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v3.22.1

Debt, Net - Schedule of Debt (Details) | 3 Months Ended |
--- | --- | ---
Mar. 31, 2022 USD ($) extension | Dec. 31, 2021 USD ($)
Debt |  |
Carrying Value | $ 2,156,784,000 | $ 2,272,304,000
Mortgage and other secured debt |  |
Debt |  |
Carrying Value | 119,967,000 | 120,627,000
Loans payable |  |
Debt |  |
Net deferred financing costs | $ 5,100,000 | 5,800,000
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 | $ 86,331,000 | 86,960,000
Weighted average interest rate (as a percent) | 4.07% |
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 | $ 33,636,000 | 33,667,000
Variable-rate secured debt | Mortgage and other secured debt | London Interbank Offered Rate (LIBOR) |  |
Debt |  |
Weighted average interest rate (as a percent) | 1.75% |
Variable-rate secured debt | Mortgage and other secured debt | Minimum | London Interbank Offered Rate (LIBOR) |  |
Debt |  |
Variable rate, spread | 1.45% |
Variable-rate secured debt | Mortgage and other secured debt | Maximum | London Interbank Offered Rate (LIBOR) |  |
Debt |  |
Variable rate, spread | 1.55% |
Revolving Credit Facility |  |
Debt |  |
Carrying Value | $ 160,000,000 | 76,000,000
Aggregate additional borrowing capacity available | $ 500,000,000 |
Revolving Credit Facility | London Interbank Offered Rate (LIBOR) |  |
Debt |  |
Weighted average interest rate (as a percent) | 1.38% |
Revolving Credit Facility | Minimum | London Interbank Offered Rate (LIBOR) |  |
Debt |  |
Variable rate, spread | 0.775% |
Revolving Credit Facility | Maximum | London Interbank Offered Rate (LIBOR) |  |
Debt |  |
Variable rate, spread | 1.45% |
Term Loan Facility |  |
Debt |  |
Carrying Value | $ 99,855,000 | 299,420,000
Repayments of long-term debt | $ 200,000,000 |
Term Loan Facility | London Interbank Offered Rate (LIBOR) |  |
Debt |  |
Interest rate | 1.48% |
Term Loan Facility | Minimum | London Interbank Offered Rate (LIBOR) |  |
Debt |  |
Variable rate, spread | 1.00% |
Term Loan Facility | Maximum | London Interbank Offered Rate (LIBOR) |  |
Debt |  |
Variable rate, spread | 1.65% |
2.25%, $400,000 aggregate principal | Unsecured senior notes |  |
Debt |  |
Interest rate | 2.25% |
Debt instrument, face amount | $ 400,000,000 |
Carrying Value | 395,751,000 | 395,491,000
Unamortized discount included in carrying value | $ 3,400,000 | 3,600,000
Effective interest rate on debt | 2.48% |
2.00%, $400,000 aggregate principal | Unsecured senior notes |  |
Debt |  |
Interest rate | 2.00% |
Debt instrument, face amount | $ 400,000,000 |
Carrying Value | 396,631,000 | 396,512,000
Unamortized discount included in carrying value | $ 2,400,000 | 2,500,000
Effective interest rate on debt | 2.09% |
2.75%, $600,000 aggregate principal | Unsecured senior notes |  |
Debt |  |
Interest rate | 2.75% |
Debt instrument, face amount | $ 600,000,000 |
Carrying Value | 589,323,000 | 589,060,000
Unamortized discount included in carrying value | $ 9,200,000 | 9,500,000
Effective interest rate on debt | 2.94% |
2.90%, $400,000 aggregate principal | Unsecured senior notes |  |
Debt |  |
Interest rate | 2.90% |
Debt instrument, face amount | $ 400,000,000 |
Carrying Value | 394,542,000 | 394,441,000
Unamortized discount included in carrying value | $ 4,500,000 |
Effective interest rate on debt | 3.01% |
Unsecured note payable |  |
Debt |  |
Interest rate | 0.00% |
Carrying Value | $ 715,000 | 753,000
Unamortized discount included in carrying value | $ 96,000 | $ 108,000

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