| Schedule of Long-Term Debt Instruments |
As of December 31, 2025 and 2024, our outstanding indebtedness consisted of the following: | | | | | | | | | | | | | | | | | December 31, | | | 2025 | | 2024 | | Secured revolving credit facility, due in 2027 | | $ | 325,000 | | | $ | 325,000 | | | Secured term loan, due in 2027 | | 100,000 | | | 100,000 | | Debtor-in-possession term loan, 12.000% interest rate, due in 2026 | | 10,225 | | | — | | Senior unsecured notes, 4.500% interest rate, due in 2025 (1) | | — | | | 171,586 | | Senior unsecured notes, 2.650% interest rate, due in 2026 (1) | | 133,929 | | | 140,488 | | Senior unsecured notes, 2.400% interest rate, due in 2027 (1) | | 78,306 | | | 80,784 | | Senior secured notes, 3.250% interest rate, due in 2027 (1) | | 417,994 | | | 444,992 | | Mortgage note payable, 8.272% interest rate, due in 2028 | | 42,700 | | | 42,700 | | Mortgage note payable, 8.139% interest rate, due in 2028 | | 26,340 | | | 26,340 | | Mortgage note payable, 7.671% interest rate, due in 2028 | | 54,300 | | | 54,300 | | Senior secured notes, 9.000% interest rate, due in March 2029 | | 300,000 | | | 300,000 | | Senior secured notes, 9.000% interest rate, due in September 2029 (1) | | 609,999 | | | 609,999 | | Senior unsecured notes, 8.000% interest rate, due in 2030 (1) | | 14,439 | | | — | | Senior unsecured notes, 3.450% interest rate, due in 2031 (1) | | 102,402 | | | 114,355 | | Mortgage note payable, 7.210% interest rate, due in 2033 | | 30,680 | | | 30,680 | | Mortgage note payable, 7.305% interest rate, due in 2033 | | 8,400 | | | 8,400 | | Mortgage note payable, 7.717% interest rate, due in 2033 | | 14,900 | | | 14,900 | | Senior unsecured notes, 6.375% interest rate, due in 2050 (1) | | 162,000 | | | 162,000 | | | | 2,431,614 | | | 2,626,524 | | | Unamortized debt premiums, discounts and issuance costs | | (22,988) | | | (91,890) | | | | $ | 2,408,626 | | | $ | 2,534,634 | |
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| Schedule of Senior Note Exchanges |
In March 2025, we exchanged $14,439 of the 2030 Notes for an aggregate $20,990 of our outstanding unsecured senior notes, or the Existing Notes, and such transaction, the Senior Note Exchange, as follows: | | | | | | | | | | | | | | | | Existing Notes Exchanged | | Aggregate Principal Amount of Existing Notes Accepted for Exchange | | Aggregate Principal Amount of September 2029 Notes Delivered | Existing 2.650% 2026 Notes | | $ | 6,559 | | | $ | 5,836 | | Existing 2.400% 2027 Notes | | 2,478 | | | 1,882 | | Existing 3.450% 2031 Notes | | 11,953 | | | 6,721 | | | Total | | $ | 20,990 | | | $ | 14,439 | |
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| Schedule of Required Principal Payments |
The required principal payments due during the next five years and thereafter under all our outstanding consolidated debt as of December 31, 2025 were as follows: | | | | | | | | | | Year | | Principal Payment | | 2026 | | $ | 144,154 | | | 2027 | | 921,300 | | | 2028 | | 123,487 | | | 2029 | | 910,278 | | | 2030 | | 14,739 | | | Thereafter | | 317,656 | | Total (1) | | $ | 2,431,614 | | | | |
(1)Total consolidated debt outstanding as of December 31, 2025, net of unamortized premiums, discounts and issuance costs totaling $22,988, was $2,408,626.
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