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v3.22.2

Notes Payable (Summary Of Indebtedness) (Details) - USD ($) $ in Thousands | 6 Months Ended |  |
--- | --- | --- | ---
Jun. 30, 2022 | Apr. 01, 2022 | Dec. 31, 2021
Unsecured notes payable |  | $ 3,222,252 |  | $ 3,170,367
Secured notes payable |  | 514,698 |  | 0
Total notes payable (2) | [1] | $ 3,737,000 |  | 3,170,400
The Funds |  |  |  |
Secured notes payable |  |  | $ 514,600 |
Commercial Banks [Member] | 2.88% Term loan, due 2022 [Member] |  |  |  |
Debt Instrument, Maturity Date |  | Jan. 01, 2022 |  |
Notes payable, effective interest rate |  | 2.88% |  |
Unsecured notes payable |  | $ 40,000 |  | 39,900
Commercial Banks [Member] | 2.03% Unsecured credit facility [Member] |  |  |  |
Notes payable, effective interest rate |  | 2.03% |  |
Senior Unsecured Notes [Member] |  |  |  |
Unsecured notes payable |  | $ 3,132,300 |  | 3,130,500
Senior Unsecured Notes [Member] | 3.15% Notes Due 2022 [Member] |  |  |  |
Debt Instrument, Maturity Date |  | Dec. 15, 2022 |  |
Notes payable, effective interest rate |  | 3.15% |  |
Unsecured notes payable |  | $ 349,700 |  | 349,300
Senior Unsecured Notes [Member] | 5.07% Notes Due 2023 [Member] |  |  |  |
Debt Instrument, Maturity Date |  | Jun. 15, 2023 |  |
Notes payable, effective interest rate |  | 5.07% |  |
Unsecured notes payable |  | $ 249,600 |  | 249,300
Senior Unsecured Notes [Member] | 4.36% Notes Due 2024 [Member] |  |  |  |
Debt Instrument, Maturity Date |  | Jan. 15, 2024 |  |
Notes payable, effective interest rate |  | 4.36% |  |
Unsecured notes payable |  | $ 249,600 |  | 249,500
Senior Unsecured Notes [Member] | 3.68% Notes Due 2024 [Member] |  |  |  |
Debt Instrument, Maturity Date |  | Sep. 15, 2024 |  |
Notes payable, effective interest rate |  | 3.68% |  |
Unsecured notes payable |  | $ 249,000 |  | 248,800
Senior Unsecured Notes [Member] | 3.74% Notes Due 2028 [Member] |  |  |  |
Debt Instrument, Maturity Date |  | Oct. 15, 2028 |  |
Notes payable, effective interest rate |  | 3.74% |  |
Unsecured notes payable |  | $ 398,000 |  | 397,800
Senior Unsecured Notes [Member] | 3.67% Notes Due 2029 [Member] |  |  |  |
Debt Instrument, Maturity Date |  | Jul. 01, 2029 |  |
Notes payable, effective interest rate |  | 3.67% |  |
Unsecured notes payable | [2] | $ 595,200 |  | 594,900
Senior Unsecured Notes [Member] | 2.91% Notes, due 2030 |  |  |  |
Debt Instrument, Maturity Date |  | May 15, 2030 |  |
Notes payable, effective interest rate |  | 2.91% |  |
Unsecured notes payable |  | $ 744,400 |  | 744,100
Senior Unsecured Notes [Member] | 3.41% Notes Due 2049 [Member] |  |  |  |
Debt Instrument, Maturity Date |  | Nov. 01, 2049 |  |
Notes payable, effective interest rate |  | 3.41% |  |
Unsecured notes payable |  | $ 296,800 |  | 296,800
Secured Debt | 3.78% - 4.04% Conventional Mortgage Notes, due 2026 - 2028 |  |  |  |
Secured notes payable |  | $ 291,200 |  | 0
Secured Debt | 3.14% Variable Rate Notes, due 2026 |  |  |  |
Notes payable, effective interest rate |  | 3.14% |  |
Secured notes payable |  | $ 166,100 |  | 0
Secured Debt | 3.44% Variable Rate Construction Note, due 2026 |  |  |  |
Debt Instrument, Maturity Date |  | Jun. 20, 2024 |  |
Notes payable, effective interest rate |  | 3.44% |  |
Secured notes payable |  | $ 18,800 |  | 0
Secured Debt | 3.87% note, due 2028 |  |  |  |
Debt Instrument, Maturity Date |  | Jan. 01, 2028 |  |
Notes payable, effective interest rate |  | 3.87% |  |
Secured notes payable |  | $ 38,600 |  | 0
Minimum [Member] | Secured Debt | The Funds |  |  |  |
Notes payable, effective interest rate |  |  | 2.47% |
Minimum [Member] | Secured Debt | 3.78% - 4.04% Conventional Mortgage Notes, due 2026 - 2028 |  |  |  |
Debt Instrument, Maturity Date |  | Oct. 01, 2026 |  |
Notes payable, effective interest rate |  | 3.78% |  |
Minimum [Member] | Secured Debt | 3.14% Variable Rate Notes, due 2026 |  |  |  |
Debt Instrument, Maturity Date |  | Apr. 01, 2026 |  |
Maximum [Member] | Secured Debt | The Funds |  |  |  |
Notes payable, effective interest rate |  |  | 4.04% |
Maximum [Member] | Secured Debt | 3.78% - 4.04% Conventional Mortgage Notes, due 2026 - 2028 |  |  |  |
Debt Instrument, Maturity Date |  | Apr. 01, 2028 |  |
Notes payable, effective interest rate |  | 4.04% |  |
Maximum [Member] | Secured Debt | 3.14% Variable Rate Notes, due 2026 |  |  |  |
Debt Instrument, Maturity Date |  | Oct. 01, 2026 |  |
2.03% Unsecured credit facility [Member] | Commercial Banks [Member] |  |  |  |
Unsecured notes payable |  | $ 50,000 |  | 0
Short-term Debt [Member] | Commercial Banks [Member] |  |  |  |
Unsecured notes payable |  | $ 90,000 |  | $ 39,900
[1] | Unamortized debt discounts, debt issuance costs and fair market value adjustments of $20.0 million and $19.6 million are included in notes payable as of June 30, 2022 and December 31, 2021, respectively.
[2] | The 2029 Notes have an effective annual interest rate of approximately 3.84% through June 2026, which includes the effect of a settled forward interest rate swap, and approximately 3.28% thereafter, for an all-in average effective rate of approximately 3.67%.

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