v3.25.2
Debt - Summary of Debt (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Notes Payable, Unsecured Notes and Credit Facility    
Credit Facility $ 0 $ 0
Commercial paper 665,000 0
Total principal outstanding 8,714,999 8,134,429
Deferred financing costs and debt discount (54,904) (57,180)
Total $ 8,660,095 $ 8,077,249
Weighted average interest rate, debt (as a percent) 3.60% 3.50%
Unsecured notes    
Notes Payable, Unsecured Notes and Credit Facility    
Notes Payable $ 7,325,000  
Secured Debt    
Notes Payable, Unsecured Notes and Credit Facility    
Notes Payable 724,999  
Mortgage Notes Payable, Unsecured Notes, and Term Loans    
Notes Payable, Unsecured Notes and Credit Facility    
Notes Payable $ 8,049,999 $ 8,134,429
Weighted average interest rate, debt (as a percent) 3.50% 3.50%
Fixed rate unsecured notes | Unsecured notes    
Notes Payable, Unsecured Notes and Credit Facility    
Fixed rate notes $ 7,325,000 $ 7,400,000
Weighted average interest rate, debt (as a percent) 3.50% 3.40%
Fixed rate mortgage notes payable - conventional and tax-exempt | Secured Debt    
Notes Payable, Unsecured Notes and Credit Facility    
Fixed rate notes $ 332,949 $ 333,479
Weighted average interest rate, debt (as a percent) 3.90% 3.90%
Variable rate mortgage notes payable - conventional and tax-exempt | Secured Debt    
Notes Payable, Unsecured Notes and Credit Facility    
Variable rate notes $ 392,050 $ 400,950
Weighted average interest rate, debt (as a percent) 3.50% 5.20%
Credit Facility    
Notes Payable, Unsecured Notes and Credit Facility    
Commercial paper $ 665,000 $ 0
Weighted average interest rate, debt (as a percent) 0.00% 0.00%
Commercial paper    
Notes Payable, Unsecured Notes and Credit Facility    
Weighted average interest rate, debt (as a percent) 4.60% 0.00%
Variable Rate Unsecured Term Loan $450 Million | Unsecured notes    
Notes Payable, Unsecured Notes and Credit Facility    
Notes Payable $ 450,000