v3.26.3
Senior Unsecured Notes and Secured Debt - Summary of Annual Principal Payments Due on Debt Obligations (Details)
£ in Thousands
9 Months Ended
Sep. 30, 2026
USD ($)
Sep. 30, 2026
CAD ($)
Sep. 30, 2026
GBP (£)
Jun. 30, 2026
CAD ($)
Dec. 31, 2025
USD ($)
Sep. 30, 2025
USD ($)
Dec. 31, 2024
USD ($)
Principal payments due on debt obligations              
2026 $ 67,982,000            
2027 3,016,221,000            
2028 2,303,708,000            
2029 2,803,806,000            
2030 1,918,421,000            
Thereafter 8,203,085,000            
Total principal balance 18,313,223,000            
Unamortized discounts and premiums, net (20,422,000)            
Unamortized debt issuance costs, net (72,538,000)            
Fair value adjustments and other, net (66,165,000)            
Total carrying value of debt 18,154,098,000            
Senior unsecured notes              
Principal payments due on debt obligations              
2026 0            
2027 2,644,606,000            
2028 1,914,881,000            
2029 2,252,786,000            
2030 1,750,000,000            
Thereafter 6,272,555,000            
Total principal balance 14,834,828,000       $ 16,526,245,000 $ 14,513,786,000 $ 13,326,465,000
Unamortized discounts and premiums, net (20,422,000)            
Unamortized debt issuance costs, net (61,076,000)            
Fair value adjustments and other, net (66,358,000)            
Total carrying value of debt $ 14,686,972,000            
Senior Unsecured Notes and Secured Debt Textual              
Weighted average interest rate, at point in time (in percent) 3.98% 3.98% 3.98%     3.96%  
Senior unsecured notes | 2.95% Senior Unsecured Notes Due 2027              
Senior Unsecured Notes and Secured Debt Textual              
Interest rate (in percent) 2.95% 2.95% 2.95%        
Principal amount $ 211,110,000 $ 300,000,000          
Senior unsecured notes | Canadian Dominated Unsecured Debt Due 2026              
Senior Unsecured Notes and Secured Debt Textual              
Principal amount $ 1,933,496,000     $ 2,747,615,000      
Interest rate margin (in percent) 0.65%            
Effective rate (in percent) 2.93% 2.93% 2.93%        
Senior unsecured notes | UK Debt Due 2028              
Senior Unsecured Notes and Secured Debt Textual              
Interest rate (in percent) 4.80% 4.80% 4.80%        
Principal amount $ 729,630,000   £ 550,000        
Senior unsecured notes | 4.50% Senior Unsecured Notes Due 2034              
Senior Unsecured Notes and Secured Debt Textual              
Interest rate (in percent) 4.50% 4.50% 4.50%        
Principal amount $ 663,300,000   £ 500,000        
Senior unsecured notes | 3.85% Senior Unsecured Notes Due 2031              
Senior Unsecured Notes and Secured Debt Textual              
Interest rate (in percent) 3.85% 3.85% 3.85%        
Principal amount $ 527,775,000 $ 750,000,000          
Senior unsecured notes | 4.15% Senior Unsecured Notes Due 2033              
Senior Unsecured Notes and Secured Debt Textual              
Interest rate (in percent) 4.15% 4.15% 4.15%        
Principal amount $ 281,480,000 $ 400,000,000          
Senior unsecured notes | Minimum              
Senior Unsecured Notes and Secured Debt Textual              
Interest rate (in percent) 2.05% 2.05% 2.05%        
Senior unsecured notes | Maximum              
Senior Unsecured Notes and Secured Debt Textual              
Interest rate (in percent) 6.50% 6.50% 6.50%        
Secured Debt              
Principal payments due on debt obligations              
2026 $ 67,599,000            
2027 370,028,000            
2028 387,146,000            
2029 549,240,000            
2030 166,535,000            
Thereafter 1,680,626,000            
Total principal balance 3,221,174,000       $ 2,573,080,000 $ 2,629,981,000 $ 2,467,223,000
Unamortized discounts and premiums, net 0            
Unamortized debt issuance costs, net (11,462,000)            
Fair value adjustments and other, net (116,793,000)            
Total carrying value of debt $ 3,092,919,000            
Senior Unsecured Notes and Secured Debt Textual              
Weighted average interest rate, at point in time (in percent) 4.10% 4.10% 4.10%     4.09%  
Carrying values of properties securing the debt $ 6,576,886,000            
Secured Debt | Minimum              
Senior Unsecured Notes and Secured Debt Textual              
Interest rate (in percent) 1.74% 1.74% 1.74%        
Secured Debt | Maximum              
Senior Unsecured Notes and Secured Debt Textual              
Interest rate (in percent) 5.98% 5.98% 5.98%        
Other Financial Obligations              
Principal payments due on debt obligations              
2026 $ 383,000            
2027 1,587,000            
2028 1,681,000            
2029 1,780,000            
2030 1,886,000            
Thereafter 249,904,000            
Total principal balance 257,221,000            
Unamortized discounts and premiums, net 0            
Unamortized debt issuance costs, net 0            
Fair value adjustments and other, net 116,986,000            
Total carrying value of debt $ 374,207,000            
Senior Unsecured Notes and Secured Debt Textual              
Effective rate (in percent) 5.53% 5.53% 5.53%