v3.26.1
SECURED AND UNSECURED DEBT, NET - Summary (Details)
$ in Thousands
6 Months Ended
Jun. 30, 2026
USD ($)
community
Dec. 31, 2025
USD ($)
Secured debt instruments    
Total Debt, net $ 5,813,832 $ 5,821,369
Long-term Debt $ 5,827,122  
Weighted average interest rate (as a percent) 3.38%  
Weighted Average    
Secured debt instruments    
Years to maturity 3 years 10 months 24 days  
Secured Debt    
Secured debt instruments    
Total Debt, net $ 933,063 961,180
Long-term Debt $ 936,154  
Weighted average interest rate (as a percent) 3.49%  
Number of Communities Encumbered | community 17  
Secured Debt | Weighted Average    
Secured debt instruments    
Years to maturity 3 years 3 months 18 days  
Unsecured Debt    
Secured debt instruments    
Total Debt, net $ 4,880,769 4,860,189
Long-term Debt $ 4,890,968  
Weighted average interest rate (as a percent) 3.36%  
Deferred finance costs $ (15,982) (17,838)
Unsecured Debt | Weighted Average    
Secured debt instruments    
Years to maturity 4 years  
Fixed Rate Debt | Secured Debt    
Secured debt instruments    
Total Debt, net $ 906,103 934,223
Weighted average interest rate (as a percent) 3.51%  
Number of Communities Encumbered | community 16  
Fixed Rate Debt | Secured Debt | Weighted Average    
Secured debt instruments    
Years to maturity 3 years 2 months 12 days  
Variable Rate Debt | Secured Debt    
Secured debt instruments    
Total Debt, net $ 26,960 26,957
Weighted average interest rate (as a percent) 2.59%  
Number of Communities Encumbered | community 1  
Variable Rate Debt | Secured Debt | Weighted Average    
Secured debt instruments    
Years to maturity 5 years 8 months 12 days  
Mortgages loans | Fixed Rate Debt | Secured Debt    
Secured debt instruments    
Deferred financing costs and other non-cash adjustments $ (3,051) (3,252)
Long-term Debt $ 909,154 937,475
Weighted average interest rate (as a percent) 3.46%  
Number of Communities Encumbered | community 16  
Mortgages loans | Fixed Rate Debt | Secured Debt | Weighted Average    
Secured debt instruments    
Years to maturity 3 years 2 months 12 days  
Tax-exempt secured notes payable | Variable Rate Debt | Secured Debt    
Secured debt instruments    
Long-term Debt $ 27,000 27,000
Weighted average interest rate (as a percent) 2.56%  
Number of Communities Encumbered | community 1  
Deferred finance costs $ (40) (43)
Tax-exempt secured notes payable | Variable Rate Debt | Secured Debt | Weighted Average    
Secured debt instruments    
Years to maturity 5 years 8 months 12 days  
Borrowings outstanding under unsecured credit facility due August 2028 | Variable Rate Debt | Unsecured Debt    
Secured debt instruments    
Weighted average interest rate (as a percent) 4.41%  
Borrowings outstanding under unsecured credit facility due August 2028 | Variable Rate Debt | Unsecured Debt | Weighted Average    
Secured debt instruments    
Years to maturity 2 years 2 months 12 days  
Commercial Paper | Variable Rate Debt | Unsecured Debt    
Secured debt instruments    
Borrowings outstanding $ 480,000 445,000
Weighted average interest rate (as a percent) 4.01%  
Commercial Paper | Variable Rate Debt | Unsecured Debt | Weighted Average    
Secured debt instruments    
Years to maturity 1 month 6 days  
Working Capital Credit Facility | Variable Rate Debt | Unsecured Debt    
Secured debt instruments    
Borrowings outstanding $ 10,968 26,381
Weighted average interest rate (as a percent) 4.40%  
Working Capital Credit Facility | Variable Rate Debt | Unsecured Debt | Weighted Average    
Secured debt instruments    
Years to maturity 6 months  
Term Loan due January 2029 | Fixed Rate Debt | Unsecured Debt    
Secured debt instruments    
Long-term Debt $ 175,000 175,000
Weighted average interest rate (as a percent) 4.04%  
Term Loan due January 2029 | Fixed Rate Debt | Unsecured Debt | Weighted Average    
Secured debt instruments    
Years to maturity 2 years 7 months 6 days  
Term Loan due January 2029 | Variable Rate Debt | Unsecured Debt    
Secured debt instruments    
Long-term Debt $ 175,000 175,000
Weighted average interest rate (as a percent) 4.47%  
Term Loan due January 2029 | Variable Rate Debt | Unsecured Debt | Weighted Average    
Secured debt instruments    
Years to maturity 2 years 7 months 6 days  
2.95% Medium-Term Note due September 2026 | Fixed Rate Debt | Unsecured Debt    
Secured debt instruments    
Long-term Debt $ 300,000 $ 300,000
Stated interest rate 2.95% 2.95%
Weighted average interest rate (as a percent) 2.95%  
