750 % senior notes due 2034 at an issue price of 98.576 % in an underwritten offering. The offering resulted in gross proceeds of $ 345.0 million, which were used to pay down $ 202 million of our revolving credit facility and $ 135 million of our $ 240 million term loan that was set to mature in November 2025. </context> | us-gaap:RepaymentsOfLinesOfCredit |
—In May 2024, we issued $ 350 million of 5.750 % senior notes due 2034 at an issue price of 98.576 % in an underwritten offering. The offering resulted in gross proceeds of $ 345.0 million, which were used to pay down $ 202 million of our revolving credit facility and $ 135 million of our $ 240 million term loan that was set to mature in November 2025. | text | 135 | monetaryItemType | text: <entity> 135 </entity> <entity type> monetaryItemType </entity type> <context> —In May 2024, we issued $ 350 million of 5.750 % senior notes due 2034 at an issue price of 98.576 % in an underwritten offering. The offering resulted in gross proceeds of $ 345.0 million, which were used to pay down $ 202 million of our revolving credit facility and $ 135 million of our $ 240 million term loan that was set to mature in November 2025. </context> | us-gaap:RepaymentsOfLongTermDebt |
—In May 2024, we issued $ 350 million of 5.750 % senior notes due 2034 at an issue price of 98.576 % in an underwritten offering. The offering resulted in gross proceeds of $ 345.0 million, which were used to pay down $ 202 million of our revolving credit facility and $ 135 million of our $ 240 million term loan that was set to mature in November 2025. | text | 240 | monetaryItemType | text: <entity> 240 </entity> <entity type> monetaryItemType </entity type> <context> —In May 2024, we issued $ 350 million of 5.750 % senior notes due 2034 at an issue price of 98.576 % in an underwritten offering. The offering resulted in gross proceeds of $ 345.0 million, which were used to pay down $ 202 million of our revolving credit facility and $ 135 million of our $ 240 million term loan that was set to mature in November 2025. </context> | us-gaap:DebtInstrumentCarryingAmount |
In September 2024, we issued $ 350 million of 4.950 % senior notes due 2035 at an issue price of 98.458 % in an underwritten offering. The offering resulted in gross proceeds of $ 344.6 million, which were used to pay down $ 90 million of our revolving credit facility and $ 140 million of our $ 240 million term loan that is set to mature in July 2026. Additionally, we paid in full our $ 105 million term loan that was set to mature in November 2025. | text | 350 | monetaryItemType | text: <entity> 350 </entity> <entity type> monetaryItemType </entity type> <context> In September 2024, we issued $ 350 million of 4.950 % senior notes due 2035 at an issue price of 98.458 % in an underwritten offering. The offering resulted in gross proceeds of $ 344.6 million, which were used to pay down $ 90 million of our revolving credit facility and $ 140 million of our $ 240 million term loan that is set to mature in July 2026. Additionally, we paid in full our $ 105 million term loan that was set to mature in November 2025. </context> | us-gaap:DebtInstrumentFaceAmount |
In September 2024, we issued $ 350 million of 4.950 % senior notes due 2035 at an issue price of 98.458 % in an underwritten offering. The offering resulted in gross proceeds of $ 344.6 million, which were used to pay down $ 90 million of our revolving credit facility and $ 140 million of our $ 240 million term loan that is set to mature in July 2026. Additionally, we paid in full our $ 105 million term loan that was set to mature in November 2025. | text | 4.950 | percentItemType | text: <entity> 4.950 </entity> <entity type> percentItemType </entity type> <context> In September 2024, we issued $ 350 million of 4.950 % senior notes due 2035 at an issue price of 98.458 % in an underwritten offering. The offering resulted in gross proceeds of $ 344.6 million, which were used to pay down $ 90 million of our revolving credit facility and $ 140 million of our $ 240 million term loan that is set to mature in July 2026. Additionally, we paid in full our $ 105 million term loan that was set to mature in November 2025. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
In September 2024, we issued $ 350 million of 4.950 % senior notes due 2035 at an issue price of 98.458 % in an underwritten offering. The offering resulted in gross proceeds of $ 344.6 million, which were used to pay down $ 90 million of our revolving credit facility and $ 140 million of our $ 240 million term loan that is set to mature in July 2026. Additionally, we paid in full our $ 105 million term loan that was set to mature in November 2025. | text | 344.6 | monetaryItemType | text: <entity> 344.6 </entity> <entity type> monetaryItemType </entity type> <context> In September 2024, we issued $ 350 million of 4.950 % senior notes due 2035 at an issue price of 98.458 % in an underwritten offering. The offering resulted in gross proceeds of $ 344.6 million, which were used to pay down $ 90 million of our revolving credit facility and $ 140 million of our $ 240 million term loan that is set to mature in July 2026. Additionally, we paid in full our $ 105 million term loan that was set to mature in November 2025. </context> | us-gaap:ProceedsFromIssuanceOfSeniorLongTermDebt |
In September 2024, we issued $ 350 million of 4.950 % senior notes due 2035 at an issue price of 98.458 % in an underwritten offering. The offering resulted in gross proceeds of $ 344.6 million, which were used to pay down $ 90 million of our revolving credit facility and $ 140 million of our $ 240 million term loan that is set to mature in July 2026. Additionally, we paid in full our $ 105 million term loan that was set to mature in November 2025. | text | 90 | monetaryItemType | text: <entity> 90 </entity> <entity type> monetaryItemType </entity type> <context> In September 2024, we issued $ 350 million of 4.950 % senior notes due 2035 at an issue price of 98.458 % in an underwritten offering. The offering resulted in gross proceeds of $ 344.6 million, which were used to pay down $ 90 million of our revolving credit facility and $ 140 million of our $ 240 million term loan that is set to mature in July 2026. Additionally, we paid in full our $ 105 million term loan that was set to mature in November 2025. </context> | us-gaap:RepaymentsOfLinesOfCredit |
In September 2024, we issued $ 350 million of 4.950 % senior notes due 2035 at an issue price of 98.458 % in an underwritten offering. The offering resulted in gross proceeds of $ 344.6 million, which were used to pay down $ 90 million of our revolving credit facility and $ 140 million of our $ 240 million term loan that is set to mature in July 2026. Additionally, we paid in full our $ 105 million term loan that was set to mature in November 2025. | text | 140 | monetaryItemType | text: <entity> 140 </entity> <entity type> monetaryItemType </entity type> <context> In September 2024, we issued $ 350 million of 4.950 % senior notes due 2035 at an issue price of 98.458 % in an underwritten offering. The offering resulted in gross proceeds of $ 344.6 million, which were used to pay down $ 90 million of our revolving credit facility and $ 140 million of our $ 240 million term loan that is set to mature in July 2026. Additionally, we paid in full our $ 105 million term loan that was set to mature in November 2025. </context> | us-gaap:RepaymentsOfLongTermDebt |
In September 2024, we issued $ 350 million of 4.950 % senior notes due 2035 at an issue price of 98.458 % in an underwritten offering. The offering resulted in gross proceeds of $ 344.6 million, which were used to pay down $ 90 million of our revolving credit facility and $ 140 million of our $ 240 million term loan that is set to mature in July 2026. Additionally, we paid in full our $ 105 million term loan that was set to mature in November 2025. | text | 240 | monetaryItemType | text: <entity> 240 </entity> <entity type> monetaryItemType </entity type> <context> In September 2024, we issued $ 350 million of 4.950 % senior notes due 2035 at an issue price of 98.458 % in an underwritten offering. The offering resulted in gross proceeds of $ 344.6 million, which were used to pay down $ 90 million of our revolving credit facility and $ 140 million of our $ 240 million term loan that is set to mature in July 2026. Additionally, we paid in full our $ 105 million term loan that was set to mature in November 2025. </context> | us-gaap:DebtInstrumentCarryingAmount |
In September 2024, we issued $ 350 million of 4.950 % senior notes due 2035 at an issue price of 98.458 % in an underwritten offering. The offering resulted in gross proceeds of $ 344.6 million, which were used to pay down $ 90 million of our revolving credit facility and $ 140 million of our $ 240 million term loan that is set to mature in July 2026. Additionally, we paid in full our $ 105 million term loan that was set to mature in November 2025. | text | 105 | monetaryItemType | text: <entity> 105 </entity> <entity type> monetaryItemType </entity type> <context> In September 2024, we issued $ 350 million of 4.950 % senior notes due 2035 at an issue price of 98.458 % in an underwritten offering. The offering resulted in gross proceeds of $ 344.6 million, which were used to pay down $ 90 million of our revolving credit facility and $ 140 million of our $ 240 million term loan that is set to mature in July 2026. Additionally, we paid in full our $ 105 million term loan that was set to mature in November 2025. </context> | us-gaap:RepaymentsOfLongTermDebt |
