4 unchanged sentences
As of December 31, 2023, our indebtedness was approximately $242.0 million, consisting of approximately $209.0 million of variable-rate debt and approximately $33.0 million of fixed-rate debt.
−Removed: The $165.0 million variable-rate debt, all of which relate to the Term Loans, have been fixed through
−Removed: the Interest Rate Swaps.
−Removed: When factoring in the Term Loans as fixed-rate debt through the Interest Rate Swaps, as of December 31, 2022, none of our indebtedness was variable-rate debt, as the entire 2021 Revolving Credit Facility was undrawn.
+Added: Of the $209.0 million variable-rate debt, $200.0 million relates to the Term Loans, which have 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 December 31, 2023, approximately $9.0 million of our indebtedness was variable-rate debt and approximately $233.0 million was fixed-rate debt.
+Added: 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 $0.1 million on an annualized basis.
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.
6 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.