XML 54 R42.htm IDEA: XBRL DOCUMENT v3.25.2
Note 5 - Indebtedness - Schedule of Long-Term Debt (Details) - USD ($)
$ in Thousands
 6 Months Ended 12 Months Ended
Jun. 30, 2025
Dec. 31, 2024
Debt Instrument, Outstanding Principal $ 2,236,897 $ 2,310,907
Debt Instrument, Unamortized Debt Issuance Costs (12,565) (8,945)
Debt Instrument, Unamortized Discount (Premium) 25,469 31,721
Debt Instrument, Carrying Amount 2,249,801 2,333,683
Mortgages [Member]    
Debt Instrument, Outstanding Principal 686,370 780,794 [1]
Debt Instrument, Unamortized Debt Issuance Costs (2,626) (3,175) [1]
Debt Instrument, Unamortized Discount (Premium) 10,856 14,687 [1]
Debt Instrument, Carrying Amount 694,600 792,306 [1]
Unsecured Debt [Member]    
Debt Instrument, Outstanding Principal 150,000 150,000
Debt Instrument, Unamortized Debt Issuance Costs (1,494) (1,512)
Debt Instrument, Unamortized Discount (Premium) 0 0
Debt Instrument, Carrying Amount $ 148,506 $ 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 4.20% [4] 4.30% [5]
Debt Instrument, Weighted Average Maturity (Year) 3 years 4 months 24 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 4 months 24 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) 7 years 9 months 18 days 8 years 3 months 18 days
Unsecured Revolver [Member]    
Debt Instrument, Outstanding Principal $ 214,892 [6] $ 194,478 [7]
Debt Instrument, Unamortized Debt Issuance Costs (5,258) [6] (526) [7]
Debt Instrument, Unamortized Discount (Premium) 0 [6] 0 [7]
Debt Instrument, Carrying Amount $ 209,634 [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 6 months [6] 4 years [7]
Unsecured Term Loans [Member]    
Debt Instrument, Outstanding Principal $ 600,000 $ 600,000
Debt Instrument, Unamortized Debt Issuance Costs (1,488) (1,831)
Debt Instrument, Unamortized Discount (Premium) 0 0
Debt Instrument, Carrying Amount $ 598,512 $ 598,169
Unsecured Term Loans [Member] | Weighted Average [Member]    
Debt Instrument, Weighted Average Contractual Rate 5.10% [2] 5.60% [3]
Debt Instrument, Weighted Average Effective Rate 3.60% [4] 4.00% [5]
Debt Instrument, Weighted Average Maturity (Year) 2 years 2 years 6 months
Secured Credit Facilities [Member]    
Debt Instrument, Outstanding Principal $ 585,635 $ 585,635
Debt Instrument, Unamortized Debt Issuance Costs (1,699) (1,901)
Debt Instrument, Unamortized Discount (Premium) 14,613 17,034
Debt Instrument, Carrying Amount $ 598,549 $ 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 4 months 24 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 June 30, 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 June 30, 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 $214,892 was outstanding as of June 30, 2025.
[7] The unsecured revolver total capacity was $500,000, of which $194,478 was outstanding as of December 31, 2024.