During the year ended December 31, 2024, we repaid $ 28.1 million in mortgage debt. | text | 28.1 | monetaryItemType | text: <entity> 28.1 </entity> <entity type> monetaryItemType </entity type> <context> During the year ended December 31, 2024, we repaid $ 28.1 million in mortgage debt. </context> | us-gaap:RepaymentsOfLongTermDebt |
—In July 2023, we amended three senior unsecured term loans with a total notional amount of $ 475 million scheduled to mature during 2024. The three senior unsecured term loans, as amended, have a total notional amount of $ 484.8 million. The $ 161.8 million unsecured term loan is priced based on a leverage grid, which was SOFR plus 1.35 % at issuance, and is scheduled to mature in January 2026 extendable with two one -year options to 2028. The $ 158 million and $ 165 million unsecured term loans are priced based on a leverage grid, which was SOFR plus 1.35 % at issuance, and mature in January 2027. | text | 475 | monetaryItemType | text: <entity> 475 </entity> <entity type> monetaryItemType </entity type> <context> —In July 2023, we amended three senior unsecured term loans with a total notional amount of $ 475 million scheduled to mature during 2024. The three senior unsecured term loans, as amended, have a total notional amount of $ 484.8 million. The $ 161.8 million unsecured term loan is priced based on a leverage grid, which was SOFR plus 1.35 % at issuance, and is scheduled to mature in January 2026 extendable with two one -year options to 2028. The $ 158 million and $ 165 million unsecured term loans are priced based on a leverage grid, which was SOFR plus 1.35 % at issuance, and mature in January 2027. </context> | us-gaap:DerivativeNotionalAmount |
—In July 2023, we amended three senior unsecured term loans with a total notional amount of $ 475 million scheduled to mature during 2024. The three senior unsecured term loans, as amended, have a total notional amount of $ 484.8 million. The $ 161.8 million unsecured term loan is priced based on a leverage grid, which was SOFR plus 1.35 % at issuance, and is scheduled to mature in January 2026 extendable with two one -year options to 2028. The $ 158 million and $ 165 million unsecured term loans are priced based on a leverage grid, which was SOFR plus 1.35 % at issuance, and mature in January 2027. | text | 484.8 | monetaryItemType | text: <entity> 484.8 </entity> <entity type> monetaryItemType </entity type> <context> —In July 2023, we amended three senior unsecured term loans with a total notional amount of $ 475 million scheduled to mature during 2024. The three senior unsecured term loans, as amended, have a total notional amount of $ 484.8 million. The $ 161.8 million unsecured term loan is priced based on a leverage grid, which was SOFR plus 1.35 % at issuance, and is scheduled to mature in January 2026 extendable with two one -year options to 2028. The $ 158 million and $ 165 million unsecured term loans are priced based on a leverage grid, which was SOFR plus 1.35 % at issuance, and mature in January 2027. </context> | us-gaap:DerivativeNotionalAmount |
—In July 2023, we amended three senior unsecured term loans with a total notional amount of $ 475 million scheduled to mature during 2024. The three senior unsecured term loans, as amended, have a total notional amount of $ 484.8 million. The $ 161.8 million unsecured term loan is priced based on a leverage grid, which was SOFR plus 1.35 % at issuance, and is scheduled to mature in January 2026 extendable with two one -year options to 2028. The $ 158 million and $ 165 million unsecured term loans are priced based on a leverage grid, which was SOFR plus 1.35 % at issuance, and mature in January 2027. | text | 161.8 | monetaryItemType | text: <entity> 161.8 </entity> <entity type> monetaryItemType </entity type> <context> —In July 2023, we amended three senior unsecured term loans with a total notional amount of $ 475 million scheduled to mature during 2024. The three senior unsecured term loans, as amended, have a total notional amount of $ 484.8 million. The $ 161.8 million unsecured term loan is priced based on a leverage grid, which was SOFR plus 1.35 % at issuance, and is scheduled to mature in January 2026 extendable with two one -year options to 2028. The $ 158 million and $ 165 million unsecured term loans are priced based on a leverage grid, which was SOFR plus 1.35 % at issuance, and mature in January 2027. </context> | us-gaap:DebtInstrumentFaceAmount |
—In July 2023, we amended three senior unsecured term loans with a total notional amount of $ 475 million scheduled to mature during 2024. The three senior unsecured term loans, as amended, have a total notional amount of $ 484.8 million. The $ 161.8 million unsecured term loan is priced based on a leverage grid, which was SOFR plus 1.35 % at issuance, and is scheduled to mature in January 2026 extendable with two one -year options to 2028. The $ 158 million and $ 165 million unsecured term loans are priced based on a leverage grid, which was SOFR plus 1.35 % at issuance, and mature in January 2027. | text | 1.35 | percentItemType | text: <entity> 1.35 </entity> <entity type> percentItemType </entity type> <context> —In July 2023, we amended three senior unsecured term loans with a total notional amount of $ 475 million scheduled to mature during 2024. The three senior unsecured term loans, as amended, have a total notional amount of $ 484.8 million. The $ 161.8 million unsecured term loan is priced based on a leverage grid, which was SOFR plus 1.35 % at issuance, and is scheduled to mature in January 2026 extendable with two one -year options to 2028. The $ 158 million and $ 165 million unsecured term loans are priced based on a leverage grid, which was SOFR plus 1.35 % at issuance, and mature in January 2027. </context> | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
—In July 2023, we amended three senior unsecured term loans with a total notional amount of $ 475 million scheduled to mature during 2024. The three senior unsecured term loans, as amended, have a total notional amount of $ 484.8 million. The $ 161.8 million unsecured term loan is priced based on a leverage grid, which was SOFR plus 1.35 % at issuance, and is scheduled to mature in January 2026 extendable with two one -year options to 2028. The $ 158 million and $ 165 million unsecured term loans are priced based on a leverage grid, which was SOFR plus 1.35 % at issuance, and mature in January 2027. | text | 158 | monetaryItemType | text: <entity> 158 </entity> <entity type> monetaryItemType </entity type> <context> —In July 2023, we amended three senior unsecured term loans with a total notional amount of $ 475 million scheduled to mature during 2024. The three senior unsecured term loans, as amended, have a total notional amount of $ 484.8 million. The $ 161.8 million unsecured term loan is priced based on a leverage grid, which was SOFR plus 1.35 % at issuance, and is scheduled to mature in January 2026 extendable with two one -year options to 2028. The $ 158 million and $ 165 million unsecured term loans are priced based on a leverage grid, which was SOFR plus 1.35 % at issuance, and mature in January 2027. </context> | us-gaap:DebtInstrumentFaceAmount |
—In July 2023, we amended three senior unsecured term loans with a total notional amount of $ 475 million scheduled to mature during 2024. The three senior unsecured term loans, as amended, have a total notional amount of $ 484.8 million. The $ 161.8 million unsecured term loan is priced based on a leverage grid, which was SOFR plus 1.35 % at issuance, and is scheduled to mature in January 2026 extendable with two one -year options to 2028. The $ 158 million and $ 165 million unsecured term loans are priced based on a leverage grid, which was SOFR plus 1.35 % at issuance, and mature in January 2027. | text | 165 | monetaryItemType | text: <entity> 165 </entity> <entity type> monetaryItemType </entity type> <context> —In July 2023, we amended three senior unsecured term loans with a total notional amount of $ 475 million scheduled to mature during 2024. The three senior unsecured term loans, as amended, have a total notional amount of $ 484.8 million. The $ 161.8 million unsecured term loan is priced based on a leverage grid, which was SOFR plus 1.35 % at issuance, and is scheduled to mature in January 2026 extendable with two one -year options to 2028. The $ 158 million and $ 165 million unsecured term loans are priced based on a leverage grid, which was SOFR plus 1.35 % at issuance, and mature in January 2027. </context> | us-gaap:DebtInstrumentFaceAmount |
During the year ended December 31, 2023, we repaid $ 47.3 million in mortgage debt. | text | 47.3 | monetaryItemType | text: <entity> 47.3 </entity> <entity type> monetaryItemType </entity type> <context> During the year ended December 31, 2023, we repaid $ 47.3 million in mortgage debt. </context> | us-gaap:RepaymentsOfLongTermDebt |
