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Indebtedness (Tables)
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Information Concerning Indebtedness
The following tables contain summary information concerning our consolidated indebtedness, including indebtedness secured by real estate held for sale as of December 31, 2024:
Debt:Outstanding PrincipalUnamortized Debt Issuance CostsUnamortized Loan (Discount)/PremiumsCarrying AmountType
Weighted
Average Contractual Rate (3)
Weighted Average Effective Rate (4)
Weighted
Average
Maturity
(in years)
Unsecured
 revolver (1)
$194,478 $(526)$— $193,952 Floating5.5%4.8%4.0
Unsecured
 term loans		600,000 (1,831)— 598,169 Floating5.6%4.0%2.5
Secured
 credit
  facilities		585,635 (1,901)17,034 600,768 Fixed4.2%4.4%3.9
Mortgages (2)780,794 (3,175)14,687 792,306 Fixed3.8%4.0%3.7
Unsecured
  notes		150,000 (1,512)— 148,488 Fixed5.4%5.6%8.3
Total Debt$2,310,907 $(8,945)$31,721 $2,333,683 4.6%4.3%3.8
(1)The unsecured revolver total capacity was $500,000, of which $194,478 was outstanding as of December 31, 2024. On January 8, 2025, we amended and restated our unsecured credit agreement, which increased our revolver capacity to $750,000, and extended the maturity date of borrowings under the unsecured revolver to January 8, 2029.
(2)Includes indebtedness secured by real estate held for sale of $59,032.
(3)Represents the weighted average of the contractual interest rates in effect as of year-end without regard to any interest rate swaps or collars.
(4)Represents the total weighted average effective interest rate for the three months ended December 31, 2024, including the impact of interest rate swaps and collars, the amortization of hedging costs, and deferred financing costs, but excluding the impact of loan premium amortization, discount accretion, and interest capitalization.
The following table contains summary information concerning our consolidated indebtedness as of December 31, 2023:
Debt:Outstanding PrincipalUnamortized Debt Issuance CostsUnamortized Loan (Discount)/PremiumsCarrying
 Amount		Type
Weighted
Average Contractual Rate (3)
Weighted
Average Effective Rate (4)
Weighted
Average
Maturity
(in years)
Unsecured revolver (1)
$234,479 $(1,117)$— $233,362 Floating6.6%5.4%2.1
Unsecured term loans600,000 (2,456)— 597,544 Floating6.5%3.9%3.5
Secured credit
  facilities		586,286 (1,949)21,762 606,099 Floating/Fixed4.2%4.6%4.9
Mortgages (2)1,094,933 (5,250)22,721 1,112,404 Fixed3.8%4.0%4.3
Total Debt$2,515,698 $(10,772)$44,483 $2,549,409 4.8%4.2%4.0
(1)The unsecured revolver total capacity was $500,000, of which $234,479 was outstanding as of December 31, 2023.
(2)Includes indebtedness secured by real estate held for sale of $122,621.
(3)Represents the weighted average of the contractual interest rates in effect as of year-end December 31, 2023 without regard to any interest rate swaps or collars.
(4)Represents the total weighted average effective interest rates for the full year ended December 31, 2023, after giving effect to all components of interest expense including the impact of interest rate swaps and collars, but excluding the impact of loan premium amortization, discount accretion, and interest capitalization.
As of December 31, 2024 we were in compliance with all financial covenants contained in our consolidated indebtedness.
Schedule of Maturities of Long-Term Debt
Original maturities on or before December 31,
Debt:20252026202720282029Thereafter
Unsecured revolver (1)$— $194,478 $— $— $— $— 
Unsecured term loans— 200,000 — 400,000 — — 
Secured credit facilities3,065 9,111 10,081 453,937 2,669 106,772 
Mortgages (2)44,780 127,773 12,341 179,861 416,039 — 
Unsecured notes— — — — — 150,000 
Total$47,845 $531,362 $22,422 $1,033,798 $418,708 $256,772 
(1)The unsecured revolver total capacity was $500,000, of which $194,478 was outstanding as of December 31, 2024. On January 8, 2025, we amended and restated our unsecured credit agreement, which increased our revolver capacity to $750,000, and extended the maturity date of borrowings under the unsecured revolver to January 8, 2029.
(2)Includes indebtedness secured by real estate held for sale of $59,032.
Schedule of Mortgage Payoffs
The following table summarizes the mortgage payoffs during the years ended December 31, 2024 and 2023:
AmountWeighted Average Interest Rate
Mortgage payoffs in 2023
$121,018 5.87 %
Mortgage payoffs in 2024
303,464 3.83 %
$424,482 4.41 %