5 unchanged sentences
As of December 31, 2025, we had $154.9 million of variable-rate borrowings under our lines of credit.
−Removed: We estimate that an increase in 30-day SOFR of 100 basis points with constant risk spreads would result in a $474,000 reduction to our net income (loss) on an annual basis.
+Added: We estimate that an increase in 30-day SOFR of 100 basis points with constant risk spreads would result in a $1.5 million reduction to our net income (loss) on an annual basis.
We estimate that a decrease in 30-day SOFR of 100 basis points would increase our net income (loss) by a similar amount.
−Removed: Mortgage loan indebtedness, excluding net debt premiums and discounts and the FMCF, increased by $28.1 million as of December 31, 2024, compared to December 31, 2023, primarily due to the assumption of a mortgage loan in connection with a 2024 acquisition, offset by principal payments on mortgages.
+Added: Mortgage loan indebtedness, excluding net debt premiums and discounts and the FMCF, decreased by $20.3 million as of December 31, 2025, compared to December 31, 2024, primarily due to mortgage payoffs and principal payments, offset by the assumption of mortgage loans in connection with a 2025 acquisition.
As of December 31, 2025 and 2024, all of our mortgage debt, $400.1 million and $420.4 million, respectively, was at fixed rates of interest with staggered maturities.
−Removed: As of December 31,
−Removed: 2024, the weighted average rate of interest on our mortgage debt was 4.02%, compared to 4.05% on December 31, 2023.
+Added: As of December 31, 2025, the weighted average rate of interest on our mortgage debt was 3.88%, compared to 4.02% on December 31, 2024.
Even though our goal is to maintain a fairly low exposure to interest rate risk, we may become vulnerable to significant fluctuations in interest rates on any future repricing or refinancing of our fixed or variable rate debt or future debt.
17 unchanged sentences
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.