v3.26.1
Derivative Instruments (Tables)
3 Months Ended
Mar. 31, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Financial Instruments

The following table details our derivative financial instruments as of March 31, 2026 (dollars in thousands):

  

Interest Rate Derivative  Notional Amount   Strike Price   Maturity Date 
1991 Main Construction Loan interest rate cap  $130,000    5.07%   July 2026 
1000 First Construction Loan interest rate cap  $104,000    6.25%   July 2026 
Aster & Links Loans interest rate caps  $204,138    6.00%   October 2027 
Schedule of Fair Value of Our Derivative Financial Instruments

The following table details the fair value of our derivative financial instruments (amounts in thousands):

  

   Fair Value (1) 
Interest Rate Derivative  March 31, 2026   December 31, 2025 
   (unaudited)     
Interest rate caps  $56   $11 

 

 

(1)Amounts are included in Other assets in our consolidated balance sheets.
Schedule of Effect of Derivative Financial Instruments

The following table details the effect of our derivative financial instruments on our consolidated statements of operations (amounts in thousands):

 

      Three Months Ended March 31, 
Interest Rate Derivative  Location of Gain (Loss)  2026   2025 
      (unaudited)   (unaudited) 
Interest rate caps  Other income (expense)  $45   $(3)