| Schedule of summary of consolidated Hedging Derivatives, excluding derivatives executed to hedge debt on communities classified as held for sale |
The following table summarizes the consolidated derivative positions at June 30, 2026 (dollars in thousands): | | | | | | | | | | | | | Non-designated Hedges | | Cash Flow Hedges | | Interest Rate Caps | | Interest Rate Swaps | | Notional balance | $ | 357,289 | | $ | 700,000 | | Weighted average interest rate (1) | 4.3 | % | | N/A | | Weighted average capped/swapped interest rate | 6.7 | % | | 3.6 | % | | Earliest maturity date | July 2026 | | January 2027 | | Latest maturity date | May 2029 | | April 2029 |
____________________________________ (1)For debt hedged by interest rate caps, represents the weighted average interest rate on the hedged debt prior to any impact of the associated interest rate caps.
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| Schedule of summary of classification between the three levels of the fair value hierarchy of the Company's financial instruments measured at fair value on a recurring basis |
The following tables summarize the classification between the three levels of the fair value hierarchy of the Company's financial instruments measured or disclosed at fair value on a recurring basis (dollars in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | | Description | | Total Fair Value | | Quoted Prices
in Active
Markets for Identical Assets
(Level 1) | | Significant
Other
Observable Inputs
(Level 2) | | Significant
Unobservable Inputs
(Level 3) | | | | | | Assets | | | | | | | | | | Investments | | | | | | | | | | Notes receivable, net | | $ | 293,662 | | | $ | — | | | $ | 293,662 | | | $ | — | | | Non-designated hedges | | | | | | | | | | Interest rate caps | | 20 | | | — | | | 20 | | | — | | | Interest rate swaps - assets | | 9,419 | | | — | | | 9,419 | | | — | | | Total Assets | | $ | 303,101 | | | $ | — | | | $ | 303,101 | | | $ | — | | | | | | | | | | | | Liabilities | | | | | | | | | | | | | | | | | | | Indebtedness | | | | | | | | | | Fixed rate unsecured debt | | 6,482,606 | | | 6,482,606 | | | — | | | — | | Mortgage notes payable, Commercial Paper and Term Loan | | 2,136,623 | | | — | | | 2,136,623 | | | — | | | Total Liabilities | | $ | 8,619,229 | | | $ | 6,482,606 | | | $ | 2,136,623 | | | $ | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2025 | | Description | | Total Fair Value | | Quoted Prices
in Active
Markets for Identical Asset
(Level 1) | | Significant
Other
Observable Inputs
(Level 2) | | Significant
Unobservable Inputs
(Level 3) | | | | | | Assets | | | | | | | | | | Investments | | | | | | | | | | Notes receivable, net | | $ | 259,051 | | | $ | — | | | $ | 259,051 | | | $ | — | | | Total Assets | | $ | 259,051 | | | $ | — | | | $ | 259,051 | | | $ | — | | | | | | | | | | | | Liabilities | | | | | | | | | | Interest rate swaps - liabilities | | $ | 4,046 | | | $ | — | | | $ | 4,046 | | | $ | — | | | Indebtedness | | | | | | | | | | Fixed rate unsecured debt | | 7,025,656 | | | 7,025,656 | | | — | | | — | | Mortgage notes payable, Commercial Paper and Term Loan | | 1,970,177 | | | — | | | 1,970,177 | | | — | | | Total Liabilities | | $ | 8,999,879 | | | $ | 7,025,656 | | | $ | 1,974,223 | | | $ | — | |
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