Derivatives and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Key Terms and Fair Values of Our Interest Rate Swap Derivatives

The following table sets forth the key terms and fair values of our interest rate swap derivatives, each of which was designated as a cash flow hedge as of June 30, 2025. We entered into these interest rate swap derivatives to reduce our exposure to the variability in future cash flows attributable to changes in our floating rate debt (amounts in thousands):


Notional Amount		Fixed Rate			Floating Rate Index	Effective Date	Expiration Date	Fair Value
$	40,000		3.85	%	USD-SOFR with -5 Day Lookback	December 23, 2024	December 23, 2027	$	(440	)
$	30,000		3.86	%	USD-SOFR with -5 Day Lookback	December 23, 2024	December 23, 2027	$	(336	)
$	30,000		3.86	%	USD-SOFR with -5 Day Lookback	December 23, 2024	December 23, 2027	$	(338	)
$	100,000		3.72	%	USD-SOFR with -5 Day Lookback	March 24, 2025	April 1, 2028	$	(917	)
$	50,000		3.66	%	USD-SOFR with -5 Day Lookback	June 30, 2025	July 1, 2028	$	(434	)
$	50,000		3.67	%	USD-SOFR with -5 Day Lookback	June 30, 2025	July 1, 2028	$	(438	)

Schedule of Fair Value of Our Interest Rate Derivatives as Well as Their Classification on Our Consolidated Balance Sheets

The table below sets forth the fair value of our interest rate derivatives as well as their classification on our Consolidated Balance Sheets (amounts in thousands):


Balance Sheet Line Item	As of June 30, 2025
Interest rate swaps - Asset	$	—
Interest rate swaps - Liability		(2,903	)

Schedule of Effects of Our Interest Rate Derivatives on Our Consolidated Statements of Operations and Comprehensive Income (Loss)

The table below presents the effects of our interest rate derivatives on our Consolidated Statements of Operations and Comprehensive Income (Loss) (amounts in thousands):


	For the three months ended June 30,					For the six months ended June 30,
	2025			2024		2025			2024
Unrealized gain (loss) recognized in AOCI	$	(1,299	)	$	597	$	(4,746	)	$	2,529
Gain reclassified from AOCI into interest expense		357			1,028		742			2,058

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References + Details

Easterly Government Properties, Inc. 10-Q