3 unchanged sentences
Our primary market risk results from our indebtedness, which bears interest at both fixed and variable rates.
−Removed: As of June 30, 2023 , our indebtedness was approximately $227.0 million , consisting of approximately $194.0 million of variable-rate debt and approximately $33.0 million of fixed-rate debt.
−Removed: Of the $194.0 million variable-rate debt, $50.0 million related to the 2021 Term Loan and $115.0 million related to the 2022 Term Loan as of June 30, 2023 , which had been fixed through the Interest Rate Swaps.
−Removed: When factoring in the Term Loans as fixed-rate debt through the Interest Rate Swaps, as of June 30, 2023, approximately $29.0 million of our indebtedness was variable-rate debt and approximately $198.0 million was fixed-rate debt.
−Removed: Assuming no increase in the amount of our outstanding variable-rate indebtedness, if the one-month Adjusted Term SOFR were to increase or decrease by 1.0%, our cash flows would decrease or increase by approximately $0.3 million on an annualized basis.
+Added: As of September 30, 2023 , our indebtedness was approximately $233.0 million , consisting of approximately $200.0 million of variable-rate debt and approximately $33.0 million of fixed-rate debt.
+Added: Of the $200.0 million variable-rate debt, $75.0 million related to the 2021 Term Loan and $125.0 million related to the 2022 Term Loan as of September 30, 2023 , which had all been fixed through the Interest Rate Swaps.
+Added: When factoring in the Term Loans as fixed-rate debt through the Interest Rate Swaps, as of September 30, 2023, none of our indebtedness was variable-rate debt as the entire Revolving Credit Facility was undrawn.
Subject to maintaining our status as a REIT for federal income tax purposes, we manage our market risk on variable rate debt through the use of interest rate swaps that fix the rate on all or a portion of our variable rate debt for varying periods up to maturity, such as the Interest Rate Swaps.
4 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.