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      "text": "Net Debt + Pref. / EBITDA⁵\n4.0x\n4.1x\n4.2x\n4.2x\n5.1x\n5.4x\n5.5x\n5.5x\n5.8x",
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      "text": "Debt Maturity Schedule – Pro Forma²,³\n$600\n$500\n$400\n$300\n$200\n$100\n$0\n2023\n2024\n2025\n2026\n2027\n2028\n2029\n$8\n$175\n$200\n$250\n$400",
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      "text": "Well-Staggered Debt Maturity Profile:\nNo term loan maturities expected until 2027²,³",
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      "text": "Low Leverage:\nNet Debt⁴ / Annualized Adjusted EBITDAre of 4.2x",
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      "text": "Access to Debt:\nSecured new 5.5-year $250 million term loan²",
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      "text": "Abundant Liquidity to Support Growth:\n$564.6 million in total PF liquidity¹",
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      "text": "1. Pro forma (PF) adjustment reflects the 5,983,711 shares of unsettled forward equity shares under the ATM program at the September 30, 2023 available net settlement price of $16.49, and includes the $100.0 million remaining available principal to\ndraw from the $250.0 million senior unsecured term loan that closed on July 3, 2023.\n2. The three-year $250 million senior unsecured delayed draw term loan includes two one-year extension options and one six-month to extend maturity to January 2029, at Company's discretion, totaling 5.5 year of available term.\n3. Company extended the existing $175 million term loan maturity to January 2026 from December 2024, with a one-year extension option to further extend maturity to January 2027.\n4. Pro forma (PF) adjustment reflects 5,983,711 shares of unsettled common stock issued through the ATM during the third quarter were settled for cash on September 30, 2023.\n5. Net Debt plus Preferred is adjusted for unsettled forward equity. As of June 30, 2023, except for NTST.",
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      "text": "Source: Company data as September 30, 2023, unless otherwise noted.",
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