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Notes and Bonds Payable | 3 Months Ended
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Mar. 31, 2025
Debt Disclosure [Abstract] |
Notes and Bonds Payable | Notes and Bonds Payable The table below details the Company’s notes and bonds payable as of March 31, 2025 and December 31, 2024.
| MATURITY DATE | BALANCE 1 AS OF | EFFECTIVE INTEREST RATE as of 3/31/2025
Dollars in thousands | 3/31/2025 | 12/31/2024
$1.5 billion Unsecured Credit Facility 2 | 10/25 | $ | 94,000 |  | $ | — |  | 5.27 | %
$200 million Unsecured Term Loan 3 | 5/25 | 174,958 |  | 199,896 |  | 5.37 | %
$300 million Unsecured Term Loan 4 | 10/25 | 289,987 |  | 299,981 |  | 5.37 | %
$150 million Unsecured Term Loan | 6/26 | 149,827 |  | 149,790 |  | 5.37 | %
$200 million Unsecured Term Loan | 7/27 | 199,676 |  | 199,641 |  | 5.37 | %
$300 million Unsecured Term Loan | 1/28 | 298,812 |  | 298,708 |  | 5.37 | %
Senior Notes due 2025 | 5/25 | 249,967 |  | 249,868 |  | 4.12 | %
Senior Notes due 2026 | 8/26 | 588,837 |  | 586,824 |  | 4.94 | %
Senior Notes due 2027 | 7/27 | 489,231 |  | 488,104 |  | 4.76 | %
Senior Notes due 2028 | 1/28 | 298,183 |  | 298,029 |  | 3.85 | %
Senior Notes due 2030 | 2/30 | 588,763 |  | 586,028 |  | 5.30 | %
Senior Notes due 2030 | 3/30 | 297,294 |  | 297,190 |  | 2.72 | %
Senior Notes due 2031 | 3/31 | 296,472 |  | 296,343 |  | 2.25 | %
Senior Notes due 2031 | 3/31 | 671,804 |  | 667,233 |  | 5.13 | %
Mortgage notes payable | 12/25-12/26 | 44,807 |  | 45,136 |  | 3.57% - 6.88%
|  | $ | 4,732,618 |  | $ | 4,662,771 |  |
1 Balance is presented net of discounts and issuance costs and inclusive of premiums, where applicable. 2 As of March 31, 2025, the Company had $1.4 billion available to be drawn on its $1.5 billion Unsecured Credit Facility. 3 In January 2025, the Company repaid $25 million of the $200 million Unsecured term Loan. 4 In January 2025, the Company repaid $10 million of the $300 million Unsecured term Loan. Subsequent Debt Activity In April 2025, the Company exercised its second of two options to extend the maturity date of the $200 million Unsecured Term Loan due May 2025 to January 2026 for a fee of approximately $0.1 million. The loan also was amended to include a four-month extension option, resulting in a latest final maturity in May 2026. On May 1, 2025, the Company repaid its Senior Notes due 2025 at maturity including $250 million of principal and $4.8 million of accrued interest.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-6 Reference 2: 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