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Debt (Tables) | 3 Months Ended
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Mar. 31, 2026
Debt Disclosure [Abstract] |
Summary of the mortgage notes payable, unsecured term loans and credit facility | The following table summarizes the Company’s outstanding indebtedness, including borrowings under the Company’s unsecured credit facility, unsecured term loans, unsecured notes, and mortgage note as of March 31, 2026 and December 31, 2025.
|  | Principal Outstanding |  |  |  |
Indebtedness (dollars in thousands) |  | March 31, 2026 |  | December 31, 2025 |  | Weighted Average Interest Rate(1) |  | Weighted Average Years(2)
Unsecured credit facility |  | $ | 200,000 |  |  | $ | 262,000 |  |  | Term SOFR + 0.775% |  | 3.4
Unsecured term loans |  | 1,025,000 |  |  | 1,025,000 |  |  | 3.59 | % |  | 2.9
Unsecured notes |  | 1,975,000 |  |  | 1,975,000 |  |  | 4.84 | % |  | 5.2
Mortgage note |  | 4,042 |  |  | 4,099 |  |  | 3.71 | % |  | 13.5
Total / weighted average |  | $ | 3,204,042 |  |  | $ | 3,266,099 |  |  | 4.42 | % |  | 4.3
(1)Interest rate as of March 31, 2026. At March 31, 2026, the one-month Term Secured Overnight Financing Rate (“Term SOFR”) was 3.6648%. The current interest rate is not adjusted to include the amortization of deferred financing fees or debt issuance costs incurred in obtaining debt or any unamortized fair market value premiums or discounts. The current interest rate includes the impact of interest rate swaps, which effectively fix the interest rate on certain variable rate debt. (2)The weighted average years represents the remaining maturity in years on the principal outstanding as of March 31, 2026, and assumes that any extension options that are exercisable at the discretion of the Company, subject to certain terms and conditions, have been exercised.
Interest Income and Interest Expense Disclosure [Table Text Block] | The following table summarizes the costs included in interest expense related to the Company’s debt arrangements on the accompanying Consolidated Statement of Operations for the three months ended March 31, 2026 and 2025.
|  | Three months ended March 31, |  |
Costs Included in Interest Expense (in thousands) |  | 2026 |  | 2025 |  |  |  |
Amortization of deferred financing fees and debt issuance costs and fair market value discount |  | $ | 1,371 |  |  | $ | 1,301 |  |  |  |  |
Facility, unused, and other fees |  | $ | 435 |  |  | $ | 435 |  |  |  |  |
Schedule of aggregate carrying value of the debt and the corresponding estimate of fair value | The following table summarizes the aggregate principal amount outstanding under the Company’s debt arrangements and the corresponding estimate of fair value as of March 31, 2026 and December 31, 2025.
|  | March 31, 2026 |  | December 31, 2025
Indebtedness (in thousands) |  | Principal Outstanding |  | Fair Value |  | Principal Outstanding |  | Fair Value
Unsecured credit facility |  | $ | 200,000 |  |  | $ | 200,000 |  |  | $ | 262,000 |  |  | $ | 262,000 |
Unsecured term loans |  | 1,025,000 |  |  | 1,025,000 |  |  | 1,025,000 |  |  | 1,025,000 |
Unsecured notes |  | 1,975,000 |  |  | 1,916,138 |  |  | 1,975,000 |  |  | 1,937,338 |
Mortgage note |  | 4,042 |  |  | 3,223 |  |  | 4,099 |  |  | 3,306 |
Total principal amount |  | 3,204,042 |  |  | $ | 3,144,361 |  |  | 3,266,099 |  |  | $ | 3,227,644 |
Unamortized fair market value discount |  | (116) |  |  |  |  | (119) |  |  |
Total unamortized deferred financing fees and debt issuance costs |  | (10,989) |  |  |  |  | (11,665) |  |  |
Total carrying value |  | $ | 3,192,937 |  |  |  |  | $ | 3,254,315 |  |  |

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