—As of December 31, 2024, we had an $ 800 million senior unsecured revolving credit facility with availability of $ 738.9 million, which was net of outstanding letters of credit. The revolving credit facility was set to mature in January 2026, and we paid a facility fee of 0.25 % on the total amount under the facility. | text | 800 | monetaryItemType | text: <entity> 800 </entity> <entity type> monetaryItemType </entity type> <context> —As of December 31, 2024, we had an $ 800 million senior unsecured revolving credit facility with availability of $ 738.9 million, which was net of outstanding letters of credit. The revolving credit facility was set to mature in January 2026, and we paid a facility fee of 0.25 % on the total amount under the facility. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
—As of December 31, 2024, we had an $ 800 million senior unsecured revolving credit facility with availability of $ 738.9 million, which was net of outstanding letters of credit. The revolving credit facility was set to mature in January 2026, and we paid a facility fee of 0.25 % on the total amount under the facility. | text | 738.9 | monetaryItemType | text: <entity> 738.9 </entity> <entity type> monetaryItemType </entity type> <context> —As of December 31, 2024, we had an $ 800 million senior unsecured revolving credit facility with availability of $ 738.9 million, which was net of outstanding letters of credit. The revolving credit facility was set to mature in January 2026, and we paid a facility fee of 0.25 % on the total amount under the facility. </context> | us-gaap:LineOfCreditFacilityRemainingBorrowingCapacity |
—As of December 31, 2024, we had an $ 800 million senior unsecured revolving credit facility with availability of $ 738.9 million, which was net of outstanding letters of credit. The revolving credit facility was set to mature in January 2026, and we paid a facility fee of 0.25 % on the total amount under the facility. | text | 0.25 | percentItemType | text: <entity> 0.25 </entity> <entity type> percentItemType </entity type> <context> —As of December 31, 2024, we had an $ 800 million senior unsecured revolving credit facility with availability of $ 738.9 million, which was net of outstanding letters of credit. The revolving credit facility was set to mature in January 2026, and we paid a facility fee of 0.25 % on the total amount under the facility. </context> | us-gaap:LineOfCreditFacilityCommitmentFeePercentage |
On January 9, 2025, we amended our senior unsecured revolving credit facility. The amendment increases the aggregate borrowing capacity of the facility to $ 1 billion and extends the maturity date to January 2029, with options to extend the maturity for two additional six-month periods. | text | 1 | monetaryItemType | text: <entity> 1 </entity> <entity type> monetaryItemType </entity type> <context> On January 9, 2025, we amended our senior unsecured revolving credit facility. The amendment increases the aggregate borrowing capacity of the facility to $ 1 billion and extends the maturity date to January 2029, with options to extend the maturity for two additional six-month periods. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
—We have four unsecured term loans with maturities ranging from 2026 to 2027. Our term loans have interest rates of SOFR plus interest rate spreads based on our investment grade rating. We have utilized interest rate swaps to fix the rates on the majority of our term loans, with $ 109.8 million in term loans not fixed through such swaps. | text | 109.8 | monetaryItemType | text: <entity> 109.8 </entity> <entity type> monetaryItemType </entity type> <context> —We have four unsecured term loans with maturities ranging from 2026 to 2027. Our term loans have interest rates of SOFR plus interest rate spreads based on our investment grade rating. We have utilized interest rate swaps to fix the rates on the majority of our term loans, with $ 109.8 million in term loans not fixed through such swaps. </context> | us-gaap:LongtermDebtPercentageBearingVariableInterestAmount |
As of December 31, 2024 and 2023, the weighted-average interest rate, including the impact of swaps, on our term loans was 4.6 % and 4.7 %, respectively. | text | 4.6 | percentItemType | text: <entity> 4.6 </entity> <entity type> percentItemType </entity type> <context> As of December 31, 2024 and 2023, the weighted-average interest rate, including the impact of swaps, on our term loans was 4.6 % and 4.7 %, respectively. </context> | us-gaap:LongtermDebtWeightedAverageInterestRate |
As of December 31, 2024 and 2023, the weighted-average interest rate, including the impact of swaps, on our term loans was 4.6 % and 4.7 %, respectively. | text | 4.7 | percentItemType | text: <entity> 4.7 </entity> <entity type> percentItemType </entity type> <context> As of December 31, 2024 and 2023, the weighted-average interest rate, including the impact of swaps, on our term loans was 4.6 % and 4.7 %, respectively. </context> | us-gaap:LongtermDebtWeightedAverageInterestRate |
—Our secured debt includes two facilities secured by certain properties in our portfolio, mortgage loans secured by individual properties, and finance leases. The interest rates on our secured debt are fixed. As of December 31, 2024 and 2023, our weighted average interest rate for our secured debt was 3.6 % and 3.7 %, respectively. | text | 3.6 | percentItemType | text: <entity> 3.6 </entity> <entity type> percentItemType </entity type> <context> —Our secured debt includes two facilities secured by certain properties in our portfolio, mortgage loans secured by individual properties, and finance leases. The interest rates on our secured debt are fixed. As of December 31, 2024 and 2023, our weighted average interest rate for our secured debt was 3.6 % and 3.7 %, respectively. </context> | us-gaap:LongtermDebtWeightedAverageInterestRate |
—Our secured debt includes two facilities secured by certain properties in our portfolio, mortgage loans secured by individual properties, and finance leases. The interest rates on our secured debt are fixed. As of December 31, 2024 and 2023, our weighted average interest rate for our secured debt was 3.6 % and 3.7 %, respectively. | text | 3.7 | percentItemType | text: <entity> 3.7 </entity> <entity type> percentItemType </entity type> <context> —Our secured debt includes two facilities secured by certain properties in our portfolio, mortgage loans secured by individual properties, and finance leases. The interest rates on our secured debt are fixed. As of December 31, 2024 and 2023, our weighted average interest rate for our secured debt was 3.6 % and 3.7 %, respectively. </context> | us-gaap:LongtermDebtWeightedAverageInterestRate |
Fixed-rate debt includes, and variable-rate debt excludes, the portion of such debt that has been hedged by interest rate derivatives. As of December 31, 2024, $ 475 million in variable rate debt was hedged to a fixed rate for a weighted-average period of 1.3 years (see Notes 9 and 16). | text | 475 | monetaryItemType | text: <entity> 475 </entity> <entity type> monetaryItemType </entity type> <context> Fixed-rate debt includes, and variable-rate debt excludes, the portion of such debt that has been hedged by interest rate derivatives. As of December 31, 2024, $ 475 million in variable rate debt was hedged to a fixed rate for a weighted-average period of 1.3 years (see Notes 9 and 16). </context> | us-gaap:HedgedLiabilityFairValueHedge |
The changes in the fair value of derivatives designated, and that qualify, as cash flow hedges are recorded in AOCI and are subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. During the years ended December 31, 2024 and 2023, such derivatives were used to hedge the variable cash flows associated with certain variable-rate debt. Amounts reported in AOCI related to these derivatives will be reclassified to Interest Expense, Net as interest payments are made on the variable-rate debt. During the next twelve months, we estimate that an additional $ 3.8 million will be reclassified from AOCI as a decrease to Interest Expense, Net. | text | 3.8 | monetaryItemType | text: <entity> 3.8 </entity> <entity type> monetaryItemType </entity type> <context> The changes in the fair value of derivatives designated, and that qualify, as cash flow hedges are recorded in AOCI and are subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. During the years ended December 31, 2024 and 2023, such derivatives were used to hedge the variable cash flows associated with certain variable-rate debt. Amounts reported in AOCI related to these derivatives will be reclassified to Interest Expense, Net as interest payments are made on the variable-rate debt. During the next twelve months, we estimate that an additional $ 3.8 million will be reclassified from AOCI as a decrease to Interest Expense, Net. </context> | us-gaap:DerivativeInstrumentsGainLossReclassificationFromAccumulatedOCIToIncomeEstimatedNetAmountToBeTransferred |
In March 2023, we entered into an interest rate swap which has a notional amount of $ 200 million and swaps SOFR for a fixed rate of approximately 3.36 % which became effective in September 2023 and matures in September 2026. | text | 200 | monetaryItemType | text: <entity> 200 </entity> <entity type> monetaryItemType </entity type> <context> In March 2023, we entered into an interest rate swap which has a notional amount of $ 200 million and swaps SOFR for a fixed rate of approximately 3.36 % which became effective in September 2023 and matures in September 2026. </context> | us-gaap:DerivativeNotionalAmount |
