v3.26.3
SECURED AND UNSECURED DEBT, NET - Summary (Details)
$ in Thousands
9 Months Ended
Sep. 30, 2026
USD ($)
community
Dec. 31, 2025
USD ($)
Secured debt instruments    
Total Debt, net $ 5,756,311 $ 5,821,369
Long-term Debt $ 5,769,061  
Weighted average interest rate (as a percent) 3.45%  
Weighted Average    
Secured debt instruments    
Years to maturity 3 years 8 months 12 days  
Secured Debt    
Secured debt instruments    
Total Debt, net $ 931,510 961,180
Long-term Debt $ 934,503  
Weighted average interest rate (as a percent) 3.49%  
Number of Communities Encumbered | community 17  
Secured Debt | Weighted Average    
Secured debt instruments    
Years to maturity 3 years 1 month 6 days  
Unsecured Debt    
Secured debt instruments    
Total Debt, net $ 4,824,801 4,860,189
Long-term Debt $ 4,834,558  
Weighted average interest rate (as a percent) 3.44%  
Deferred finance costs $ (15,108) (17,838)
Unsecured Debt | Weighted Average    
Secured debt instruments    
Years to maturity 3 years 9 months 18 days  
Fixed Rate Debt | Secured Debt    
Secured debt instruments    
Total Debt, net $ 904,548 934,223
Weighted average interest rate (as a percent) 3.51%  
Number of Communities Encumbered | community 16  
Fixed Rate Debt | Secured Debt | Weighted Average    
Secured debt instruments    
Years to maturity 3 years  
Variable Rate Debt | Secured Debt    
Secured debt instruments    
Total Debt, net $ 26,962 26,957
Weighted average interest rate (as a percent) 2.82%  
Number of Communities Encumbered | community 1  
Variable Rate Debt | Secured Debt | Weighted Average    
Secured debt instruments    
Years to maturity 5 years 6 months  
Mortgages loans | Fixed Rate Debt | Secured Debt    
Secured debt instruments    
Deferred financing costs and other non-cash adjustments $ (2,955) (3,252)
Long-term Debt $ 907,503 937,475
Weighted average interest rate (as a percent) 3.46%  
Number of Communities Encumbered | community 16  
Mortgages loans | Fixed Rate Debt | Secured Debt | Weighted Average    
Secured debt instruments    
Years to maturity 3 years  
Tax-exempt secured notes payable | Variable Rate Debt | Secured Debt    
Secured debt instruments    
Long-term Debt $ 27,000 27,000
Weighted average interest rate (as a percent) 2.79%  
Number of Communities Encumbered | community 1  
Deferred finance costs $ (38) (43)
Tax-exempt secured notes payable | Variable Rate Debt | Secured Debt | Weighted Average    
Secured debt instruments    
Years to maturity 5 years 6 months  
Borrowings outstanding under unsecured credit facility due August 2028 | Variable Rate Debt | Unsecured Debt | Weighted Average    
Secured debt instruments    
Years to maturity 1 year 10 months 24 days  
Commercial Paper | Variable Rate Debt | Unsecured Debt    
Secured debt instruments    
Borrowings outstanding $ 700,000 445,000
Weighted average interest rate (as a percent) 4.15%  
Commercial Paper | Variable Rate Debt | Unsecured Debt | Weighted Average    
Secured debt instruments    
Years to maturity 1 month 6 days  
Working Capital Credit Facility | Variable Rate Debt | Unsecured Debt    
Secured debt instruments    
Borrowings outstanding $ 34,558 26,381
Weighted average interest rate (as a percent) 4.65%  
Working Capital Credit Facility | Variable Rate Debt | Unsecured Debt | Weighted Average    
Secured debt instruments    
Years to maturity 3 months 18 days  
Term Loan due January 2029 | Fixed Rate Debt | Unsecured Debt    
Secured debt instruments    
Long-term Debt $ 175,000 175,000
Weighted average interest rate (as a percent) 4.04%  
Term Loan due January 2029 | Fixed Rate Debt | Unsecured Debt | Weighted Average    
Secured debt instruments    
Years to maturity 2 years 3 months 18 days  
Term Loan due January 2029 | Variable Rate Debt | Unsecured Debt    
Secured debt instruments    
Long-term Debt $ 175,000 175,000
Weighted average interest rate (as a percent) 4.54%  
Term Loan due January 2029 | Variable Rate Debt | Unsecured Debt | Weighted Average    
Secured debt instruments    
Years to maturity 2 years 3 months 18 days  
2.95% Medium-Term Note due September 2026 | Fixed Rate Debt | Unsecured Debt    
Secured debt instruments    
Long-term Debt   $ 300,000
Stated interest rate 2.95% 2.95%
3.50% Medium-Term Note due July 2027 | Fixed Rate Debt | Unsecured Debt    
Secured debt instruments    
