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v3.22.4

Unsecured Debt - Summary (Details) | 1 Months Ended | 12 Months Ended |
--- | --- | --- | ---
Jul. 31, 2022 USD ($) extension | Oct. 31, 2021 USD ($) | Nov. 30, 2016 USD ($) | Dec. 31, 2022 USD ($) line_of_credit extension | Dec. 31, 2021 USD ($) extension | Oct. 31, 2016 USD ($)
Debt Instrument [Line Items] |  |  |  |  |  |
Unsecured debt, net |  |  |  | $ 5,312,168,000 | $ 5,307,196,000 |
Lines of credit |  |  |  | 52,073,000 | 341,257,000 |
Total unsecured debt |  |  |  | 5,364,241,000 | 5,648,453,000 |
Debt instrument face amount |  |  |  | 5,350,000,000 | 5,350,000,000 |
Term loan - variable rate, net |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |
Unsecured debt, net |  |  | $ 350,000,000 |  |  | $ 225,000,000
Basis spread on rate |  |  | 0.95% |  |  |
Unsecured Debt |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |
Unsecured debt, net |  |  |  | 5,312,168,000 | 5,307,196,000 |
Unamortized debt issuance expense |  |  |  | 29,900,000 | 32,900,000 |
Debt instrument, unamortized discount (premium), net |  |  |  | $ 7,900,000 | 9,900,000 |
Unsecured Debt | Term loan - variable rate, net |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |
Debt instrument face amount |  | $ 300,000,000 |  |  |  |
Coupon rate |  | 4.20% |  |  |  |
Number of extension options | extension |  |  |  | 3 |  |
Term extension period |  |  |  | 12 months |  |
Delayed draw feature period |  |  |  | 6 months |  |
Unamortized debt issuance expense |  |  |  | $ 1,600,000 |  |
Unsecured Debt | Bonds public offering - fixed rate, net |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |
Unsecured debt, net |  |  |  | $ 5,313,779,000 | $ 5,307,196,000 |
Weighted average interest rate |  |  |  | 3.30% | 3.30% |
Weighted Average Maturity In Years as of December 31, 2022 |  |  |  | 7 years 8 months 12 days |  |
Unsecured Debt | Adjusted SOFR | Term loan - variable rate, net |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |
Basis spread on rate |  | 0.85% |  |  |  |
Line of Credit |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |
Lines of credit |  |  |  | $ 52,073,000 | $ 341,257,000 |
Weighted average interest rate |  |  |  | 4.40% | 1.00% |
Number of extension options | extension | 2 |  |  |  | 3 |
Term extension period | 6 months |  |  |  | 6 months |
Unamortized debt issuance expense |  |  |  | $ 5,100,000 | $ 4,400,000 |
Number of outstanding lines of credit | line_of_credit |  |  |  | 2 |  |
Maximum borrowing capacity | $ 1,200,000,000 |  |  | $ 1,240,000,000 |  |
Line of Credit | Line of Credit Working Capital |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |
Maximum borrowing capacity | $ 35,000,000 |  |  |  |  |
Line of Credit | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |
Basis spread on rate |  |  |  | 0.75% |  |
Line of Credit | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Line of Credit Working Capital |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |
Basis spread on rate |  |  |  | 0.75% |  |
Line of Credit | LIBOR |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |
Basis spread on rate |  |  |  |  | 0.775% |
Line of Credit | LIBOR | Working Capital Unsecured Line of Credit |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |
Basis spread on rate |  |  |  |  | 0.775% |
Carrying Value | Unsecured Debt | Term loan - variable rate, net |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |
Unsecured debt, net |  |  |  | $ (1,611,000) | $ 0 |

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- Definition Including the current and noncurrent portions, carrying value as of the balance sheet date of uncollateralized debt obligations (with maturities initially due after one year or beyond the operating cycle if longer) and the carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. + References No definition available. + Details
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