In March 2023, we entered into an interest rate swap which has a notional amount of $ 200 million and swaps SOFR for a fixed rate of approximately 3.36 % which became effective in September 2023 and matures in September 2026. | text | 3.36 | percentItemType | text: <entity> 3.36 </entity> <entity type> percentItemType </entity type> <context> In March 2023, we entered into an interest rate swap which has a notional amount of $ 200 million and swaps SOFR for a fixed rate of approximately 3.36 % which became effective in September 2023 and matures in September 2026. </context> | us-gaap:DerivativeFixedInterestRate |
In January 2024, we entered into an interest rate swap which has a notional amount of $ 150 million and swaps SOFR for a fixed rate of approximately 3.45 % which became effective in September 2024 and matures in December 2025. | text | 150 | monetaryItemType | text: <entity> 150 </entity> <entity type> monetaryItemType </entity type> <context> In January 2024, we entered into an interest rate swap which has a notional amount of $ 150 million and swaps SOFR for a fixed rate of approximately 3.45 % which became effective in September 2024 and matures in December 2025. </context> | us-gaap:DerivativeNotionalAmount |
In January 2024, we entered into an interest rate swap which has a notional amount of $ 150 million and swaps SOFR for a fixed rate of approximately 3.45 % which became effective in September 2024 and matures in December 2025. | text | 3.45 | percentItemType | text: <entity> 3.45 </entity> <entity type> percentItemType </entity type> <context> In January 2024, we entered into an interest rate swap which has a notional amount of $ 150 million and swaps SOFR for a fixed rate of approximately 3.45 % which became effective in September 2024 and matures in December 2025. </context> | us-gaap:DerivativeFixedInterestRate |
We believed, based on available evidence, it was not more likely than not that our net deferred tax asset would be realized in future periods and, therefore, recorded a valuation allowance equal to the net deferred tax asset balance at December 31, 2023. During the second quarter of 2024, we concluded that it was more likely than not that a significant portion of our net deferred tax asset will be realized. We reached this conclusion as certain of our TRS entities reported positive cumulative pre-tax earnings in recent years, and are projected to generate future pre-tax earnings. We released $ 1.0 million of the valuation allowance for the year ended December 31, 2024. Income tax expense for the year ended December 31, 2024 was reduced by an amount equal to the amount of the valuation allowance released during 2024. There was an insignificant valuation allowance remaining at December 31, 2024 for certain state net operating losses that we do not believe will be realized. | text | 1.0 | monetaryItemType | text: <entity> 1.0 </entity> <entity type> monetaryItemType </entity type> <context> We believed, based on available evidence, it was not more likely than not that our net deferred tax asset would be realized in future periods and, therefore, recorded a valuation allowance equal to the net deferred tax asset balance at December 31, 2023. During the second quarter of 2024, we concluded that it was more likely than not that a significant portion of our net deferred tax asset will be realized. We reached this conclusion as certain of our TRS entities reported positive cumulative pre-tax earnings in recent years, and are projected to generate future pre-tax earnings. We released $ 1.0 million of the valuation allowance for the year ended December 31, 2024. Income tax expense for the year ended December 31, 2024 was reduced by an amount equal to the amount of the valuation allowance released during 2024. There was an insignificant valuation allowance remaining at December 31, 2024 for certain state net operating losses that we do not believe will be realized. </context> | us-gaap:IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance |
Our deferred tax assets and liabilities result from the activities of our TRS entities. As of December 31, 2024, the TRS entities have state NOL carryforwards of approximately $ 3.2 million, which will expire as determined under each state's statute. | text | 3.2 | monetaryItemType | text: <entity> 3.2 </entity> <entity type> monetaryItemType </entity type> <context> Our deferred tax assets and liabilities result from the activities of our TRS entities. As of December 31, 2024, the TRS entities have state NOL carryforwards of approximately $ 3.2 million, which will expire as determined under each state's statute. </context> | us-gaap:OperatingLossCarryforwards |
As of December 31, 2024, we had three letters of credit outstanding totaling approximately $ 21.1 million to provide security for our obligations under Silver Rock’s insurance and reinsurance contracts. | text | 21.1 | monetaryItemType | text: <entity> 21.1 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024, we had three letters of credit outstanding totaling approximately $ 21.1 million to provide security for our obligations under Silver Rock’s insurance and reinsurance contracts. </context> | us-gaap:LettersOfCreditOutstandingAmount |
—In February 2022, we entered into a sales agreement relating to the potential sale of shares of common stock pursuant to a continuous offering program, allowing up to $ 250 million in offerings. During the year ended December 31, 2024, prior to the entry into the new program described below, we issued approximately 46,000 shares of our common stock at a gross weighted average price of $ 37.05 per share under this ATM program for net proceeds of $ 1.7 million, after approximately $ 17,000 in commissions. During the year ended December 31, 2023, we issued 4.2 million shares of our common stock at a gross weighted average price of $ 35.76 per share under this ATM program for net proceeds of $ 147.6 million, after approximately $ 1.5 million in commissions. | text | 46000 | sharesItemType | text: <entity> 46000 </entity> <entity type> sharesItemType </entity type> <context> —In February 2022, we entered into a sales agreement relating to the potential sale of shares of common stock pursuant to a continuous offering program, allowing up to $ 250 million in offerings. During the year ended December 31, 2024, prior to the entry into the new program described below, we issued approximately 46,000 shares of our common stock at a gross weighted average price of $ 37.05 per share under this ATM program for net proceeds of $ 1.7 million, after approximately $ 17,000 in commissions. During the year ended December 31, 2023, we issued 4.2 million shares of our common stock at a gross weighted average price of $ 35.76 per share under this ATM program for net proceeds of $ 147.6 million, after approximately $ 1.5 million in commissions. </context> | us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction |
—In February 2022, we entered into a sales agreement relating to the potential sale of shares of common stock pursuant to a continuous offering program, allowing up to $ 250 million in offerings. During the year ended December 31, 2024, prior to the entry into the new program described below, we issued approximately 46,000 shares of our common stock at a gross weighted average price of $ 37.05 per share under this ATM program for net proceeds of $ 1.7 million, after approximately $ 17,000 in commissions. During the year ended December 31, 2023, we issued 4.2 million shares of our common stock at a gross weighted average price of $ 35.76 per share under this ATM program for net proceeds of $ 147.6 million, after approximately $ 1.5 million in commissions. | text | 1.7 | monetaryItemType | text: <entity> 1.7 </entity> <entity type> monetaryItemType </entity type> <context> —In February 2022, we entered into a sales agreement relating to the potential sale of shares of common stock pursuant to a continuous offering program, allowing up to $ 250 million in offerings. During the year ended December 31, 2024, prior to the entry into the new program described below, we issued approximately 46,000 shares of our common stock at a gross weighted average price of $ 37.05 per share under this ATM program for net proceeds of $ 1.7 million, after approximately $ 17,000 in commissions. During the year ended December 31, 2023, we issued 4.2 million shares of our common stock at a gross weighted average price of $ 35.76 per share under this ATM program for net proceeds of $ 147.6 million, after approximately $ 1.5 million in commissions. </context> | us-gaap:SaleOfStockConsiderationReceivedOnTransaction |
—In February 2022, we entered into a sales agreement relating to the potential sale of shares of common stock pursuant to a continuous offering program, allowing up to $ 250 million in offerings. During the year ended December 31, 2024, prior to the entry into the new program described below, we issued approximately 46,000 shares of our common stock at a gross weighted average price of $ 37.05 per share under this ATM program for net proceeds of $ 1.7 million, after approximately $ 17,000 in commissions. During the year ended December 31, 2023, we issued 4.2 million shares of our common stock at a gross weighted average price of $ 35.76 per share under this ATM program for net proceeds of $ 147.6 million, after approximately $ 1.5 million in commissions. | text | 17000 | monetaryItemType | text: <entity> 17000 </entity> <entity type> monetaryItemType </entity type> <context> —In February 2022, we entered into a sales agreement relating to the potential sale of shares of common stock pursuant to a continuous offering program, allowing up to $ 250 million in offerings. During the year ended December 31, 2024, prior to the entry into the new program described below, we issued approximately 46,000 shares of our common stock at a gross weighted average price of $ 37.05 per share under this ATM program for net proceeds of $ 1.7 million, after approximately $ 17,000 in commissions. During the year ended December 31, 2023, we issued 4.2 million shares of our common stock at a gross weighted average price of $ 35.76 per share under this ATM program for net proceeds of $ 147.6 million, after approximately $ 1.5 million in commissions. </context> | us-gaap:PaymentsOfStockIssuanceCosts |