Total Debt, net $ 299,947 $ 299,894
Stated interest rate 3.50% 3.50%
Unamortized discount $ 53 $ 106
Weighted average interest rate (as a percent) 3.50%  
3.50% Medium-Term Note due July 2027 | Fixed Rate Debt | Unsecured Debt | Weighted Average    
Secured debt instruments    
Years to maturity 9 months 18 days  
3.50% Medium-Term Notes Due January 2028 | Fixed Rate Debt | Unsecured Debt    
Secured debt instruments    
Total Debt, net $ 299,847 $ 299,758
Stated interest rate 3.50% 3.50%
Unamortized discount $ 153 $ 242
Weighted average interest rate (as a percent) 3.50%  
3.50% Medium-Term Notes Due January 2028 | Fixed Rate Debt | Unsecured Debt | Weighted Average    
Secured debt instruments    
Years to maturity 1 year 3 months 18 days  
4.40% Medium-Term Notes due January 2029 | Fixed Rate Debt | Unsecured Debt    
Secured debt instruments    
Total Debt, net $ 299,999 $ 299,998
Stated interest rate 4.40% 4.40%
Unamortized discount $ 1 $ 2
Weighted average interest rate (as a percent) 4.27%  
4.40% Medium-Term Notes due January 2029 | Fixed Rate Debt | Unsecured Debt | Weighted Average    
Secured debt instruments    
Years to maturity 2 years 3 months 18 days  
3.20% Medium-Term Notes due January 2030 | Fixed Rate Debt | Unsecured Debt    
Secured debt instruments    
Total Debt, net $ 604,519 $ 605,548
Stated interest rate 3.20% 3.20%
Unamortized net premium $ 4,519 $ 5,548
Weighted average interest rate (as a percent) 3.32%  
3.20% Medium-Term Notes due January 2030 | Fixed Rate Debt | Unsecured Debt | Weighted Average    
Secured debt instruments    
Years to maturity 3 years 3 months 18 days  
3.00% Medium-Term Notes due August 2031    
Secured debt instruments    
Long-term Debt $ 600,000  
3.00% Medium-Term Notes due August 2031 | Fixed Rate Debt | Unsecured Debt    
Secured debt instruments    
Total Debt, net $ 605,824 $ 606,720
Stated interest rate 3.00% 3.00%
Unamortized net premium $ 5,824 $ 6,720
Weighted average interest rate (as a percent) 3.01%  
3.00% Medium-Term Notes due August 2031 | Fixed Rate Debt | Unsecured Debt | Weighted Average    
Secured debt instruments    
Years to maturity 4 years 10 months 24 days  
2.10% Medium Term Note Due August 2032 | Fixed Rate Debt | Unsecured Debt    
Secured debt instruments    
Total Debt, net $ 399,794 $ 399,768
Stated interest rate 2.10% 2.10%
Unamortized discount $ 206 $ 232
Weighted average interest rate (as a percent) 2.10%  
2.10% Medium Term Note Due August 2032 | Fixed Rate Debt | Unsecured Debt | Weighted Average    
Secured debt instruments    
Years to maturity 5 years 9 months 18 days  
1.90% Medium-Term Notes due March 2033 | Fixed Rate Debt | Unsecured Debt    
Secured debt instruments    
Total Debt, net $ 349,222 $ 349,131
Stated interest rate 1.90% 1.90%
Unamortized discount $ 778 $ 869
Weighted average interest rate (as a percent) 1.90%  
1.90% Medium-Term Notes due March 2033 | Fixed Rate Debt | Unsecured Debt | Weighted Average    
Secured debt instruments    
Years to maturity 6 years 6 months  
2.10% Medium-Term Note due June 2033 | Fixed Rate Debt | Unsecured Debt    
Secured debt instruments    
Total Debt, net $ 299,332 $ 299,258
Stated interest rate 2.10% 2.10%
Unamortized discount $ 668 $ 742
Weighted average interest rate (as a percent) 2.10%  
2.10% Medium-Term Note due June 2033 | Fixed Rate Debt | Unsecured Debt | Weighted Average    
Secured debt instruments    
Years to maturity 6 years 8 months 12 days  
5.125% Medium-Term Note due September 2034 | Fixed Rate Debt | Unsecured Debt    
Secured debt instruments    
Total Debt, net $ 297,581 $ 297,351
Stated interest rate 5.125% 5.125%
Unamortized discount $ 2,419 $ 2,649
Weighted average interest rate (as a percent) 4.95%  
5.125% Medium-Term Note due September 2034 | Fixed Rate Debt | Unsecured Debt | Weighted Average    
Secured debt instruments    
Years to maturity 7 years 10 months 24 days  
3.10% Medium-Term Notes due November 2034 | Fixed Rate Debt | Unsecured Debt    
Secured debt instruments    
Total Debt, net $ 299,286 $ 299,220
Stated interest rate 3.10% 3.10%
Unamortized discount $ 714 $ 780
Weighted average interest rate (as a percent) 3.13%  
3.10% Medium-Term Notes due November 2034 | Fixed Rate Debt | Unsecured Debt | Weighted Average    
Secured debt instruments    
Years to maturity 8 years 1 month 6 days