v3.25.2
Debt (Tables)
 6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Schedule of Debt
The following table summarizes our total non-recourse indebtedness (in thousands):
June 30, 2025December 31, 2024
Fixed-rate property debt due July 2025 to January 2055 (1)
$1,952,651 $2,144,797 
Variable-rate property debt due July 2029 to June 2030 (2)
3,983,833 4,140,409 
Total non-recourse property debt5,936,484 6,285,206 
Debt issuance costs, net of accumulated amortization(31,197)(43,337)
Total non-recourse property debt, net$5,905,287 $6,241,869 
(1)The stated rates on our fixed-rate property debt are between 2.7% to 7.1%.
(2)As of June 30, 2025, all $4.0 billion of our floating rate debt is economically hedged through interest rate swaps and caps.