v3.25.3
Derivatives and Hedging Activities (Tables)
 9 Months Ended
Sep. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Interest Rate Swap Derivatives
The following table summarizes the terms of our outstanding interest rate cap agreements as of September 30, 2025 and December 31, 2024:
Balance
SheetUnderlyingMaturityStrikeNotionalFair Value at
Line Item InstrumentDateRateAmountSeptember 30, 2025December 31, 2024
Other assets, net
ILPT Floating Rate Loan
10/15/20252.78%$1,235,000 $661 $13,302 
Other assets, net
Mountain Floating Rate Loan
03/15/2025
3.04%$1,400,000 — 3,614 
Other assets, net
Mountain Floating Rate Loan03/15/20263.10%$1,400,000 4,679 — 
Total$5,340 $16,916 
Schedule of Effects on Consolidated Statements of Income and Comprehensive Loss
The following table summarizes the activity related to our cash flow hedges within cumulative other comprehensive loss for the periods shown:
Three Months Ended September 30,
Nine Months Ended September 30,
2025202420252024
Amount of (loss) gain recognized on derivatives in other comprehensive loss$(44)$(3,564)$870 $5,035 
Amount of gain reclassified from cumulative other comprehensive loss into interest expense$582 $5,407 $1,240 $20,363 
Total amount of interest expense presented in the condensed consolidated statements of comprehensive income (loss)
$(63,470)$(73,936)$(201,197)$(220,797)