—In February 2022, we entered into a sales agreement relating to the potential sale of shares of common stock pursuant to a continuous offering program, allowing up to $ 250 million in offerings. During the year ended December 31, 2024, prior to the entry into the new program described below, we issued approximately 46,000 shares of our common stock at a gross weighted average price of $ 37.05 per share under this ATM program for net proceeds of $ 1.7 million, after approximately $ 17,000 in commissions. During the year ended December 31, 2023, we issued 4.2 million shares of our common stock at a gross weighted average price of $ 35.76 per share under this ATM program for net proceeds of $ 147.6 million, after approximately $ 1.5 million in commissions. | text | 4.2 | sharesItemType | text: <entity> 4.2 </entity> <entity type> sharesItemType </entity type> <context> —In February 2022, we entered into a sales agreement relating to the potential sale of shares of common stock pursuant to a continuous offering program, allowing up to $ 250 million in offerings. During the year ended December 31, 2024, prior to the entry into the new program described below, we issued approximately 46,000 shares of our common stock at a gross weighted average price of $ 37.05 per share under this ATM program for net proceeds of $ 1.7 million, after approximately $ 17,000 in commissions. During the year ended December 31, 2023, we issued 4.2 million shares of our common stock at a gross weighted average price of $ 35.76 per share under this ATM program for net proceeds of $ 147.6 million, after approximately $ 1.5 million in commissions. </context> | us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction |
—In February 2022, we entered into a sales agreement relating to the potential sale of shares of common stock pursuant to a continuous offering program, allowing up to $ 250 million in offerings. During the year ended December 31, 2024, prior to the entry into the new program described below, we issued approximately 46,000 shares of our common stock at a gross weighted average price of $ 37.05 per share under this ATM program for net proceeds of $ 1.7 million, after approximately $ 17,000 in commissions. During the year ended December 31, 2023, we issued 4.2 million shares of our common stock at a gross weighted average price of $ 35.76 per share under this ATM program for net proceeds of $ 147.6 million, after approximately $ 1.5 million in commissions. | text | 147.6 | monetaryItemType | text: <entity> 147.6 </entity> <entity type> monetaryItemType </entity type> <context> —In February 2022, we entered into a sales agreement relating to the potential sale of shares of common stock pursuant to a continuous offering program, allowing up to $ 250 million in offerings. During the year ended December 31, 2024, prior to the entry into the new program described below, we issued approximately 46,000 shares of our common stock at a gross weighted average price of $ 37.05 per share under this ATM program for net proceeds of $ 1.7 million, after approximately $ 17,000 in commissions. During the year ended December 31, 2023, we issued 4.2 million shares of our common stock at a gross weighted average price of $ 35.76 per share under this ATM program for net proceeds of $ 147.6 million, after approximately $ 1.5 million in commissions. </context> | us-gaap:SaleOfStockConsiderationReceivedOnTransaction |
—In February 2022, we entered into a sales agreement relating to the potential sale of shares of common stock pursuant to a continuous offering program, allowing up to $ 250 million in offerings. During the year ended December 31, 2024, prior to the entry into the new program described below, we issued approximately 46,000 shares of our common stock at a gross weighted average price of $ 37.05 per share under this ATM program for net proceeds of $ 1.7 million, after approximately $ 17,000 in commissions. During the year ended December 31, 2023, we issued 4.2 million shares of our common stock at a gross weighted average price of $ 35.76 per share under this ATM program for net proceeds of $ 147.6 million, after approximately $ 1.5 million in commissions. | text | 1.5 | monetaryItemType | text: <entity> 1.5 </entity> <entity type> monetaryItemType </entity type> <context> —In February 2022, we entered into a sales agreement relating to the potential sale of shares of common stock pursuant to a continuous offering program, allowing up to $ 250 million in offerings. During the year ended December 31, 2024, prior to the entry into the new program described below, we issued approximately 46,000 shares of our common stock at a gross weighted average price of $ 37.05 per share under this ATM program for net proceeds of $ 1.7 million, after approximately $ 17,000 in commissions. During the year ended December 31, 2023, we issued 4.2 million shares of our common stock at a gross weighted average price of $ 35.76 per share under this ATM program for net proceeds of $ 147.6 million, after approximately $ 1.5 million in commissions. </context> | us-gaap:PaymentsOfStockIssuanceCosts |
In February 2024, we entered into a new sales agreement relating to the potential sale of shares of common stock pursuant to a continuous offering program, which replaced the previous agreement. In accordance with the terms of the sales agreement, we may offer and sell shares of our common stock having an aggregate offering price of up to $ 250 million from time to time through our sales agents, or, if applicable, as forward sellers. During the three months and year ended December 31, 2024, we issued 1.9 million shares of our common stock at a gross weighted average price of $ 39.23 under this ATM program for net proceeds of $ 72.1 million, after approximately $ 0.7 million in commissions. As of December 31, 2024, approximately $ 177 million of common stock remained available for issuance under the current ATM program. | text | 72.1 | monetaryItemType | text: <entity> 72.1 </entity> <entity type> monetaryItemType </entity type> <context> In February 2024, we entered into a new sales agreement relating to the potential sale of shares of common stock pursuant to a continuous offering program, which replaced the previous agreement. In accordance with the terms of the sales agreement, we may offer and sell shares of our common stock having an aggregate offering price of up to $ 250 million from time to time through our sales agents, or, if applicable, as forward sellers. During the three months and year ended December 31, 2024, we issued 1.9 million shares of our common stock at a gross weighted average price of $ 39.23 under this ATM program for net proceeds of $ 72.1 million, after approximately $ 0.7 million in commissions. As of December 31, 2024, approximately $ 177 million of common stock remained available for issuance under the current ATM program. </context> | us-gaap:SaleOfStockConsiderationReceivedOnTransaction |
In February 2024, we entered into a new sales agreement relating to the potential sale of shares of common stock pursuant to a continuous offering program, which replaced the previous agreement. In accordance with the terms of the sales agreement, we may offer and sell shares of our common stock having an aggregate offering price of up to $ 250 million from time to time through our sales agents, or, if applicable, as forward sellers. During the three months and year ended December 31, 2024, we issued 1.9 million shares of our common stock at a gross weighted average price of $ 39.23 under this ATM program for net proceeds of $ 72.1 million, after approximately $ 0.7 million in commissions. As of December 31, 2024, approximately $ 177 million of common stock remained available for issuance under the current ATM program. | text | 0.7 | monetaryItemType | text: <entity> 0.7 </entity> <entity type> monetaryItemType </entity type> <context> In February 2024, we entered into a new sales agreement relating to the potential sale of shares of common stock pursuant to a continuous offering program, which replaced the previous agreement. In accordance with the terms of the sales agreement, we may offer and sell shares of our common stock having an aggregate offering price of up to $ 250 million from time to time through our sales agents, or, if applicable, as forward sellers. During the three months and year ended December 31, 2024, we issued 1.9 million shares of our common stock at a gross weighted average price of $ 39.23 under this ATM program for net proceeds of $ 72.1 million, after approximately $ 0.7 million in commissions. As of December 31, 2024, approximately $ 177 million of common stock remained available for issuance under the current ATM program. </context> | us-gaap:PaymentsOfStockIssuanceCosts |
