v3.25.4
Derivatives and Hedging Activities (Tables)
 12 Months Ended
Dec. 31, 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 December 31, 2025 and 2024:
Balance
SheetUnderlyingMaturityStrikeNotionalFair Value at
Line Item InstrumentDateRateAmountDecember 31, 2025December 31, 2024
Other assets, net
ILPT Floating Rate Loan10/15/20252.78%$1,235,000 $— $13,302 
Other assets, net
Mountain Floating Rate Loan
03/15/20253.04%$1,400,000 — 3,614 
Other assets, net
Mountain Floating Rate Loan
03/15/20263.10%$1,400,000 1,629 — 
$1,629 $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:
Year Ended December 31,
202520242023
Amount of gain recognized on derivative in other comprehensive loss$970 $7,623 $15,640 
Amount of gain reclassified from cumulative other comprehensive loss into interest expense$610 $21,548 $33,639 
Total amount of interest expense presented in the consolidated statements of comprehensive income (loss)$(264,559)$(292,536)$(288,537)