v3.26.1
Debt
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Debt Debt
The following table summarizes our total consolidated non-recourse indebtedness as of June 30, 2026 and December 31, 2025 (in thousands):
June 30, 2026December 31, 2025
Fixed-rate property debt due October 2026 to January 2055 (1)
$1,672,817 $1,683,772 
Variable-rate property debt due July 2029 to November 2030
4,010,019 4,056,459 
Total non-recourse property debt5,682,836 5,740,231 
Debt issuance costs, net of accumulated amortization(10,883)(22,731)
Total non-recourse property debt, net$5,671,953 $5,717,500 
(1)The stated rates on our fixed-rate property debt are between 2.7% to 7.1%.
During the three months ended June 30, 2026, we repaid $48.7 million of variable-rate debt in connection with the disposition of one apartment community. The repayment of debt resulted in a loss on extinguishment of debt of $0.04 million, representing the write-off of deferred financing costs and related fees.