Notes Payable (Tables)


			June 30, 2026		December 31, 2025
	Coupon Rate	Effective Rate	Amount		Fair Value		Amount		Fair Value

			(Dollar amounts in thousands)
U.S. Dollar Denominated Unsecured Debt

Notes due February 15, 2026	0.875%	0.000%	$	—	$	—	$	500,000	$	497,958
Notes due November 9, 2026	1.500%	1.640%	650,000		643,625		650,000		636,828
Notes due April 16, 2027	SOFR+0.70%	4.368%	700,000		701,779		700,000		703,891
Notes due September 15, 2027	3.094%	3.218%	500,000		492,953		500,000		494,206
Notes due May 1, 2028	1.850%	1.962%	650,000		620,723		650,000		620,402
Notes due November 9, 2028	1.950%	2.044%	550,000		519,054		550,000		520,843
Notes due January 15, 2029	5.125%	5.260%	500,000		508,858		500,000		516,660
Notes due May 1, 2029	3.385%	3.459%	500,000		485,937		500,000		489,405
Notes due July 1, 2030 (a)	4.375%	4.568%	475,000		471,817		475,000		478,958
Notes due May 1, 2031	2.300%	2.419%	650,000		583,194		650,000		588,030
Notes due November 9, 2031	2.250%	2.322%	550,000		487,288		550,000		490,580
Notes due August 1, 2033	5.100%	5.207%	700,000		708,266		700,000		724,886
Notes due July 1, 2035	5.000%	5.245%	400,000		398,567		400,000		406,046
Notes due December 15, 2035	5.000%	5.195%	500,000		494,796		—		—
Notes due August 1, 2053	5.350%	5.474%	900,000		863,934		900,000		870,986
			8,225,000		7,980,791		8,225,000		8,039,679

Euro Denominated Unsecured Debt

Notes due September 9, 2030	0.500%	0.640%	798,483		711,700		821,758		727,308
Notes due January 24, 2032	0.875%	0.978%	570,345		495,680		586,970		508,532
Notes due January 20, 2034	3.500%	3.836%	484,793		432,104		498,925		441,580
Notes due April 11, 2039	4.080%	4.080%	171,104		171,773		176,091		177,535
			2,024,725		1,811,257		2,083,744		1,854,955

Mortgage Debt, secured by 2 real estate facilities with a net book value of 11.0 million	4.187%	4.187%	1,507		1,455		1,576		1,545



Total			10,251,232		$	9,793,503	10,310,320		$	9,896,179
Aggregate debt issuance costs and unamortized premium (discount), net			(62,677)				(56,581)
Hedge accounting fair value adjustment (a)			(8,340)				142
Total			$	10,180,215			$	10,253,881

(a) The book value includes $8.3 million in adjustments related to changes in fair value attributable to hedging instruments on these notes as of June 30, 2026. See below for further discussion.

At June 30, 2026, approximate principal maturities of our Notes Payable are as follows:


	Unsecured Debt		Mortgage Debt		Total

	(Amounts in thousands)

Remainder of 2026	$	650,000	$	70	$	650,070
2027	1,200,000		146		1,200,146
2028	1,200,000		129		1,200,129
2029	1,000,000		88		1,000,088
2030	1,273,483		1,061		1,274,544
Thereafter	4,926,242		13		4,926,255
	$	10,249,725	$	1,507	$	10,251,232
Weighted average effective rate	3.3%		4.2%		3.3%