| Schedule of Long-term Debt |
Long-term debt consists of the following.
| | | | | | | | | | | | | (in thousands) | March 31, 2026 | | December 31, 2025 | Fixed-rate mortgage notes payable due 2027 through 2036; weighted average interest rate of 4.91% and 4.88% as of March 31, 2026 and December 31, 2025, respectively | $ | 2,875,940 | | | $ | 2,897,275 | | Variable-rate mortgage notes payable due 2027 through 2031; weighted average interest rate of 6.07% and 6.18% as of March 31, 2026 and December 31, 2025, respectively | 1,064,116 | | | 1,048,308 | | Convertible notes payable due October 2026; interest rate of 2.00% as of both March 31, 2026 and December 31, 2025 | 23,297 | | | 23,297 | | Convertible notes payable due October 2029; interest rate of 3.50% as of both March 31, 2026 and December 31, 2025 | 369,445 | | | 369,445 | | | | | | Notes payable for insurance premium financing due 2026; interest rate of 5.40% as of March 31, 2026 | 19,575 | | | — | | | Deferred financing costs, net | (45,388) | | | (45,828) | | | Total long-term debt | 4,306,985 | | | 4,292,497 | | | Current portion | 82,616 | | | 77,492 | | | Total long-term debt, less current portion | $ | 4,224,369 | | | $ | 4,215,005 | |
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