2.95% Medium-Term Note due September 2026 | Fixed Rate Debt | Unsecured Debt | Weighted Average    
Secured debt instruments    
Years to maturity 2 months 12 days  
3.50% Medium-Term Note due July 2027 | Fixed Rate Debt | Unsecured Debt    
Secured debt instruments    
Total Debt, net $ 299,929 $ 299,894
Stated interest rate 3.50% 3.50%
Unamortized discount $ 71 $ 106
Weighted average interest rate (as a percent) 3.50%  
3.50% Medium-Term Note due July 2027 | Fixed Rate Debt | Unsecured Debt | Weighted Average    
Secured debt instruments    
Years to maturity 1 year  
3.50% Medium-Term Notes Due January 2028 | Fixed Rate Debt | Unsecured Debt    
Secured debt instruments    
Total Debt, net $ 299,817 $ 299,758
Stated interest rate 3.50% 3.50%
Unamortized discount $ 183 $ 242
Weighted average interest rate (as a percent) 3.50%  
3.50% Medium-Term Notes Due January 2028 | Fixed Rate Debt | Unsecured Debt | Weighted Average    
Secured debt instruments    
Years to maturity 1 year 6 months  
4.40% Medium-Term Notes due January 2029 | Fixed Rate Debt | Unsecured Debt    
Secured debt instruments    
Total Debt, net $ 299,998 $ 299,998
Stated interest rate 4.40% 4.40%
Unamortized discount $ 2 $ 2
Weighted average interest rate (as a percent) 4.27%  
4.40% Medium-Term Notes due January 2029 | Fixed Rate Debt | Unsecured Debt | Weighted Average    
Secured debt instruments    
Years to maturity 2 years 7 months 6 days  
3.20% Medium-Term Notes due January 2030 | Fixed Rate Debt | Unsecured Debt    
Secured debt instruments    
Total Debt, net $ 604,862 $ 605,548
Stated interest rate 3.20% 3.20%
Unamortized net premium $ 4,862 $ 5,548
Weighted average interest rate (as a percent) 3.32%  
3.20% Medium-Term Notes due January 2030 | Fixed Rate Debt | Unsecured Debt | Weighted Average    
Secured debt instruments    
Years to maturity 3 years 6 months  
3.00% Medium-Term Notes due August 2031    
Secured debt instruments    
Long-term Debt $ 600,000  
3.00% Medium-Term Notes due August 2031 | Fixed Rate Debt | Unsecured Debt    
Secured debt instruments    
Total Debt, net $ 606,122 $ 606,720
Stated interest rate 3.00% 3.00%
Unamortized net premium $ 6,122 $ 6,720
Weighted average interest rate (as a percent) 3.01%  
3.00% Medium-Term Notes due August 2031 | Fixed Rate Debt | Unsecured Debt | Weighted Average    
Secured debt instruments    
Years to maturity 5 years 1 month 6 days  
2.10% Medium Term Note Due August 2032 | Fixed Rate Debt | Unsecured Debt    
Secured debt instruments    
Total Debt, net $ 399,786 $ 399,768
Stated interest rate 2.10% 2.10%
Unamortized discount $ 214 $ 232
Weighted average interest rate (as a percent) 2.10%  
2.10% Medium Term Note Due August 2032 | Fixed Rate Debt | Unsecured Debt | Weighted Average    
Secured debt instruments    
Years to maturity 6 years 1 month 6 days  
1.90% Medium-Term Notes due March 2033 | Fixed Rate Debt | Unsecured Debt    
Secured debt instruments    
Total Debt, net $ 349,192 $ 349,131
Stated interest rate 1.90% 1.90%
Unamortized discount $ 808 $ 869
Weighted average interest rate (as a percent) 1.90%  
1.90% Medium-Term Notes due March 2033 | Fixed Rate Debt | Unsecured Debt | Weighted Average    
Secured debt instruments    
Years to maturity 6 years 8 months 12 days  
2.10% Medium-Term Note due June 2033 | Fixed Rate Debt | Unsecured Debt    
Secured debt instruments    
Total Debt, net $ 299,308 $ 299,258
Stated interest rate 2.10% 2.10%
Unamortized discount $ 692 $ 742
Weighted average interest rate (as a percent) 2.10%  
2.10% Medium-Term Note due June 2033 | Fixed Rate Debt | Unsecured Debt | Weighted Average    
Secured debt instruments    
Years to maturity 7 years  
5.125% Medium-Term Note due September 2034 | Fixed Rate Debt | Unsecured Debt    
Secured debt instruments    
Total Debt, net $ 297,504 $ 297,351
Stated interest rate 5.125% 5.125%
Unamortized discount $ 2,496 $ 2,649
Weighted average interest rate (as a percent) 4.95%  
5.125% Medium-Term Note due September 2034 | Fixed Rate Debt | Unsecured Debt | Weighted Average    
Secured debt instruments    
Years to maturity 8 years 2 months 12 days  
3.10% Medium-Term Notes due November 2034 | Fixed Rate Debt | Unsecured Debt    
Secured debt instruments    
Total Debt, net $ 299,265 $ 299,220
Stated interest rate 3.10% 3.10%
Unamortized discount $ 735 $ 780
Weighted average interest rate (as a percent) 3.13%  
3.10% Medium-Term Notes due November 2034 | Fixed Rate Debt | Unsecured Debt | Weighted Average    
Secured debt instruments    
Years to maturity 8 years 3 months 18 days