In February 2024, we entered into a new sales agreement relating to the potential sale of shares of common stock pursuant to a continuous offering program, which replaced the previous agreement. In accordance with the terms of the sales agreement, we may offer and sell shares of our common stock having an aggregate offering price of up to $ 250 million from time to time through our sales agents, or, if applicable, as forward sellers. During the three months and year ended December 31, 2024, we issued 1.9 million shares of our common stock at a gross weighted average price of $ 39.23 under this ATM program for net proceeds of $ 72.1 million, after approximately $ 0.7 million in commissions. As of December 31, 2024, approximately $ 177 million of common stock remained available for issuance under the current ATM program. | text | 177 | monetaryItemType | text: <entity> 177 </entity> <entity type> monetaryItemType </entity type> <context> In February 2024, we entered into a new sales agreement relating to the potential sale of shares of common stock pursuant to a continuous offering program, which replaced the previous agreement. In accordance with the terms of the sales agreement, we may offer and sell shares of our common stock having an aggregate offering price of up to $ 250 million from time to time through our sales agents, or, if applicable, as forward sellers. During the three months and year ended December 31, 2024, we issued 1.9 million shares of our common stock at a gross weighted average price of $ 39.23 under this ATM program for net proceeds of $ 72.1 million, after approximately $ 0.7 million in commissions. As of December 31, 2024, approximately $ 177 million of common stock remained available for issuance under the current ATM program. </context> | us-gaap:CommonStockSharesSubscriptions |
On May 5, 2022, we filed Articles Supplementary to our charter with the Maryland State Department of Assessments and Taxation in order to reclassify and designate all of the 350 million authorized shares of our Class B common stock, $ 0.01 par value per share, all of which were unissued at such time, as shares of our common stock, $ 0.01 par value per share. We no longer have Class B common stock authorized for issue. | text | 350 | sharesItemType | text: <entity> 350 </entity> <entity type> sharesItemType </entity type> <context> On May 5, 2022, we filed Articles Supplementary to our charter with the Maryland State Department of Assessments and Taxation in order to reclassify and designate all of the 350 million authorized shares of our Class B common stock, $ 0.01 par value per share, all of which were unissued at such time, as shares of our common stock, $ 0.01 par value per share. We no longer have Class B common stock authorized for issue. </context> | us-gaap:CommonStockSharesAuthorized |
On May 5, 2022, we filed Articles Supplementary to our charter with the Maryland State Department of Assessments and Taxation in order to reclassify and designate all of the 350 million authorized shares of our Class B common stock, $ 0.01 par value per share, all of which were unissued at such time, as shares of our common stock, $ 0.01 par value per share. We no longer have Class B common stock authorized for issue. | text | 0.01 | perShareItemType | text: <entity> 0.01 </entity> <entity type> perShareItemType </entity type> <context> On May 5, 2022, we filed Articles Supplementary to our charter with the Maryland State Department of Assessments and Taxation in order to reclassify and designate all of the 350 million authorized shares of our Class B common stock, $ 0.01 par value per share, all of which were unissued at such time, as shares of our common stock, $ 0.01 par value per share. We no longer have Class B common stock authorized for issue. </context> | us-gaap:CommonStockParOrStatedValuePerShare |
—In 2024, we declared and paid monthly distributions of $ 0.0975 per common share and OP unit, or $ 1.17 annualized, for each month beginning January 2024 through August 2024. In September 2024, the Board authorized a 5.1 % increase of our monthly distribution rate to $ 0.1025 per common share and OP unit. We declared and paid monthly distributions of $ 0.1025 per common share and OP unit, or $ 1.23 annualized, for each month beginning September 2024 through December 2024. Distributions paid to stockholders and OP unit holders of record subsequent to December 31, 2024 were as follows (dollars in thousands, excluding per share amounts): | text | 1.17 | perShareItemType | text: <entity> 1.17 </entity> <entity type> perShareItemType </entity type> <context> —In 2024, we declared and paid monthly distributions of $ 0.0975 per common share and OP unit, or $ 1.17 annualized, for each month beginning January 2024 through August 2024. In September 2024, the Board authorized a 5.1 % increase of our monthly distribution rate to $ 0.1025 per common share and OP unit. We declared and paid monthly distributions of $ 0.1025 per common share and OP unit, or $ 1.23 annualized, for each month beginning September 2024 through December 2024. Distributions paid to stockholders and OP unit holders of record subsequent to December 31, 2024 were as follows (dollars in thousands, excluding per share amounts): </context> | us-gaap:CommonStockDividendsPerShareDeclared |
—In 2024, we declared and paid monthly distributions of $ 0.0975 per common share and OP unit, or $ 1.17 annualized, for each month beginning January 2024 through August 2024. In September 2024, the Board authorized a 5.1 % increase of our monthly distribution rate to $ 0.1025 per common share and OP unit. We declared and paid monthly distributions of $ 0.1025 per common share and OP unit, or $ 1.23 annualized, for each month beginning September 2024 through December 2024. Distributions paid to stockholders and OP unit holders of record subsequent to December 31, 2024 were as follows (dollars in thousands, excluding per share amounts): | text | 0.1025 | perShareItemType | text: <entity> 0.1025 </entity> <entity type> perShareItemType </entity type> <context> —In 2024, we declared and paid monthly distributions of $ 0.0975 per common share and OP unit, or $ 1.17 annualized, for each month beginning January 2024 through August 2024. In September 2024, the Board authorized a 5.1 % increase of our monthly distribution rate to $ 0.1025 per common share and OP unit. We declared and paid monthly distributions of $ 0.1025 per common share and OP unit, or $ 1.23 annualized, for each month beginning September 2024 through December 2024. Distributions paid to stockholders and OP unit holders of record subsequent to December 31, 2024 were as follows (dollars in thousands, excluding per share amounts): </context> | us-gaap:CommonStockDividendsPerShareDeclared |
—In 2024, we declared and paid monthly distributions of $ 0.0975 per common share and OP unit, or $ 1.17 annualized, for each month beginning January 2024 through August 2024. In September 2024, the Board authorized a 5.1 % increase of our monthly distribution rate to $ 0.1025 per common share and OP unit. We declared and paid monthly distributions of $ 0.1025 per common share and OP unit, or $ 1.23 annualized, for each month beginning September 2024 through December 2024. Distributions paid to stockholders and OP unit holders of record subsequent to December 31, 2024 were as follows (dollars in thousands, excluding per share amounts): | text | 1.23 | perShareItemType | text: <entity> 1.23 </entity> <entity type> perShareItemType </entity type> <context> —In 2024, we declared and paid monthly distributions of $ 0.0975 per common share and OP unit, or $ 1.17 annualized, for each month beginning January 2024 through August 2024. In September 2024, the Board authorized a 5.1 % increase of our monthly distribution rate to $ 0.1025 per common share and OP unit. We declared and paid monthly distributions of $ 0.1025 per common share and OP unit, or $ 1.23 annualized, for each month beginning September 2024 through December 2024. Distributions paid to stockholders and OP unit holders of record subsequent to December 31, 2024 were as follows (dollars in thousands, excluding per share amounts): </context> | us-gaap:CommonStockDividendsPerShareDeclared |
—As of December 31, 2024 and 2023, we had approximately 13.0 million and 13.8 million outstanding non-voting OP units, respectively. Additionally, certain of our outstanding restricted share and performance share awards will result in the issuance of OP units upon vesting in future periods. These are included in the outstanding unvested award totals disclosed in Note 13. | text | 13.0 | sharesItemType | text: <entity> 13.0 </entity> <entity type> sharesItemType </entity type> <context> —As of December 31, 2024 and 2023, we had approximately 13.0 million and 13.8 million outstanding non-voting OP units, respectively. Additionally, certain of our outstanding restricted share and performance share awards will result in the issuance of OP units upon vesting in future periods. These are included in the outstanding unvested award totals disclosed in Note 13. </context> | us-gaap:LimitedPartnersCapitalAccountUnitsOutstanding |
