| Summary of Terms of Notes Payable |
The following table summarizes the terms of notes payable outstanding at June 30, 2026 and December 31, 2025 ($ in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | Description | | Interest Rate (1) | | Maturity (2) | | 2026 | | 2025 | | Unsecured Notes: | | | | | | | | | | Credit Facility | | 4.345% | | April 2031 | | $ | 167,000 | | | $ | 116,000 | | | Public Senior Notes | | 5.875% | | October 2034 | | 500,000 | | | 500,000 | | | Public Senior Notes | | 5.250% | | July 2030 | | 500,000 | | | 500,000 | | | Public Senior Notes | | 4.875% | | March 2033 | | 500,000 | | | — | | | Public Senior Notes | | 5.375% | | February 2032 | | 400,000 | | | 400,000 | | | Term Loan (3) | | 4.419% | | March 2027 | | 400,000 | | | 400,000 | | | Privately Placed Senior Notes | | 3.950% | | July 2029 | | 275,000 | | | 275,000 | | | Privately Placed Senior Notes | | 3.860% | | July 2028 | | 250,000 | | | 250,000 | | | | | | | | | | | | Privately Placed Senior Notes | | 3.780% | | July 2027 | | 125,000 | | | 125,000 | | | Term Loan | | 4.420% | | February 2027 | | 100,000 | | | 250,000 | | | Privately Placed Senior Notes | | 4.090% | | July 2027 | | 100,000 | | | 100,000 | | | | | | | | 3,317,000 | | | 2,916,000 | | | Secured Mortgage Notes: | | | | | | | | | | Terminus (4) | | 6.340% | | January 2031 | | 221,000 | | | 221,000 | | | 201 North Tryon | | 3.370% | | October 2026 | | 116,941 | | | 118,928 | | | Colorado Tower | | 3.450% | | September 2026 | | 99,721 | | | 101,199 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 437,662 | | | 441,127 | | | | | | | | | $ | 3,754,662 | | | $ | 3,357,127 | | | | | | | | | | | | Unamortized original issue discount | | | | | | (6,618) | | | (3,246) | | | Unamortized loan costs | | | | | | (15,980) | | | (13,066) | | | Total Notes Payable | | | | | | $ | 3,732,064 | | | $ | 3,340,815 | |
(1) Interest rate as of June 30, 2026. (2) Weighted average maturity of notes payable outstanding at June 30, 2026 was 4.1 years, exclusive of unexercised extension options. (3) The Company has elected six-month Term SOFR through September 3, 2026 for $200 million and Daily SOFR for $200 million. (4) Represents $123.0 million and $98.0 million non-cross-collateralized mortgages secured by the Terminus 100 and Terminus 200 buildings, respectively.
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| Summary of Interest Recorded |
For the three and six months ended June 30, 2026, and 2025, interest expense was recorded as follows ($ in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | | Total interest incurred | $ | 48,185 | | | $ | 40,417 | | | $ | 94,478 | | | $ | 79,574 | | | | Interest capitalized | (1,121) | | | (1,903) | | | (2,313) | | | (4,286) | | | | Total interest expense | $ | 47,064 | | | $ | 38,514 | | | $ | 92,165 | | | $ | 75,288 | | |
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