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v3.21.1

Debt, Net - Schedule of Debt (Details) | 3 Months Ended |  |
--- | --- | --- | ---
Mar. 31, 2021 USD ($) extension | Mar. 11, 2021 USD ($) | Dec. 31, 2020 USD ($)
Debt |  |  |
Carrying Value | $ 2,207,903,000 |  | $ 2,086,918,000
Mortgage and other secured debt |  |  |
Debt |  |  |
Carrying Value | 258,596,000 |  | 255,110,000
Loans payable |  |  |
Debt |  |  |
Debt issuance costs | $ 6,700,000 |  | 5,900,000
Line of Credit | Revolving Credit Facility |  |  |
Debt |  |  |
Number of extensions | extension | 2 |  |
Extension option period (in years) | 6 months |  |
Line of credit facility, extension fee percentage | 0.075% |  |
Fixed rate mortgage debt | Mortgage and other secured debt |  |  |
Debt |  |  |
Carrying Value | $ 139,099,000 |  | 139,991,000
Unamortized premium included in carrying value | $ 139,000 |  | 155,000
Weighted average interest rate (as a percent) | 4.16% |  |
Fixed rate mortgage debt | Mortgage and other secured debt | Minimum |  |  |
Debt |  |  |
Interest rate | 3.82% |  |
Fixed rate mortgage debt | Mortgage and other secured debt | Maximum |  |  |
Debt |  |  |
Interest rate | 4.62% |  |
Variable-rate secured debt | Mortgage and other secured debt |  |  |
Debt |  |  |
Carrying Value | $ 119,497,000 |  | 115,119,000
Weighted average interest rate (as a percent) | 2.24% |  |
Variable-rate secured debt | Mortgage and other secured debt | Minimum |  |  |
Debt |  |  |
Variable rate, spread | 1.45% |  |
Variable-rate secured debt | Mortgage and other secured debt | Maximum |  |  |
Debt |  |  |
Variable rate, spread | 2.35% |  |
Construction Loan | Mortgage and other secured debt | London Interbank Offered Rate (LIBOR) |  |  |
Debt |  |  |
Remaining borrowing capacity | $ 25,000,000.0 |  |
Revolving Credit Facility |  |  |
Debt |  |  |
Carrying Value | 0 |  | 143,000,000
Aggregate additional borrowing capacity available | $ 500,000,000.0 |  |
Revolving Credit Facility | Minimum |  |  |
Debt |  |  |
Variable rate, spread | 0.775% |  |
Revolving Credit Facility | Maximum |  |  |
Debt |  |  |
Variable rate, spread | 1.45% |  |
Term Loan Facility |  |  |
Debt |  |  |
Interest rate | 1.12% |  |
Carrying Value | $ 398,642,000 |  | 398,447,000
Term Loan Facility | Minimum |  |  |
Debt |  |  |
Variable rate, spread | 1.00% |  |
Term Loan Facility | Maximum |  |  |
Debt |  |  |
Variable rate, spread | 1.65% |  |
3.60%, $350,000 aggregate principal | Unsecured senior notes |  |  |
Debt |  |  |
Interest rate | 3.60% |  |
Debt instrument, face amount | $ 350,000,000 |  |
Carrying Value | 165,105,000 |  | 348,888,000
Unamortized discount included in carrying value | $ 331,000 |  | 781,000
Effective interest rate on debt | 3.70% |  |
5.25%, $250,000 aggregate principal | Unsecured senior notes |  |  |
Debt |  |  |
Interest rate | 5.25% |  |
Debt instrument, face amount | $ 250,000,000 |  |
Carrying Value | 103,689,000 |  | 248,194,000
Unamortized discount included in carrying value | $ 630,000 |  | 1,600,000
Effective interest rate on debt | 5.49% |  |
5.00%, $300,000 aggregate principal | Unsecured senior notes |  |  |
Debt |  |  |
Interest rate | 5.00% |  |
Debt instrument, face amount | $ 300,000,000 |  |
Carrying Value | 298,020,000 |  | 297,915,000
Unamortized discount included in carrying value | $ 1,700,000 |  | 1,800,000
Effective interest rate on debt | 5.15% |  |
2.25%, $400,000 aggregate principal | Unsecured senior notes |  |  |
Debt |  |  |
Interest rate | 2.25% |  |
Debt instrument, face amount | $ 400,000,000 |  |
Carrying Value | 394,719,000 |  | 394,464,000
Unamortized discount included in carrying value | $ 4,300,000 |  | 4,500,000
Effective interest rate on debt | 2.48% |  |
2.75%, $600,000 aggregate principal | Unsecured senior notes |  |  |
Debt |  |  |
Interest rate | 2.75% |  |
Debt instrument, face amount | $ 600,000,000 | $ 600,000,000.0 |
Carrying Value | 588,268,000 |  | 0
Unamortized discount included in carrying value | $ 10,100,000 |  |
Effective interest rate on debt | 2.94% |  |
Unsecured note payable |  |  |
Debt |  |  |
Interest rate | 0.00% |  |
Carrying Value | $ 864,000 |  | 900,000
Unamortized discount included in carrying value | $ 147,000 |  | $ 161,000

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