—As of December 31, 2024 and 2023, we had approximately 13.0 million and 13.8 million outstanding non-voting OP units, respectively. Additionally, certain of our outstanding restricted share and performance share awards will result in the issuance of OP units upon vesting in future periods. These are included in the outstanding unvested award totals disclosed in Note 13. | text | 13.8 | sharesItemType | text: <entity> 13.8 </entity> <entity type> sharesItemType </entity type> <context> —As of December 31, 2024 and 2023, we had approximately 13.0 million and 13.8 million outstanding non-voting OP units, respectively. Additionally, certain of our outstanding restricted share and performance share awards will result in the issuance of OP units upon vesting in future periods. These are included in the outstanding unvested award totals disclosed in Note 13. </context> | us-gaap:LimitedPartnersCapitalAccountUnitsOutstanding |
On January 18, 2022, we issued approximately 1.6 million OP units in full settlement of the earn-out liability (see Note 16). | text | 1.6 | sharesItemType | text: <entity> 1.6 </entity> <entity type> sharesItemType </entity type> <context> On January 18, 2022, we issued approximately 1.6 million OP units in full settlement of the earn-out liability (see Note 16). </context> | us-gaap:BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued |
—In connection with our underwritten IPO in 2021, we issued a total of 0.5 million RSUs, inclusive of 0.3 million OP units, and restricted stock awards in the form of time-based stock compensation awards with expenses included within Other Expense, Net on our consolidated statements of operations. Included in the restricted stock awards were 24,000 RSUs granted to our independent directors. The shares have a grant price of $ 28.00 per share and, with the exception of one individual whose award was subject to accelerated vesting provisions, 50 % of the shares vested after 18 months and the remaining 50 % vested after 36 months. | text | 0.5 | sharesItemType | text: <entity> 0.5 </entity> <entity type> sharesItemType </entity type> <context> —In connection with our underwritten IPO in 2021, we issued a total of 0.5 million RSUs, inclusive of 0.3 million OP units, and restricted stock awards in the form of time-based stock compensation awards with expenses included within Other Expense, Net on our consolidated statements of operations. Included in the restricted stock awards were 24,000 RSUs granted to our independent directors. The shares have a grant price of $ 28.00 per share and, with the exception of one individual whose award was subject to accelerated vesting provisions, 50 % of the shares vested after 18 months and the remaining 50 % vested after 36 months. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted |
—In connection with our underwritten IPO in 2021, we issued a total of 0.5 million RSUs, inclusive of 0.3 million OP units, and restricted stock awards in the form of time-based stock compensation awards with expenses included within Other Expense, Net on our consolidated statements of operations. Included in the restricted stock awards were 24,000 RSUs granted to our independent directors. The shares have a grant price of $ 28.00 per share and, with the exception of one individual whose award was subject to accelerated vesting provisions, 50 % of the shares vested after 18 months and the remaining 50 % vested after 36 months. | text | 0.3 | sharesItemType | text: <entity> 0.3 </entity> <entity type> sharesItemType </entity type> <context> —In connection with our underwritten IPO in 2021, we issued a total of 0.5 million RSUs, inclusive of 0.3 million OP units, and restricted stock awards in the form of time-based stock compensation awards with expenses included within Other Expense, Net on our consolidated statements of operations. Included in the restricted stock awards were 24,000 RSUs granted to our independent directors. The shares have a grant price of $ 28.00 per share and, with the exception of one individual whose award was subject to accelerated vesting provisions, 50 % of the shares vested after 18 months and the remaining 50 % vested after 36 months. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted |
—In connection with our underwritten IPO in 2021, we issued a total of 0.5 million RSUs, inclusive of 0.3 million OP units, and restricted stock awards in the form of time-based stock compensation awards with expenses included within Other Expense, Net on our consolidated statements of operations. Included in the restricted stock awards were 24,000 RSUs granted to our independent directors. The shares have a grant price of $ 28.00 per share and, with the exception of one individual whose award was subject to accelerated vesting provisions, 50 % of the shares vested after 18 months and the remaining 50 % vested after 36 months. | text | 24000 | sharesItemType | text: <entity> 24000 </entity> <entity type> sharesItemType </entity type> <context> —In connection with our underwritten IPO in 2021, we issued a total of 0.5 million RSUs, inclusive of 0.3 million OP units, and restricted stock awards in the form of time-based stock compensation awards with expenses included within Other Expense, Net on our consolidated statements of operations. Included in the restricted stock awards were 24,000 RSUs granted to our independent directors. The shares have a grant price of $ 28.00 per share and, with the exception of one individual whose award was subject to accelerated vesting provisions, 50 % of the shares vested after 18 months and the remaining 50 % vested after 36 months. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted |
—In connection with our underwritten IPO in 2021, we issued a total of 0.5 million RSUs, inclusive of 0.3 million OP units, and restricted stock awards in the form of time-based stock compensation awards with expenses included within Other Expense, Net on our consolidated statements of operations. Included in the restricted stock awards were 24,000 RSUs granted to our independent directors. The shares have a grant price of $ 28.00 per share and, with the exception of one individual whose award was subject to accelerated vesting provisions, 50 % of the shares vested after 18 months and the remaining 50 % vested after 36 months. | text | 28.00 | perShareItemType | text: <entity> 28.00 </entity> <entity type> perShareItemType </entity type> <context> —In connection with our underwritten IPO in 2021, we issued a total of 0.5 million RSUs, inclusive of 0.3 million OP units, and restricted stock awards in the form of time-based stock compensation awards with expenses included within Other Expense, Net on our consolidated statements of operations. Included in the restricted stock awards were 24,000 RSUs granted to our independent directors. The shares have a grant price of $ 28.00 per share and, with the exception of one individual whose award was subject to accelerated vesting provisions, 50 % of the shares vested after 18 months and the remaining 50 % vested after 36 months. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue |
—In connection with our underwritten IPO in 2021, we issued a total of 0.5 million RSUs, inclusive of 0.3 million OP units, and restricted stock awards in the form of time-based stock compensation awards with expenses included within Other Expense, Net on our consolidated statements of operations. Included in the restricted stock awards were 24,000 RSUs granted to our independent directors. The shares have a grant price of $ 28.00 per share and, with the exception of one individual whose award was subject to accelerated vesting provisions, 50 % of the shares vested after 18 months and the remaining 50 % vested after 36 months. | text | 50 | percentItemType | text: <entity> 50 </entity> <entity type> percentItemType </entity type> <context> —In connection with our underwritten IPO in 2021, we issued a total of 0.5 million RSUs, inclusive of 0.3 million OP units, and restricted stock awards in the form of time-based stock compensation awards with expenses included within Other Expense, Net on our consolidated statements of operations. Included in the restricted stock awards were 24,000 RSUs granted to our independent directors. The shares have a grant price of $ 28.00 per share and, with the exception of one individual whose award was subject to accelerated vesting provisions, 50 % of the shares vested after 18 months and the remaining 50 % vested after 36 months. </context> | us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage |
The Board approves restricted stock awards pursuant to our 2020 Incentive Plan. The awards are granted to our independent directors as service-based awards. As of December 31, 2024 and 2023, there were approximately 24,000 and 27,000 outstanding unvested awards granted to independent directors, respectively, in connection with the 2020 Incentive Plan. | text | 24000 | sharesItemType | text: <entity> 24000 </entity> <entity type> sharesItemType </entity type> <context> The Board approves restricted stock awards pursuant to our 2020 Incentive Plan. The awards are granted to our independent directors as service-based awards. As of December 31, 2024 and 2023, there were approximately 24,000 and 27,000 outstanding unvested awards granted to independent directors, respectively, in connection with the 2020 Incentive Plan. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber |
