Quarterly report [Sections 13 or 15(d)]

Subsequent Events

v3.25.3
Subsequent Events
 9 Months Ended
Sep. 30, 2025
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
Distributions

On October 14, 2025, our Board of Directors declared the following monthly distributions for the months of October, November and December of 2025:

 
Record Date Payment Date Common Stock and Non-controlling OP Unit Distributions per Share Series E Preferred Distributions per Share Series G Preferred Distributions per Share
October 24, 2025 October 31, 2025 $ 0.10  $ 0.138021  $ 0.125 
November 17, 2025 November 26, 2025 0.10  0.138021  0.125 
December 22, 2025 December 31, 2025 0.10  0.138021  0.125 
$ 0.30  $ 0.414063  $ 0.375 

Senior Common Stock Distributions
Payable to the Holders of Record During the Month of: Payment Date Distribution per Share
October November 5, 2025 $ 0.0875 
November December 5, 2025 0.0875 
December January 5, 2026 0.0875 
$ 0.2625 

Series F Preferred Stock Distributions
Record Date Payment Date Distribution per Share
October 27, 2025 November 5, 2025 $ 0.125 
November 25, 2025 December 5, 2025 0.125 
December 29, 2025 January 5, 2026 0.125 
$ 0.375 

Financing Activity

On October 10, 2025, we amended, extended, and upsized our Credit Facility, increasing our Revolver from $155.0 million to $200.0 million (and its term to October 2029), decreasing the principal balance of Term Loan A from $160.0 million to $125.0 million (and extending its term to October 2029), increasing the principal balance of Term Loan B from $60.0 million to $143.3 million (and its term to February 2030), decreasing the principal balance of Term Loan C from $150.0 million to $131.7 million, and repaying the full principal balance of Term Loan D. The SOFR spread increased by 10 basis points, ranging from 140 to 210 basis points for the Revolver and 135 to 205 basis points for the Term Loans, depending on our leverage. We incurred fees of approximately $4.2 million in connection with amending, extending, and upsizing our Credit Facility. The Credit Facility’s new bank syndicate is comprised of KeyBank, Fifth Third Bank, The Huntington National Bank, Bank of America, Synovus Bank, PNC Bank, National Association (“PNC Bank”), Webster Bank, National Association (“Webster Bank”), and S&T Bank.

On October 30, 2025, we fully repaid one mortgage with an outstanding balance of $3.1 million collateralized by one property. This mortgage had a fixed interest rate of 4.59%.