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v3.23.2

Notes Payable (Summary Of Indebtedness) (Details) - USD ($) $ in Thousands | 6 Months Ended |  |
--- | --- | --- | ---
Jun. 30, 2023 | Jun. 01, 2023 | Dec. 31, 2022
Unsecured notes payable |  | $ 3,352,415 |  | $ 3,165,924
Secured notes payable |  | 330,015 |  | 514,989
Total notes payable (2) | [1] | 3,682,400 |  | 3,680,900
Commercial Banks [Member] |  |  |  |
Unsecured notes payable |  | $ 816,900 |  | 381,800
Commercial Banks [Member] | 6.35% Term Loan, due 2024 |  |  |  |
Debt Instrument, Maturity Date |  | Sep. 30, 2024 |  |
Notes payable, effective interest rate |  | 6.35% |  |
Unsecured notes payable |  | $ 39,900 |  | 39,800
Commercial Banks [Member] | 5.95% Term Loan, due 2024 |  |  |  |
Debt Instrument, Maturity Date |  | Aug. 30, 2024 |  |
Notes payable, effective interest rate |  | 5.95% |  |
Unsecured notes payable |  | $ 300,000 |  | 300,000
Commercial Banks [Member] | 5.88% Unsecured revolving credit facility |  |  |  |
Notes payable, effective interest rate |  | 5.88% |  |
Unsecured notes payable |  | $ 477,000 |  | 42,000
Senior Unsecured Notes [Member] |  |  |  |
Unsecured notes payable |  | $ 2,535,500 |  | 2,784,100
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 |  | $ 0 | $ 250,000 | 249,800
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 |  | $ 249,900 |  | 249,700
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 |  | $ 249,500 |  | 249,200
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 |  | $ 398,400 |  | 398,300
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] | $ 595,800 |  | 595,500
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 |  | $ 745,100 |  | 744,800
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 |  | $ 291,300 |  | 291,200
Secured Debt | 6.69% Variable Rate Notes, due 2026 |  |  |  |
Notes payable, effective interest rate |  | 6.69% |  |
Secured notes payable |  | $ 0 |  | 166,200
Secured Debt | 6.99% Variable Rate Construction Note, due 2024 |  |  |  |
Debt Instrument, Maturity Date |  | Jun. 20, 2024 |  |
Notes payable, effective interest rate |  | 6.99% |  |
Secured notes payable |  | $ 0 |  | 18,900
Secured Debt | 3.87% note, due 2028 |  |  |  |
Debt Instrument, Maturity Date |  | Jan. 01, 2028 |  |
Notes payable, effective interest rate |  | 3.87% |  |
Secured notes payable |  | $ 38,700 |  | $ 38,700
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 | 6.69% Variable Rate Notes, due 2026 |  |  |  |
Debt Instrument, Maturity Date |  | Apr. 01, 2026 |  |
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 | 6.69% Variable Rate Notes, due 2026 |  |  |  |
Debt Instrument, Maturity Date |  | Oct. 01, 2026 |  |
[1] | Unamortized debt discounts, debt issuance costs, and fair market value adjustments of $15.5 million and $18.0 million are included in notes payable as of June 30, 2023 and December 31, 2022, 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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