Quarterly report [Sections 13 or 15(d)]

REVOLVING CREDIT FACILITY AND TERM LOANS (Details)

v3.25.3
REVOLVING CREDIT FACILITY AND TERM LOANS (Details)
$ in Thousands
9 Months Ended 12 Months Ended
Jul. 09, 2025
USD ($)
lender
Apr. 22, 2024
USD ($)
property
lender
extension
Sep. 30, 2025
USD ($)
Sep. 30, 2024
USD ($)
Dec. 31, 2024
USD ($)
Jul. 08, 2025
lender
Line of Credit Facility [Line Items]            
Loan balance     $ 1,400,000   $ 1,700,000  
Repayments of term loans     200,000 $ 0    
Revolving Credit Facility | Credit Agreement | Line of Credit            
Line of Credit Facility [Line Items]            
Secured debt   $ 300,000        
Number of lenders | lender   8       8
Loan balance     $ 31,000      
Effective rate (as a percent)     5.89%      
Loan period   3 years        
Number of extensions | extension   1        
Extension option period   12 months        
Number of properties with first priority lien | property   5        
Appraisal value   $ 900,000 $ 600,000      
Decrease in interest rate         0.05%  
Decrease in commitment fee percentage         0.01%  
Revolving Credit Facility | Credit Agreement | Line of Credit | Debt Covenant Period One            
Line of Credit Facility [Line Items]            
Total leverage ratio   65.00%        
Debt service coverage ratio   125.00%        
Tangible net worth ratio   80.00%        
Percentage of net cash proceeds of equity issuances   80.00%        
Percentage of maximum unhedged variable rate debt ratio   30.00%        
Revolving Credit Facility | Credit Agreement | Line of Credit | Debt Covenant Period Two            
Line of Credit Facility [Line Items]            
Total leverage ratio   60.00%        
Debt service coverage ratio   150.00%        
Tangible net worth ratio   80.00%        
Percentage of net cash proceeds of equity issuances   80.00%        
Percentage of maximum unhedged variable rate debt ratio   30.00%        
Revolving Credit Facility | Credit Agreement | Line of Credit | Alternative Base Rate            
Line of Credit Facility [Line Items]            
Interest rate, variable (as a percent)   1.00%        
Revolving Credit Facility | Credit Agreement | Line of Credit | NYFRB Rate            
Line of Credit Facility [Line Items]            
Interest rate, variable (as a percent)   0.50%        
Revolving Credit Facility | Credit Agreement | Line of Credit | Adjusted Term SOFR            
Line of Credit Facility [Line Items]            
Interest rate, variable (as a percent)   1.00%        
Revolving Credit Facility | Credit Agreement | Line of Credit | Adjusted Term SOFR Subject to Floor            
Line of Credit Facility [Line Items]            
Interest rate, variable (as a percent)   0.00%        
Revolving Credit Facility | Credit Agreement | Line of Credit | Adjusted Daily Effective SOFR            
Line of Credit Facility [Line Items]            
Interest rate, variable (as a percent)   0.00%        
Revolving Credit Facility | Credit Agreement | Line of Credit | Minimum            
Line of Credit Facility [Line Items]            
Facility fee basis points   0.25%        
Revolving Credit Facility | Credit Agreement | Line of Credit | Maximum            
Line of Credit Facility [Line Items]            
Facility fee basis points   0.35%        
Revolving Credit Facility | 2024 Credit Agreement | Line of Credit            
Line of Credit Facility [Line Items]            
Number of lenders | lender 7          
Revolving Credit Facility | 2024 Credit Agreement | Line of Credit | Minimum            
Line of Credit Facility [Line Items]            
Interest rate, variable (as a percent)   0.25%        
Revolving Credit Facility | 2024 Credit Agreement | Line of Credit | Maximum            
Line of Credit Facility [Line Items]            
Interest rate, variable (as a percent)   1.80%        
Term Loan | Credit Agreement | Line of Credit            
Line of Credit Facility [Line Items]            
Secured debt   $ 200,000        
Loan balance   $ 200,000        
Term Loan | 2024 Credit Agreement | Line of Credit            
Line of Credit Facility [Line Items]            
Repayments of term loans $ 200,000