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v3.24.1.u1

Notes Payable (Summary Of Indebtedness) (Details) - USD ($) $ in Thousands | 3 Months Ended |  |
--- | --- | --- | ---
Mar. 31, 2024 | Jan. 04, 2024 | Dec. 31, 2023
Unsecured notes payable |  | $ 3,223,285 |  | $ 3,385,309
Secured notes payable |  | 330,184 |  | 330,127
Total notes payable (3) | [1] | 3,553,500 |  | 3,715,400
Unsecured Debt |  |  |  |
Unsecured notes payable |  | 3,223,300 |  | 3,385,300
Senior Unsecured Notes [Member] |  |  |  |
Unsecured notes payable |  | $ 3,183,300 |  | 3,045,400
Senior Unsecured Notes [Member] | 4.36% Notes Due 2024 |  |  |  |
Debt Instrument, Maturity Date |  | Jan. 15, 2024 |  |
Notes payable, effective interest rate |  | 4.36% | 4.36% |
Unsecured notes payable |  | $ 0 |  | 250,000
Senior Unsecured Notes [Member] | 3.68% Notes Due 2024 |  |  |  |
Debt Instrument, Maturity Date |  | Sep. 15, 2024 |  |
Notes payable, effective interest rate |  | 3.68% |  |
Unsecured notes payable |  | $ 249,800 |  | 249,700
Senior Unsecured Notes [Member] | 6.76% Notes Due 2026 |  |  |  |
Debt Instrument, Maturity Date |  | Nov. 03, 2026 |  |
Notes payable, effective interest rate |  | 6.76% |  |
Unsecured notes payable | [2] | $ 501,100 |  | 508,600
Senior Unsecured Notes [Member] | 3.74% Notes Due 2028 |  |  |  |
Debt Instrument, Maturity Date |  | Oct. 15, 2028 |  |
Notes payable, effective interest rate |  | 3.74% |  |
Unsecured notes payable |  | $ 398,800 |  | 398,700
Senior Unsecured Notes [Member] | 3.67% Notes Due 2029 |  |  |  |
Debt Instrument, Maturity Date |  | Jul. 01, 2029 |  |
Notes payable, effective interest rate |  | 3.67% |  |
Unsecured notes payable | [3] | $ 596,300 |  | 596,100
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 |  | $ 745,500 |  | 745,400
Senior Unsecured Notes [Member] | 5.06% Notes Due 2034 |  |  |  |
Debt Instrument, Maturity Date |  | Jan. 15, 2034 |  |
Notes payable, effective interest rate |  | 5.06% |  |
Unsecured notes payable |  | $ 394,900 |  | 0
Senior Unsecured Notes [Member] | 3.41% Notes Due 2049 |  |  |  |
Debt Instrument, Maturity Date |  | Nov. 01, 2049 |  |
Notes payable, effective interest rate |  | 3.41% |  |
Unsecured notes payable |  | $ 296,900 |  | 296,900
Senior Unsecured Notes [Member] | 5.85% Notes Due 2026 |  |  |  |
Notes payable, effective interest rate |  | 5.85% |  |
Secured Debt | 3.78% - 4.04% Conventional Mortgage Notes, due 2026 - 2028 |  |  |  |
Secured notes payable |  | $ 291,300 |  | 291,300
Secured Debt | 3.87% note, due 2028 |  |  |  |
Debt Instrument, Maturity Date |  | Jan. 01, 2028 |  |
Notes payable, effective interest rate |  | 3.87% |  |
Secured notes payable |  | $ 38,900 |  | 38,800
Commercial Banks [Member] |  |  |  |
Unsecured notes payable |  | $ 40,000 |  | 339,900
Commercial Banks [Member] | 6.55% Term Loan, due 2024 |  |  |  |
Debt Instrument, Maturity Date |  | Sep. 30, 2024 |  |
Notes payable, effective interest rate |  | 6.55% |  |
Unsecured notes payable |  | $ 40,000 |  | 39,900
Commercial Banks [Member] | 6.21% Term Loan, due 2024 |  |  |  |
Debt Instrument, Maturity Date |  | Aug. 30, 2024 |  |
Notes payable, effective interest rate |  | 6.21% | 6.21% |
Unsecured notes payable |  | $ 0 |  | $ 300,000
Commercial Banks [Member] | 6.13% Unsecured revolving credit facility |  |  |  |
Notes payable, effective interest rate |  | 6.13% |  |
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% |  |
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% |  |
[1] | Unamortized debt discounts, debt issuance costs, and fair market value adjustments of $17.5 million and $5.5 million are included in notes payable as of March 31, 2024 and December 31, 2023, respectively.
[2] | Balance includes $3.8 million and $11.6 million fair value adjustments due to changes in benchmark interest rates related to these notes as of March 31, 2024 and December 31, 2023, respectively. See Note 7, "Derivative Financial Instruments and Hedging Activities," for further discussion.
[3] | 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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