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Notes Payable (Tables) | 12 Months Ended
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Dec. 31, 2024
Debt Disclosure [Abstract] |
Components of Notes Payable | Notes payable consists of the following:
(in thousands) |  | December 31, |
|  | 2024 |  |  | 2023 |
Unsecured revolving lines of credit and term loan |  | $ | 415,440 |  |  | $ | 588,000 |
2.35% Series E senior notes due in 2026 |  |  | 60,000 |  |  |  | 60,000 |
2.57% Series D senior notes due in 2028 |  |  | 40,000 |  |  |  | 40,000 |
6.25% Series F senior notes due in 2030 |  |  | 75,000 |  |  |  | 75,000 |
|  |  | 590,440 |  |  |  | 763,000 |
Unamortized debt issuance cost |  |  | (232 | ) |  |  | (25 | )
|  | $ | 590,208 |  |  | $ | 762,975 |
Schedule of Future Minimum Payments under Unsecured Revolving Lines of Credit 2.35% Senior Notes, 2.57% Senior Notes and 6.25% Senior Notes | As of December 31, 2024, the future minimum payments under the unsecured revolving lines of credit, 2.35% Series E senior notes, 2.57% Series D senior notes and 6.25% Series F senior notes due in 2026, 2028 and 2030, respectively, are as follows:
(in thousands) |  |  |
Year Ended December 31, |  |  |
2025 |  | $ | — |
2026 |  |  | 60,000 |
2027 |  |  | 415,440 |
2028 |  |  | 40,000 |
2029 |  |  | — |
Thereafter |  |  | 75,000 |
|  | $ | 590,440 |
Schedule of Information Related to Lines of Credit | The following information relates to the lines of credit for each of the following periods:
(dollar amounts in thousands) |  | Year Ended December 31, |
|  | 2024 |  |  | 2023 |
Maximum amount outstanding |  | $ | 631,101 |  |  | $ | 591,000 |
Average amount outstanding |  | $ | 555,225 |  |  | $ | 541,635 |
Weighted average interest rate, during the period |  |  | 6.94 | % |  |  | 6.63 | %
Prime interest rate, end of period |  |  | 7.50 | % |  |  | 8.50 | %

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