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Debt (Tables)
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Debt
The following is a summary of our debt:
(Amounts in thousands)
Weighted Average Interest Rate as of June 30, 2026(1)
Balance as of
June 30, 2026December 31, 2025
Mortgages Payable:
Fixed rate(2)
4.98%$3,340,000 $3,415,000 
Variable rate(3)
5.48%1,529,543 1,529,037 
Total5.14%4,869,543 4,944,037 
Deferred financing costs, net and other(24,813)(23,368)
Total, net$4,844,730 $4,920,669 
Unsecured Debt:
Senior unsecured notes4.78%$850,000 $750,000 
Deferred financing costs, net and other(8,060)(2,798)
Senior unsecured notes, net841,940 747,202 
Unsecured term loan4.20%850,000 800,000 
Deferred financing costs, net and other(9,970)(2,663)
Unsecured term loan, net840,030 797,337 
Unsecured revolving credit facilities4.07%918,000 720,420 
Total, net$2,599,970 $2,264,959 
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(1)Represents the interest rate in effect as of period end based on the appropriate reference rate as of the contractual reset date plus contractual spread, adjusted for hedging instruments, as applicable. See Note 15 - Fair Value Measurements for further information on our consolidated hedging instruments.
(2)Includes variable rate mortgages with interest rates fixed by interest rate swap arrangements.
(3)Includes variable rate mortgages subject to interest rate cap arrangements. As of June 30, 2026, $1,285,000 of our variable rate debt is subject to interest rate cap arrangements, of which $645,000 is attributable to noncontrolling interests. The interest rate cap arrangements have a weighted average SOFR strike rate of 4.22% and a weighted average remaining term of seven months.