18 unchanged sentences
Mortgage note 120,000 6.864 % 8,237 2034 Monthly
+Added: Mortgage note 7,464 6.444 % 481 2043 Monthly
$ 3,047,998 $ 126,706
3 unchanged sentences
(2) These notes require no cash interest to accrue prior to maturity and will accrete at a rate of 11.25% per annum compounded semiannually on January 15 and July 15 of each year, such that the accreted value will equal the principal amount at maturity.
+Added: We have a one-time option to extend the maturity date of these notes by one year, to January 15, 2027, subject to satisfaction of certain conditions and payment of an extension fee.
No principal repayments are due under our senior notes until maturity.
−Removed: Our mortgage notes generally require principal and interest payments through maturity pursuant to amortization schedules.
+Added: Our $120.0 million mortgage note due 2034 is a fixed rate, interest only loan and our mortgage note due 2043 requires principal and interest payments through maturity pursuant to an amortization schedule.
Because these debts require interest to be paid at a fixed rate, changes in market interest rates during the term of these debts will not affect our interest obligations.
2 unchanged sentences
increases in market interest rates decrease the fair value of our fixed rate debt, while decreases in market interest rates increase the fair value of our fixed rate debt.
−Removed: In response to significant and prolonged increases in inflation, the U.S.
−Removed: Federal Reserve has raised interest rates multiple times since the beginning of 2022.
−Removed: Although the U.S.
−Removed: Federal Reserve has indicated that it may lower interest rates in 2024, we cannot be sure that it will do so, and interest rates may remain at the current high levels or continue to increase.
+Added: In response to significant increases in inflation, the U.S.
+Added: Federal Reserve raised interest rates multiple times during 2022 and 2023.
+Added: Federal Reserve cut interest rates three times in late 2024, and it may further reduce interest rates, increase interest rates or maintain current interest rates.
Our debt agreements contain provisions that allow us to make repayments earlier than the stated maturity date.
4 unchanged sentences
At December 31, 2024 and February 21, 2025, we did not have any floating rate debt obligations.
−Removed: In December 2023, we repaid all amounts outstanding under our then secured credit facility and terminated the agreement governing such credit facility.
Financial Statements and Supplementary Data.
2 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.