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Indebtedness (Tables) | 12 Months Ended
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Dec. 31, 2023
Debt Disclosure [Abstract] |
Summary of Indebtedness | The following table discloses certain information regarding our indebtedness:
| Outstanding Balance at |  | Interest Rate at December 31, 2023 |  | Effective Interest Rate at Issuance |  | Maturity Date
| December 31, 2023 |  | December 31, 2022 |
Mortgage Loan Payable | $ | 9,978 |  |  | $ | 10,299 |  |  | 4.17% |  | 4.17% |  | 8/1/2028
Senior Unsecured Notes, Gross |  |  |  |  |  |  |  |  |
2027 Notes | 6,070 |  |  | 6,070 |  |  | 7.15% |  | 7.11% |  | 5/15/2027
2028 Notes | 31,901 |  |  | 31,901 |  |  | 7.60% |  | 8.13% |  | 7/15/2028
2032 Notes | 10,600 |  |  | 10,600 |  |  | 7.75% |  | 7.87% |  | 4/15/2032
2027 Private Placement Notes | 125,000 |  |  | 125,000 |  |  | 4.30% |  | 4.30% |  | 4/20/2027
2028 Private Placement Notes | 150,000 |  |  | 150,000 |  |  | 3.86% |  | 3.86% |  | 2/15/2028
2029 Private Placement Notes | 75,000 |  |  | 75,000 |  |  | 4.40% |  | 4.40% |  | 4/20/2029
2029 II Private Placement Notes | 150,000 |  |  | 150,000 |  |  | 3.97% |  | 4.23% |  | 7/23/2029
2030 Private Placement Notes | 150,000 |  |  | 150,000 |  |  | 3.96% |  | 3.96% |  | 2/15/2030
2030 II Private Placement Notes | 100,000 |  |  | 100,000 |  |  | 2.74% |  | 2.74% |  | 9/17/2030
2032 Private Placement Notes | 200,000 |  |  | 200,000 |  |  | 2.84% |  | 2.84% |  | 9/17/2032
Subtotal | $ | 998,571 |  |  | $ | 998,571 |  |  |  |  |  |  |
Unamortized Debt Issuance Costs | (4,062) |  |  | (4,777) |  |  |  |  |  |  |
Unamortized Discounts | (46) |  |  | (52) |  |  |  |  |  |  |
Senior Unsecured Notes, Net | $ | 994,463 |  |  | $ | 993,742 |  |  |  |  |  |  |
Unsecured Term Loans, Gross |  |  |  |  |  |  |  |  |
2021 Unsecured Term Loan (A) | 200,000 |  |  | 200,000 |  |  | 1.81% |  | N/A |  | 7/7/2026
2022 Unsecured Term Loan (A) | 425,000 |  |  | 425,000 |  |  | 3.64% |  | N/A |  | 10/18/2027
2022 Unsecured Term Loan II (A)(B) | 300,000 |  |  | 300,000 |  |  | 4.88% |  | N/A |  | 8/12/2025
Subtotal | $ | 925,000 |  |  | $ | 925,000 |  |  |  |  |  |  |
Unamortized Debt Issuance Costs | (4,137) |  |  | (5,740) |  |  |  |  |  |  |
Unsecured Term Loans, Net | $ | 920,863 |  |  | $ | 919,260 |  |  |  |  |  |  |
Unsecured Credit Facility (C) | $ | 299,000 |  |  | $ | 143,000 |  |  | 6.19% |  | N/A |  | 7/7/2025
(A) The interest rate at December 31, 2023 includes the impact of derivative instruments which effectively convert the variable rate of the debt to a fixed rate. See Note 12. (B) At our option, we may extend the maturity pursuant to two, one-year extension options, subject to certain conditions. (C) At our option, we may extend the maturity pursuant to two, six-month extension options, subject to certain conditions. Amounts exclude unamortized debt issuance costs of $2,036 and $3,285 as of December 31, 2023 and 2022, respectively, which are included in the line item Prepaid Expenses and Other Assets, Net on the Consolidated Balance Sheets.
Schedule of Maturities | The following is a schedule of the stated maturities and scheduled principal payments of our indebtedness, exclusive of discounts and debt issuance costs, for the next five years as of December 31, and thereafter:
| Amount
2024 | $ | 334 |
2025 | 599,349 |
2026 | 200,364 |
2027 | 556,449 |
2028 | 190,453 |
Thereafter | 685,600 |
Total | $ | 2,232,549 |
Summary of Indebtedness at Estimated Fair Value | At December 31, 2023 and 2022, the fair value of our indebtedness was as follows:
| December 31, 2023 |  | December 31, 2022
| Carrying Amount (A) |  | Fair Value |  | Carrying Amount (A) |  | Fair Value
Mortgage Loan Payable | $ | 9,978 |  |  | $ | 9,666 |  |  | $ | 10,299 |  |  | $ | 9,765 |
Senior Unsecured Notes, Net | 998,525 |  |  | 902,042 |  |  | 998,519 |  |  | 883,444 |
Unsecured Term Loans | 925,000 |  |  | 925,000 |  |  | 925,000 |  |  | 909,187 |
Unsecured Credit Facility | 299,000 |  |  | 299,000 |  |  | 143,000 |  |  | 143,000 |
Total | $ | 2,232,503 |  |  | $ | 2,135,708 |  |  | $ | 2,076,818 |  |  | $ | 1,945,396 |
(A) The carrying amounts include unamortized discounts and exclude unamortized debt issuance costs.

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