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v3.23.1

Debt, Net - Schedule of Debt (Details) | 3 Months Ended |
--- | --- | ---
Mar. 31, 2023 USD ($) extension | Dec. 31, 2022 USD ($)
Debt |  |
Carrying Value | $ 2,123,012,000 | $ 2,231,794,000
Mortgage and other secured debt |  |
Debt |  |
Carrying Value | 101,166,000 | 117,751,000
Loans payable |  |
Debt |  |
Net deferred financing costs | $ 5,100,000 | 5,400,000
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 | 0.0625% |
Fixed rate mortgage debt | Mortgage and other secured debt |  |
Debt |  |
Carrying Value | $ 67,954,000 | 84,433,000
Weighted average interest rate (as a percent) | 4.10% |
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 | $ 33,212,000 | 33,318,000
Variable rate secured debt | Mortgage and other secured debt | Secured Overnight Financing Rate |  |
Debt |  |
Variable rate, additional spread | 0.10% |
Weighted average interest rate (as a percent) | 6.20% |
Variable rate secured debt | Mortgage and other secured debt | Secured Overnight Financing Rate | Interest rate swaps |  |
Debt |  |
Weighted average interest rate (as a percent) | 2.45% |
Variable rate secured debt | Mortgage and other secured debt | Minimum | Secured Overnight Financing Rate |  |
Debt |  |
Variable rate, spread | 1.45% |
Variable rate secured debt | Mortgage and other secured debt | Maximum | Secured Overnight Financing Rate |  |
Debt |  |
Variable rate, spread | 1.55% |
Revolving Credit Facility |  |
Debt |  |
Carrying Value | $ 118,000,000 | 211,000,000
Revolving Credit Facility | Secured Overnight Financing Rate |  |
Debt |  |
Variable rate, additional spread | 0.10% |
Weighted average interest rate (as a percent) | 5.84% |
Revolving Credit Facility | Minimum | Secured Overnight Financing Rate |  |
Debt |  |
Variable rate, spread | 0.725% |
Revolving Credit Facility | Maximum | Secured Overnight Financing Rate |  |
Debt |  |
Variable rate, spread | 1.40% |
Term Loan Facility |  |
Debt |  |
Carrying Value | $ 124,034,000 | 123,948,000
Number of extensions | extension | 2 |
Extension option period (in years) | 12 months |
Line of credit facility, extension fee percentage | 0.125% |
Term Loan Facility | Secured Overnight Financing Rate |  |
Debt |  |
Interest rate | 6.07% |
Variable rate, additional spread | 0.10% |
Term Loan Facility | Minimum | Secured Overnight Financing Rate |  |
Debt |  |
Variable rate, spread | 0.85% |
Term Loan Facility | Maximum | Secured Overnight Financing Rate |  |
Debt |  |
Variable rate, spread | 1.70% |
2.25%, $400,000 aggregate principal | Unsecured Senior Notes |  |
Debt |  |
Interest rate | 2.25% |
Debt instrument, face amount | $ 400,000,000 |
Carrying Value | 396,805,000 | 396,539,000
Unamortized discount included in carrying value | $ 2,600,000 | 2,800,000
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 | 397,108,000 | 396,988,000
Unamortized discount included in carrying value | $ 2,100,000 | 2,100,000
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 | 590,392,000 | 590,123,000
Unamortized discount included in carrying value | $ 8,300,000 | 8,500,000
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 | 394,951,000 | 394,848,000
Unamortized discount included in carrying value | $ 4,100,000 | 4,200,000
Effective interest rate on debt | 3.01% |
Unsecured note payable |  |
Debt |  |
Interest rate | 0.00% |
Carrying Value | $ 556,000 | 597,000
Unamortized discount included in carrying value | $ 55,000 | $ 65,000

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