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v3.25.2

Debt - Unsecured Term Loan (Details) - USD ($) $ in Thousands | 1 Months Ended | 6 Months Ended |
--- | --- | --- | ---
Jul. 31, 2023 | Jun. 30, 2025 | Dec. 31, 2024
Total principal |  | $ 3,250,399 |
Interest rate swaps |  |  |
Derivative Notional Amount |  | 350,000 | $ 550,000
Unsecured Loan |  |  |
Total principal |  | 350,000 | 350,000
Unamortized debt issuance costs and assumed debt discounts, net |  | (2,233) | (2,548)
Total |  | $ 347,767 | 347,452
Unsecured Loan | 2029 Unsecured term loan |  |  |
All-in Interest Rate |  | 4.52% |
Total principal |  | $ 350,000 | $ 350,000
Credit spread on variable rate |  | 0.85% |
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration] |  | us-gaap:SecuredOvernightFinancingRateSofrMember |
Debt instrument, face amount | $ 350,000 | $ 350,000 |
Hedge, fixed interest rate |  | 3.57% |
Additional lender commitments | $ 500,000 |  |
Variable rate | 0.10% | 0.10% |
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration] |  | us-gaap:SecuredOvernightFinancingRateSofrMember |
Debt Instrument, Term | 5 years 6 months |  |
Spread on variable rate | 0.95% |  |
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration] |  | us-gaap:SecuredOvernightFinancingRateSofrMember |
Unsecured Loan | 2029 Unsecured term loan | Minimum |  |  |
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration] | us-gaap:SecuredOvernightFinancingRateSofrMember |  |
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration] | us-gaap:SecuredOvernightFinancingRateSofrMember |  |
Spread on variable rate | 0.80% |  |
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration] | us-gaap:SecuredOvernightFinancingRateSofrMember |  |
Unsecured Loan | 2029 Unsecured term loan | Maximum |  |  |
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration] | us-gaap:SecuredOvernightFinancingRateSofrMember |  |
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration] | us-gaap:SecuredOvernightFinancingRateSofrMember |  |
Spread on variable rate | 1.60% |  |
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration] | us-gaap:SecuredOvernightFinancingRateSofrMember |  |
Unsecured Loan | 2029 Unsecured term loan | Interest Rate Swap Agreement In June 2023 |  |  |
Hedge, fixed interest rate | 3.57% |  |
Derivative Notional Amount | $ 350,000 |  |

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- Definition Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (b)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481139/470-20-50-4 + Details
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