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Notes and Bonds Payable (Tables)

9 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Schedule of Debt

The table below details the Company’s notes and bonds payable as of September 30, 2024, and December 31, 2023. 

			MATURITY DATE			BALANCE 1 AS OF						EFFECTIVE INTEREST RATE as of 9/30/2024
Dollars in thousands						9/30/2024			12/31/2023
$1.5 billion Unsecured Credit Facility 2			10/25			$	206,000		$	—		5.79		%
$200 million Unsecured Term Loan 3			5/25			199,833			199,903			6.24		%
$350 million Unsecured Term Loan 4,5			7/25			99,740			349,798			6.24		%
$300 million Unsecured Term Loan			10/25			299,975			299,958			6.24		%
$150 million Unsecured Term Loan			6/26			149,753			149,643			6.24		%
$200 million Unsecured Term Loan			7/27			199,606			199,502			6.24		%
$300 million Unsecured Term Loan			1/28			298,603			298,288			6.24		%
Senior Notes due 2025			5/25			249,771			249,484			4.12		%
Senior Notes due 2026			8/26			584,836			579,017			4.94		%
Senior Notes due 2027			7/27			486,990			483,727			4.76		%
Senior Notes due 2028			1/28			297,877			297,429			3.85		%
Senior Notes due 2030			2/30			583,330			575,443			5.30		%
Senior Notes due 2030			3/30			297,086			296,780			2.72		%
Senior Notes due 2031			3/31			296,214			295,832			2.25		%
Senior Notes due 2031			3/31			662,719			649,521			5.13		%
Mortgage notes payable			9/24-12/26			45,463			70,534			3.57% - 6.88%
						$	4,957,796		$	4,994,859

1Balance is presented net of discounts and issuance costs and inclusive of premiums, where applicable.

2As of September 30, 2024, the Company had $1.3 billion available to be drawn on its $1.5 billion Unsecured Credit Facility.

3In April 2024, the Company exercised its option to extend the maturity date for one year to May 2025 for a fee of approximately $0.3 million.

4In June 2024, the Company repaid $100 million of the initial $350 million Unsecured Term Loan and exercised its second option to extend the maturity date for one year to July 2025 for a fee of approximately $0.3 million.

5In September 2024, the Company repaid an additional $150 million of the $350 million Unsecured Term Loan. In October 2024, the Company repaid the remaining $100 million outstanding on this loan.

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- Definition

Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

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