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v3.25.1

Note 5 - Indebtedness - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended
--- | --- | ---
Mar. 31, 2025 | Dec. 31, 2024
Debt Instrument, Outstanding Principal | $ 2,239,895 |  | $ 2,310,907 |
Debt Instrument, Unamortized Debt Issuance Costs | (13,392) |  | (8,945) |
Debt Instrument, Unamortized Discount (Premium) | 27,454 |  | 31,721 |
Debt Instrument, Carrying Amount | 2,253,957 |  | 2,333,683 |
Mortgages [Member] |  |  |  |
Debt Instrument, Outstanding Principal | 706,368 |  | 780,794 | [1]
Debt Instrument, Unamortized Debt Issuance Costs | (2,827) |  | (3,175) | [1]
Debt Instrument, Unamortized Discount (Premium) | 11,626 |  | 14,687 | [1]
Debt Instrument, Carrying Amount | 715,167 |  | 792,306 | [1]
Unsecured Debt [Member] |  |  |  |
Debt Instrument, Outstanding Principal | 150,000 |  | 150,000 |
Debt Instrument, Unamortized Debt Issuance Costs | (1,490) |  | (1,512) |
Debt Instrument, Unamortized Discount (Premium) | 0 |  | 0 |
Debt Instrument, Carrying Amount | $ 148,510 |  | $ 148,488 |
Weighted Average [Member] | All Debt [Member] |  |  |  |
Debt Instrument, Weighted Average Contractual Rate | 4.50% | [2] | 4.60% | [3]
Debt Instrument, Weighted Average Effective Rate | 4.30% | [4] | 4.30% | [5]
Debt Instrument, Weighted Average Maturity (Year) | 3 years 7 months 6 days |  | 3 years 9 months 18 days |
Weighted Average [Member] | Mortgages [Member] |  |  |  |
Debt Instrument, Weighted Average Contractual Rate | 3.80% | [2] | 3.80% | [1],[3]
Debt Instrument, Weighted Average Effective Rate | 4.00% | [4] | 4.00% | [1],[5]
Debt Instrument, Weighted Average Maturity (Year) | 3 years 7 months 6 days |  | 3 years 8 months 12 days | [1]
Weighted Average [Member] | Unsecured Debt [Member] |  |  |  |
Debt Instrument, Weighted Average Contractual Rate | 5.40% | [2] | 5.40% | [3]
Debt Instrument, Weighted Average Effective Rate | 5.60% | [4] | 5.60% | [5]
Debt Instrument, Weighted Average Maturity (Year) | 8 years |  | 8 years 3 months 18 days |
Unsecured Revolver [Member] |  |  |  |
Debt Instrument, Outstanding Principal | $ 197,892 | [6] | $ 194,478 | [7]
Debt Instrument, Unamortized Debt Issuance Costs | (5,618) | [6] | (526) | [7]
Debt Instrument, Unamortized Discount (Premium) | 0 | [6] | 0 | [7]
Debt Instrument, Carrying Amount | $ 192,274 | [6] | $ 193,952 | [7]
Unsecured Revolver [Member] | Weighted Average [Member] |  |  |  |
Debt Instrument, Weighted Average Contractual Rate | 5.10% | [2],[6] | 5.50% | [3],[7]
Debt Instrument, Weighted Average Effective Rate | 4.80% | [4],[6] | 4.80% | [5],[7]
Debt Instrument, Weighted Average Maturity (Year) | 3 years 9 months 18 days | [6] | 4 years | [7]
Unsecured Term Loans [Member] |  |  |  |
Debt Instrument, Outstanding Principal | $ 600,000 |  | $ 600,000 |
Debt Instrument, Unamortized Debt Issuance Costs | (1,659) |  | (1,831) |
Debt Instrument, Unamortized Discount (Premium) | 0 |  | 0 |
Debt Instrument, Carrying Amount | $ 598,341 |  | $ 598,169 |
Unsecured Term Loans [Member] | Weighted Average [Member] |  |  |  |
Debt Instrument, Weighted Average Contractual Rate | 5.20% | [2] | 5.60% | [3]
Debt Instrument, Weighted Average Effective Rate | 4.00% | [4] | 4.00% | [5]
Debt Instrument, Weighted Average Maturity (Year) | 2 years 3 months 18 days |  | 2 years 6 months |
Secured Credit Facilities [Member] |  |  |  |
Debt Instrument, Outstanding Principal | $ 585,635 |  | $ 585,635 |
Debt Instrument, Unamortized Debt Issuance Costs | (1,798) |  | (1,901) |
Debt Instrument, Unamortized Discount (Premium) | 15,828 |  | 17,034 |
Debt Instrument, Carrying Amount | $ 599,665 |  | $ 600,768 |
Secured Credit Facilities [Member] | Weighted Average [Member] |  |  |  |
Debt Instrument, Weighted Average Contractual Rate | 4.20% | [2] | 4.20% | [3]
Debt Instrument, Weighted Average Effective Rate | 4.40% | [4] | 4.40% | [5]
Debt Instrument, Weighted Average Maturity (Year) | 3 years 8 months 12 days |  | 3 years 10 months 24 days |
[1] | Includes indebtedness secured by real estate held for sale of $59,032.
[2] | Represents the weighted average of the contractual interest rates in effect as of the three months ended March 31, 2025, without regard to any interest rate swaps or collars.
[3] | Represents the weighted average of the contractual interest rates in effect as of year-end December 31, 2024, without regard to any interest rate swaps or collars.
[4] | Represents the weighted average effective interest rates for the three months ended March 31, 2025, 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.
[5] | Represents the total weighted average effective interest rates for the full year ended December 31, 2024, 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.
[6] | The unsecured revolver total capacity is $750,000, of which $197,892 was outstanding as of March 31, 2025.
[7] | The unsecured revolver total capacity was $500,000, of which $194,478 was outstanding as of December 31, 2024.

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- Definition Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (b)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481139/470-20-50-4 + Details
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