2 unchanged sentences
Our exposure to a change in interest rates is summarized in the table below.
−Removed: (Amounts in thousands, except per share amounts) March 31, Balance Weighted
+Added: (Amounts in thousands, except per share amounts) June 30, Balance Weighted
Interest Rate Effect of 1%
7 unchanged sentences
We have an interest rate cap relating to the mortgage loan on Rego Park II shopping center with a notional amount of $200,561,000 that caps SOFR at 4.15% through December 2025.
−Removed: We have an interest rate swap relating to the mortgage loan on the retail condominium of our 731 Lexington Avenue property with a notional amount of $300,000,000 that swaps SOFR plus 1.51% for a fixed rate of 1.76% through May 2025.
Fair Value of Debt
The fair value of our consolidated debt is calculated by discounting the future contractual cash flows of these instruments using current risk-adjusted rates available to borrowers with similar credit ratings, which are provided by a third-party specialist.
−Removed: As of March 31, 2025 and December 31, 2024, the estimated fair value of our consolidated debt was $ 972,192,000 and $ 967,941,000 , respectively.
+Added: As of June 30, 2025 and December 31, 2024, the estimated fair value of our consolidated debt was $981,633,000 and $967,941,000, respectively.
Our fair value estimates, which are made at the end of the reporting period, may be different from the amounts that may ultimately be realized upon the disposition of our financial instruments.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.