v3.26.3
Debt (Tables)
 9 Months Ended
Sep. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Senior Unsecured Note
The following table summarizes the Company’s senior unsecured note repayments during the three and nine months ended September 30, 2026 (dollars in thousands):
Repayment Date
Amount
Coupon Rate(1)
Maturity Year
July 15, 2026$650,000 3.25 %2026
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(1)The effective interest rate, which includes amortization of debt discounts and debt issuance costs, was 3.40%.
The following table summarizes the Company’s senior unsecured note issuances for the year ended December 31, 2025 (dollars in thousands):
Issue DateAmount
Coupon Rate(1)
Maturity Year
February 14, 2025$500,000 5.38 %2035
August 14, 2025500,000 4.75 %2033
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(1)The effective interest rate, which includes amortization of debt discounts and debt issuance costs, is 5.56% for the senior unsecured notes issued in February 2025 and 5.02% for the senior unsecured notes issued in August 2025.
The following table summarizes the Company’s senior unsecured note repayments for the year ended December 31, 2025 (dollars in thousands):
Repayment Date
Amount
Coupon Rate(1)
Maturity Year
February 3, 2025$348,194 3.40 %2025
June 2, 2025451,806 4.00 %2025
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(1)The effective interest rate, which includes amortization of debt discounts and debt issuance costs, was 3.58% for the senior unsecured notes repaid in February 2025 and 4.19% for the senior unsecured notes repaid in June 2025.
Schedule of Principal Repayments
The following table summarizes the Company’s stated debt maturities and scheduled principal repayments at September 30, 2026 (dollars in thousands):
Senior Unsecured
Notes(3)
Mortgage
Debt(4)
Year
Bank Line 
of Credit(1)
Commercial Paper(1)(2)
Term LoansAmount
Interest Rate(5)
Amount
Interest Rate(5)
Total
2026$— $— $— $— — %$100,225 5.76 %$100,225 
2027— — 500,000 850,000 3.23 %842 4.57 %1,350,842 
2028— — 400,000 850,000 3.53 %2,775 3.53 %1,252,775 
2029— 1,489,500 750,000 650,000 3.65 %— — %2,889,500 
2030— — — 750,000 3.14 %— — %750,000 
Thereafter— — — 3,150,000 5.08 %— — %3,150,000 
— 1,489,500 1,650,000 6,250,000 103,842 9,493,342 
Premiums, (discounts), and debt issuance costs, net— — (3,275)(107,899)177 (110,997)
$— $1,489,500 $1,646,725 $6,142,101 $104,019 $9,382,345 
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(1)As of September 30, 2026, total unamortized debt issuance costs for the Revolving Facility and Commercial Paper Program were $11 million and total unamortized debt issuance costs for the Janus Living Credit Facilities were $6 million, which are recognized in other assets on the Consolidated Balance Sheets.
(2)Commercial Paper Program borrowings are backstopped by the availability under the Revolving Facility. As such, the Company calculates the weighted average remaining term of its Commercial Paper Program borrowings using the maturity date of the Revolving Facility.
(3)Effective interest rates on the senior unsecured notes range from 1.54% to 6.87% with a weighted average effective interest rate of 4.24% and a weighted average maturity of approximately four years.
(4)Effective interest rates on the mortgage debt range from 3.53% to 6.37% with a weighted average effective interest rate of 5.69% and a weighted average maturity of approximately three months.
(5)Represents the weighted-average effective interest rate as of the end of the applicable period, including amortization of debt premiums (discounts) and debt issuance costs.