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v3.23.1

Debt (Tables) | 3 Months Ended
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Mar. 31, 2023
Schedule of maturities of long-term debt | The following table presents scheduled principal payments related to the Company’s debt as of March 31, 2023 (presented in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Scheduled |  | Balloon |  | ​ | ​
​ | Principal | ​ | Payment | ​ | Total
Remainder of 2023 | $ | 683 | ​ | $ | 4,622 | ​ | $ | 5,305
2024 | ​ | 963 | ​ | ​ | — | ​ | ​ | 963
2025 |  | 1,026 | ​ |  | 50,000 | ​ |  | 51,026
2026 (1) |  | 629 | ​ |  | 196,000 | ​ |  | 196,629
2027 | ​ | — | ​ | ​ | 50,000 | ​ | ​ | 50,000
Thereafter |  | — | ​ |  | 1,752,250 | ​ |  | 1,752,250
Total scheduled principal payments | $ | 3,301 | ​ | $ | 2,052,872 | ​ | $ | 2,056,173
| (1) | The Revolving Credit Facility matures in January 2026, with options to extend the maturity to January 2027. The Revolving Credit Facility had a $196.0 million outstanding balance as of March 31, 2023.
Mortgages [Member] |
Schedule of long-term debt instruments | Mortgage notes payable consisted of the following (presented in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | March 31, 2023 |  | December 31, 2022
Note payable in monthly installments of interest only at 5.01% per annum, with a balloon payment due September 2023 | ​ | $ | 4,622 | ​ | $ | 4,622
​ | ​ |  | ​ | ​ |  |
Note payable in monthly installments of $92 including interest at 6.27% per annum, with a final monthly payment due July 2026 | ​ | ​ | 3,301 | ​ | ​ | 3,523
​ | ​ | ​ | ​ | ​ | ​ | ​
Note payable in monthly installments of interest only at 3.63% per annum, with a balloon payment due December 2029 | ​ |  | 42,250 | ​ |  | 42,250
​ | ​ |  |  | ​ |  |
Total principal | ​ |  | 50,173 | ​ |  | 50,395
Unamortized debt issuance costs and assumed debt discount, net | ​ |  | (2,331) | ​ |  | (2,424)
Total | ​ | $ | 47,842 | ​ | $ | 47,971
​
Senior Unsecured Notes [Member] |
Schedule of long-term debt instruments | The following table presents the senior unsecured notes principal balances net of unamortized debt issuance costs and original issue discounts for the Company’s private placement and public offerings as of March 31, 2023 and December 31, 2022 (presented in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | All-in | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Interest Rate (1) | ​ | Maturity | ​ | March 31, 2023 |  | December 31, 2022
2025 Senior Unsecured Notes | 4.16 | % | ​ | May 2025 | ​ | $ | 50,000 | ​ | $ | 50,000
2027 Senior Unsecured Notes | 4.26 | % | ​ | May 2027 | ​ |  | 50,000 | ​ |  | 50,000
2028 Senior Unsecured Public Notes (2) | 2.11 | % | ​ | June 2028 | ​ |  | 350,000 | ​ |  | 350,000
2028 Senior Unsecured Notes | 4.42 | % | ​ | July 2028 | ​ | ​ | 60,000 | ​ | ​ | 60,000
2029 Senior Unsecured Notes | 4.19 | % | ​ | September 2029 | ​ |  | 100,000 | ​ |  | 100,000
2030 Senior Unsecured Notes | 4.32 | % | ​ | September 2030 | ​ |  | 125,000 | ​ |  | 125,000
2030 Senior Unsecured Public Notes (3) | 3.49 | % | ​ | October 2030 | ​ | ​ | 350,000 | ​ | ​ | 350,000
2031 Senior Unsecured Notes (4) | 4.42 | % | ​ | October 2031 | ​ | ​ | 125,000 | ​ | ​ | 125,000
2032 Senior Unsecured Public Notes (5) | 3.96 | % | ​ | October 2032 | ​ | ​ | 300,000 | ​ | ​ | 300,000
2033 Senior Unsecured Public Notes (6) | 2.13 | % | ​ | June 2033 | ​ |  | 300,000 | ​ | ​ | 300,000
Total Principal | ​ | ​ | ​ | ​ | ​ |  | 1,810,000 | ​ |  | 1,810,000
Unamortized debt issuance costs and original issue discounts, net | ​ | ​ | ​ | ​ | ​ |  | (17,389) | ​ |  | (17,953)
Total | ​ | ​ | ​ | ​ | ​ | $ | 1,792,611 | ​ | $ | 1,792,047
(1) The all-in interest rate reflects the straight-line amortization of the terminated swap agreements, as applicable. (2) The 2028 Senior Unsecured Public Notes’ stated coupon rate is 2.00%. (3) The 2030 Senior Unsecured Public Notes’ stated coupon rate is 2.90%. (4) The 2031 Senior Unsecured Notes’ stated coupon rate is 4.47%. (5) The 2032 Senior Unsecured Public Notes’ stated coupon rate is 4.80%. (6) The 2033 Senior Unsecured Public Notes’ stated coupon rate is 2.60%. ​

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