The Board approves restricted stock awards pursuant to our 2020 Incentive Plan. The awards are granted to our independent directors as service-based awards. As of December 31, 2024 and 2023, there were approximately 24,000 and 27,000 outstanding unvested awards granted to independent directors, respectively, in connection with the 2020 Incentive Plan. | text | 27000 | sharesItemType | text: <entity> 27000 </entity> <entity type> sharesItemType </entity type> <context> The Board approves restricted stock awards pursuant to our 2020 Incentive Plan. The awards are granted to our independent directors as service-based awards. As of December 31, 2024 and 2023, there were approximately 24,000 and 27,000 outstanding unvested awards granted to independent directors, respectively, in connection with the 2020 Incentive Plan. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber |
The maximum number of award units that could be issued under all outstanding grants was 1.1 million as of December 31, 2024. The number of award units expected to vest was 0.9 million as of December 31, 2024. | text | 1.1 | sharesItemType | text: <entity> 1.1 </entity> <entity type> sharesItemType </entity type> <context> The maximum number of award units that could be issued under all outstanding grants was 1.1 million as of December 31, 2024. The number of award units expected to vest was 0.9 million as of December 31, 2024. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized |
The expense for all stock-based awards during the years ended December 31, 2024, 2023, and 2022 was $ 10.3 million, $ 9.4 million, and $ 14.9 million, respectively. We had $ 11.8 million of unrecognized compensation costs related to these awards that we expect to recognize over a weighted average period of approximately two years . The fair value at the vesting date for stock-based awards that vested during the year ended December 31, 2024 was $ 18.0 million. | text | 10.3 | monetaryItemType | text: <entity> 10.3 </entity> <entity type> monetaryItemType </entity type> <context> The expense for all stock-based awards during the years ended December 31, 2024, 2023, and 2022 was $ 10.3 million, $ 9.4 million, and $ 14.9 million, respectively. We had $ 11.8 million of unrecognized compensation costs related to these awards that we expect to recognize over a weighted average period of approximately two years . The fair value at the vesting date for stock-based awards that vested during the year ended December 31, 2024 was $ 18.0 million. </context> | us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1 |
The expense for all stock-based awards during the years ended December 31, 2024, 2023, and 2022 was $ 10.3 million, $ 9.4 million, and $ 14.9 million, respectively. We had $ 11.8 million of unrecognized compensation costs related to these awards that we expect to recognize over a weighted average period of approximately two years . The fair value at the vesting date for stock-based awards that vested during the year ended December 31, 2024 was $ 18.0 million. | text | 9.4 | monetaryItemType | text: <entity> 9.4 </entity> <entity type> monetaryItemType </entity type> <context> The expense for all stock-based awards during the years ended December 31, 2024, 2023, and 2022 was $ 10.3 million, $ 9.4 million, and $ 14.9 million, respectively. We had $ 11.8 million of unrecognized compensation costs related to these awards that we expect to recognize over a weighted average period of approximately two years . The fair value at the vesting date for stock-based awards that vested during the year ended December 31, 2024 was $ 18.0 million. </context> | us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1 |
The expense for all stock-based awards during the years ended December 31, 2024, 2023, and 2022 was $ 10.3 million, $ 9.4 million, and $ 14.9 million, respectively. We had $ 11.8 million of unrecognized compensation costs related to these awards that we expect to recognize over a weighted average period of approximately two years . The fair value at the vesting date for stock-based awards that vested during the year ended December 31, 2024 was $ 18.0 million. | text | 14.9 | monetaryItemType | text: <entity> 14.9 </entity> <entity type> monetaryItemType </entity type> <context> The expense for all stock-based awards during the years ended December 31, 2024, 2023, and 2022 was $ 10.3 million, $ 9.4 million, and $ 14.9 million, respectively. We had $ 11.8 million of unrecognized compensation costs related to these awards that we expect to recognize over a weighted average period of approximately two years . The fair value at the vesting date for stock-based awards that vested during the year ended December 31, 2024 was $ 18.0 million. </context> | us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1 |
The expense for all stock-based awards during the years ended December 31, 2024, 2023, and 2022 was $ 10.3 million, $ 9.4 million, and $ 14.9 million, respectively. We had $ 11.8 million of unrecognized compensation costs related to these awards that we expect to recognize over a weighted average period of approximately two years . The fair value at the vesting date for stock-based awards that vested during the year ended December 31, 2024 was $ 18.0 million. | text | 11.8 | monetaryItemType | text: <entity> 11.8 </entity> <entity type> monetaryItemType </entity type> <context> The expense for all stock-based awards during the years ended December 31, 2024, 2023, and 2022 was $ 10.3 million, $ 9.4 million, and $ 14.9 million, respectively. We had $ 11.8 million of unrecognized compensation costs related to these awards that we expect to recognize over a weighted average period of approximately two years . The fair value at the vesting date for stock-based awards that vested during the year ended December 31, 2024 was $ 18.0 million. </context> | us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions |
The expense for all stock-based awards during the years ended December 31, 2024, 2023, and 2022 was $ 10.3 million, $ 9.4 million, and $ 14.9 million, respectively. We had $ 11.8 million of unrecognized compensation costs related to these awards that we expect to recognize over a weighted average period of approximately two years . The fair value at the vesting date for stock-based awards that vested during the year ended December 31, 2024 was $ 18.0 million. | text | 18.0 | monetaryItemType | text: <entity> 18.0 </entity> <entity type> monetaryItemType </entity type> <context> The expense for all stock-based awards during the years ended December 31, 2024, 2023, and 2022 was $ 10.3 million, $ 9.4 million, and $ 14.9 million, respectively. We had $ 11.8 million of unrecognized compensation costs related to these awards that we expect to recognize over a weighted average period of approximately two years . The fair value at the vesting date for stock-based awards that vested during the year ended December 31, 2024 was $ 18.0 million. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue |
—We sponsor a 401(k) plan that provides benefits for qualified employees. Our match of the employee contributions is discretionary and has a five-year vesting schedule. The cash contributions to the plan for the years ended December 31, 2024, 2023, and 2022 were approximately $ 1.1 million, $ 1.1 million, and $ 1.0 million, respectively. All employees who have attained the age of 21 are eligible to participate starting the first day of the month following their date of hire. Employees are vested immediately with respect to employee contributions. | text | 1.1 | monetaryItemType | text: <entity> 1.1 </entity> <entity type> monetaryItemType </entity type> <context> —We sponsor a 401(k) plan that provides benefits for qualified employees. Our match of the employee contributions is discretionary and has a five-year vesting schedule. The cash contributions to the plan for the years ended December 31, 2024, 2023, and 2022 were approximately $ 1.1 million, $ 1.1 million, and $ 1.0 million, respectively. All employees who have attained the age of 21 are eligible to participate starting the first day of the month following their date of hire. Employees are vested immediately with respect to employee contributions. </context> | us-gaap:DefinedContributionPlanEmployerDiscretionaryContributionAmount |
—We sponsor a 401(k) plan that provides benefits for qualified employees. Our match of the employee contributions is discretionary and has a five-year vesting schedule. The cash contributions to the plan for the years ended December 31, 2024, 2023, and 2022 were approximately $ 1.1 million, $ 1.1 million, and $ 1.0 million, respectively. All employees who have attained the age of 21 are eligible to participate starting the first day of the month following their date of hire. Employees are vested immediately with respect to employee contributions. | text | 1.0 | monetaryItemType | text: <entity> 1.0 </entity> <entity type> monetaryItemType </entity type> <context> —We sponsor a 401(k) plan that provides benefits for qualified employees. Our match of the employee contributions is discretionary and has a five-year vesting schedule. The cash contributions to the plan for the years ended December 31, 2024, 2023, and 2022 were approximately $ 1.1 million, $ 1.1 million, and $ 1.0 million, respectively. All employees who have attained the age of 21 are eligible to participate starting the first day of the month following their date of hire. Employees are vested immediately with respect to employee contributions. </context> | us-gaap:DefinedContributionPlanEmployerDiscretionaryContributionAmount |
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