v3.25.2
Mortgage Notes and Secured Credit Facilities - Summary of Mortgage Notes and Credit Facilities Secured by Company's Properties (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Jul. 31, 2024
Dec. 31, 2023
May 31, 2022
Debt Instrument [Line Items]        
Maximum Facility Size       $ 1,600,000
Principal Balance Outstanding [1],[2] $ 12,802,000   $ 13,108,216  
Deferred financing costs, net [1],[2] (51,246)   (73,066)  
Discount on assumed debt, net [1],[2] (6,167)   (6,240)  
Mortgage notes and secured credit facilities, net [1],[2] 12,744,587   13,028,910  
Senior Secured Revolving Credit Facility        
Debt Instrument [Line Items]        
Maximum Facility Size   $ 150,000    
Fixed Rate Loans        
Debt Instrument [Line Items]        
Principal Balance Outstanding [1],[2] $ 2,978,914   3,049,322  
Fixed Rate Loans | Fixed Rate Mortgages        
Debt Instrument [Line Items]        
Weighted Average Interest Rate [3] 3.09%      
Principal Balance Outstanding [1],[2] $ 2,978,914   3,049,322  
Fixed Rate Loans | Fixed Rate Mortgages | Weighted Average        
Debt Instrument [Line Items]        
Weighted Average Maturity Date [4] 2031-04      
Variable Rate Loans        
Debt Instrument [Line Items]        
Principal Balance Outstanding [1],[2] $ 9,823,086   10,058,894  
Variable Rate Loans | Variable Rate Secured Credit Facility        
Debt Instrument [Line Items]        
Maximum Facility Size [5] 164,152      
Principal Balance Outstanding [1],[2],[5] 164,152   165,000  
Variable Rate Loans | Senior Secured Revolving Credit Facility        
Debt Instrument [Line Items]        
Maximum Facility Size [6] $ 150,000      
Variable Rate Loans | Weighted Average | Variable Rate Secured Credit Facility        
Debt Instrument [Line Items]        
Debt Instrument, Basis Spread on Variable Rate [3],[5] 2.25%      
Debt instrument, interest rate description [3],[5] B + 2.25%      
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration] Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]      
Weighted Average Maturity Date [4],[5] 2025-12      
Variable Rate Loans | Weighted Average | Senior Secured Revolving Credit Facility        
Debt Instrument [Line Items]        
Debt Instrument, Basis Spread on Variable Rate [3],[6] 2.50%      
Debt instrument, interest rate description [3],[6] B + 2.50%      
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration] Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]      
Weighted Average Maturity Date [4],[6] 2027-01      
Variable Rate Loans | Floating Rate Mortgages        
Debt Instrument [Line Items]        
Principal Balance Outstanding [1],[2] $ 9,658,934   $ 9,893,894  
Variable Rate Loans | Floating Rate Mortgages | Weighted Average        
Debt Instrument [Line Items]        
Debt Instrument, Basis Spread on Variable Rate [3] 1.83%      
Debt instrument, interest rate description [3] B + 1.83%      
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration] Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]      
Weighted Average Maturity Date [4] 2027-09      
[1] Excludes a $12.6 million mortgage loan on a property classified as held-for-sale as of December 31, 2024. As of December 31, 2023, there were no properties, and their related mortgage loans, that met the criteria to be classified as held-for-sale.
[2] The majority of the Company’s mortgages contain prepayment provisions including (but not limited to) lockout periods, yield or spread maintenance provisions and fixed penalties.
[3] The symbol “B” refers to the relevant floating benchmark rates, which includes one-month SOFR, Federal Reserve Bank of New York (“NYFED”) 30 day SOFR, three-month Euro Interbank Offered Rate (“EURIBOR”) and three-month Norwegian Interbank Offered Rate (“NIBOR”), as applicable to each loan.
[4] For loans where the Company, at its own discretion, has extension options, the maximum maturity date has been assumed.
[5] The repayment of the variable rate secured credit facility is guaranteed by the Operating Partnership.
[6] The repayment of the senior secured revolving credit facility is secured by pledges of ownership interests in holding companies that are directly under the Operating Partnership.