−Removed: As of December 31, 2023, our wholly owned properties were comprised of 152 properties located in 30 states and the District of Columbia containing approximately 20.5 million rentable square feet and we had noncontrolling ownership interests of 51% and 50% in two unconsolidated joint ventures that owned three properties totaling approximately 468,000 rentable square feet.
+Added: As of December 31, 2024, our wholly owned properties were comprised of 128 properties located in 29 states and the District of Columbia containing approximately 17.8 million rentable square feet and we had a noncontrolling ownership interest of 51% in an unconsolidated joint venture that owned two properties totaling approximately 0.3 million rentable square feet.
The following table provides certain information about our wholly owned properties as of December 31, 2024 (dollars in thousands):
14 unchanged sentences
Iowa 1 10,646 9,316 3,283
−Removed: Kentucky 1 13,713 10,364 3,070
Maryland 12 243,396 191,698 29,039
19 unchanged sentences
Properties Held for Sale
−Removed: 1 29,331 26,301 11,954
+Added: Arizona 2 7,516 6,537 —
+Added: California 2 22,992 20,748 —
+Added: Michigan 1 11,227 4,420 2,352
Subtotal 5 41,735 31,705 2,352
1 unchanged sentence
(1) Excludes purchase price allocations assigned to real estate intangibles.
−Removed: As of December 31, 2023, seven of our properties with an undepreciated carrying value of $226.3 million, were encumbered by mortgages with an aggregate principal balance of $177.3 million.
−Removed: As of December 31, 2023, the three properties owned by our two unconsolidated joint ventures in which we owned 51% and 50% interests were encumbered by two mortgages totaling $82.0 million.
−Removed: In January 2024, we entered into an amended and restated credit agreement, or our credit agreement, and certain of our subsidiaries pledged all of their respective equity interests in certain of our direct and indirect property owning subsidiaries and the pledged subsidiaries provided first mortgage liens on 19 properties that had an undepreciated carrying value of $758.6 million as of December 31, 2023.
−Removed: In February 2024, we issued the 2029 Notes.
−Removed: The 2029 Notes are fully and unconditionally guaranteed on a joint, several and senior secured basis by certain of our subsidiaries
−Removed: and secured by a pledge of all of the respective equity interests of the subsidiary guarantors and first mortgage liens on 17 properties with an undepreciated carrying value of $500.3 million as of December 31, 2023.
−Removed: For more information regarding our mortgages, our two unconsolidated joint ventures, our credit agreement and the 2029 Notes, see Notes 4 and 9 to the Notes to Consolidated Financial Statements included in Part IV, Item 15 of this Annual Report on Form 10-K.
+Added: As of December 31, 2024, 99 of our properties secured an aggregate $2.0 billion of debt as detailed in the following table:
+Added: Secured Properties Number of First-Lien
+Added: Undepreciated
+Added: Carrying Value Principal Balance
+Added: Mortgage notes 7 $ 230,059 $ 177,320
+Added: Amended and restated credit agreement 19 802,865 425,000
+Added: Senior secured notes due March 2027 37 1,080,611 444,992
+Added: Senior secured notes due March 2029 17 518,269 300,000
+Added: Senior secured notes due September 2029 19 538,379 609,999
+Added: Total 99 $ 3,170,183 $ 1,957,311
+Added: In addition, as of December 31, 2024, the two properties owned by our unconsolidated joint venture in which we owned a 51% interest secured a mortgage totaling $50.0 million.
+Added: For more information regarding our secured debt and our unconsolidated joint venture, see Notes 4 and 9 to the Notes to Consolidated Financial Statements included in Part IV, Item 15 of this Annual Report on Form 10-K.
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.