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v3.23.4

Borrowing Arrangements - Third Amended and Restated Unsecured Credit Facility And Unsecured Debt (Details) | 12 Months Ended |
--- | --- | ---
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) property | Mar. 31, 2021 USD ($)
Debt Instrument |  |  |
Term loan, net | $ 496,817,000 | $ 297,436,000 |
Unsecured line of credit | 198,000,000 | $ 349,000,000 |
Line of Credit | Senior Unsecured Term Loan |  |  |
Debt Instrument |  |  |
Line of credit facility, maximum borrowing capacity | $ 200,000,000 |  |
Minimum |  |  |
Debt Instrument |  |  |
Derivative interest rate, percent |  | 0.20% |
Maximum |  |  |
Debt Instrument |  |  |
Derivative interest rate, percent |  | 0.35% |
LIBOR | Minimum |  |  |
Debt Instrument |  |  |
Variable rate, percent |  | 1.40% |
LIBOR | Maximum |  |  |
Debt Instrument |  |  |
Variable rate, percent |  | 1.95% |
SOFR | Minimum | Line of Credit | Senior Unsecured Term Loan |  |  |
Debt Instrument |  |  |
Variable rate, percent | 1.30% |  |
SOFR | Maximum | Line of Credit | Senior Unsecured Term Loan |  |  |
Debt Instrument |  |  |
Variable rate, percent | 1.80% |  |
Senior Unsecured Term Loan | Unsecured Debt |  |  |
Debt Instrument |  |  |
Term loan, net |  | $ 300,000,000 | $ 300,000,000
Line of Credit | Revolving Credit Facility |  |  |
Debt Instrument |  |  |
Line of credit facility, maximum borrowing capacity |  | 500,000,000 |
Option to increase borrowing capacity |  | $ 200,000,000 |
Number of extension periods (extension) | property |  | 2 |
Extension period (months) |  | 6 months |
Unsecured line of credit | $ 198,000,000 | $ 349,000,000 |
Line of credit remaining borrowing amount | $ 302,000,000 |  |
Line of Credit | LIBOR | Minimum |  |  |
Debt Instrument |  |  |
Variable rate, percent |  | 1.25% |
Line of Credit | LIBOR | Maximum |  |  |
Debt Instrument |  |  |
Variable rate, percent |  | 1.65% |

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- Definition 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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -URI https://asc.fasb.org/extlink&oid=126897435&loc=d3e534808-122878 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(16)) -URI https://asc.fasb.org/extlink&oid=126734703&loc=d3e572229-122910 + Details
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