v3.26.1
Debt (Tables)
 6 Months Ended
Jun. 30, 2026
Debt Instrument [Line Items]  
Summary of Mortgage Notes Payable Activity

The following table summarizes the Company’s mortgage notes payable activity for the six months ended June 30, 2026 (amounts in thousands):

 

 

 

Mortgage notes
payable, net as of
December 31, 2025

 

 

Proceeds

 

 

Lump sum
payoffs

 

 

Scheduled
principal
repayments

 

 

Amortization
of premiums/
discounts

 

 

Amortization
of deferred
financing
costs, net (1)

 

 

Mortgage notes
payable, net as of
June 30, 2026

 

Fixed Rate Debt:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Secured – Conventional

 

$

1,403,671

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

789

 

 

$

442

 

 

$

1,404,902

 

Floating Rate Debt:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Secured – Tax Exempt

 

 

186,233

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

616

 

 

 

70

 

 

 

186,919

 

Total

 

$

1,589,904

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

1,405

 

 

$

512

 

 

$

1,591,821

 

 

(1)
Represents amortization of deferred financing costs, net of debt financing costs.
Summary of Notes Activity

The following table summarizes the Company’s notes activity for the six months ended June 30, 2026 (amounts in thousands):

 

 

 

Notes, net as of
December 31, 2025

 

 

Proceeds

 

 

Lump sum
payoffs

 

 

Amortization
of premiums/
discounts

 

 

Amortization
of deferred
financing
costs, net (1)

 

 

Notes, net as of
June 30, 2026

 

Fixed Rate Debt:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unsecured – Public

 

$

5,998,458

 

 

$

—

 

 

$

—

 

 

$

1,203

 

 

$

2,341

 

 

$

6,002,002

 

 

(1)
Represents amortization of deferred financing costs, net of debt financing costs.
Schedule of Unsecured Revolving Credit Facility The following table presents the availability on the Company’s unsecured revolving credit facility as of June 30, 2026 (amounts in thousands):

 

 

June 30, 2026

 

Unsecured revolving credit facility commitment

 

$

2,500,000

 

Commercial paper balance outstanding

 

 

(668,000

)

Unsecured revolving credit facility balance outstanding

 

 

—

 

Other restricted amounts

 

 

(3,464

)

Unsecured revolving credit facility availability

 

$

1,828,536

 
Mortgages [Member]  
Debt Instrument [Line Items]  
Summary of Certain Interest Rate and Maturity Date Information

The following table summarizes certain interest rate and maturity date information as of and for the six months ended June 30, 2026:

 

 

 

June 30, 2026

Interest Rate Ranges (ending)

 

0.10% - 5.25%

Weighted Average Interest Rate

 

3.72%

Maturity Date Ranges

 

2029-2061
Notes [Member]  
Debt Instrument [Line Items]  
Summary of Certain Interest Rate and Maturity Date Information

The following table summarizes certain interest rate and maturity date information as of and for the six months ended June 30, 2026:

 

 

 

June 30, 2026

Interest Rate Ranges (ending)

 

1.85% - 7.57%

Weighted Average Interest Rate

 

3.77%

Maturity Date Ranges

 

2026-2047
Commercial Paper [Member]  
Debt Instrument [Line Items]  
Summary of Certain Interest Rate and Maturity Date Information

The following table summarizes certain weighted average interest rate, maturity and amount outstanding information for the commercial paper program as of and for the six months ended June 30, 2026:

 

 

 

June 30, 2026

 

Weighted Average Interest Rate (1)

 

3.96%

 

Weighted Average Maturity (in days)

 

3

 

Weighted Average Amount Outstanding

 

$718.3 million

 

 

(1)
The notes bear interest at various floating rates.