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v3.23.1

Debt - Summary of Consolidated Indebtedness (Parenthetical) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended
--- | --- | ---
Mar. 31, 2023 | Sep. 30, 2022 | Jun. 30, 2022 | Dec. 31, 2022
Debt Instrument [Line Items] |  |  |  |  |
Long-term debt, gross | [1],[2] | $ 1,758,133 |  |  | $ 1,805,414
Interest Rate Caps |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Long-term debt, gross |  | 144,500 |  |  | $ 103,800
PRIME |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Basis spread on variable rate |  |  |  |  | 1.00%
SOFR |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Basis spread on variable rate |  |  | 2.61% | 2.56% |
Total Debt - Variable Rate Debt Fixed with Interest Rate Swap Agreements |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Long-term debt, gross |  | $ 1,207,500 |  |  | $ 1,264,000
Core Portfolio | Variable Rate Debt |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Basis spread on variable rate |  | 4.53% |  |  |
Fund Portfolio | Mortgages |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Long-term debt, gross |  | $ 424,662 |  |  | $ 426,224
Minimum | Core Portfolio | Unsecured Debt |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Basis spread on variable rate |  | 3.72% |  |  |
Minimum | Core Portfolio | Unsecured Line of Credit [Member] | SOFR |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Basis spread on variable rate |  | 1.50% |  |  |
Maximum | Core Portfolio | Unsecured Debt |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Basis spread on variable rate |  | 5.24% |  |  |
Fund II | Variable Rate Debt | SOFR | Mortgages |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Basis spread on variable rate | [3] | 2.61% |  |  | 2.61%
Fund II | Fund Portfolio | Mortgages |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Long-term debt, gross |  | $ 133,655 |  |  | $ 133,655
Fund II | Fund Portfolio | Variable Rate Debt | SOFR |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Basis spread on variable rate |  | 2.61% |  |  |
Fund III | Fund Portfolio |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Long-term debt, gross |  |  |  |  | $ 35,970
Fund III | Fund Portfolio | Mortgages |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Long-term debt, gross |  | $ 35,970 |  |  |
Fund III | Fund Portfolio | Variable Rate Debt | SOFR |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Basis spread on variable rate |  | 3.35% |  |  |
Fund III | Maximum | Fund Portfolio | Variable Rate Debt | SOFR | Mortgages |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Basis spread on variable rate | [3] |  |  |  | 3.35%
Fund IV |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Long-term debt, gross |  | $ 39,200 |  |  | $ 39,200
Fund IV | Fund Portfolio | Mortgages |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Long-term debt, gross | [4] | $ 146,091 |  |  | $ 146,230
Fund IV | Minimum | Fund Portfolio | Variable Rate Debt | LIBOR |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Basis spread on variable rate |  | 2.25% |  |  |
Fund IV | Minimum | Fund Portfolio | Variable Rate Debt | LIBOR | Mortgages |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Basis spread on variable rate | [3],[4] | 2.25% |  |  | 2.25%
Fund IV | Maximum | Fund Portfolio | Variable Rate Debt | LIBOR |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Basis spread on variable rate |  | 3.65% |  |  |
Fund IV | Maximum | Fund Portfolio | Variable Rate Debt | LIBOR | Mortgages |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Basis spread on variable rate | [3],[4] | 3.65% |  |  | 3.65%
Fund V | Fund Portfolio | Variable Rate Debt | LIBOR | Mortgages |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Basis spread on variable rate | [3] |  |  |  | 1.85%
Fund V | Fund Portfolio | Variable Rate Debt | SOFR | Mortgages |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Basis spread on variable rate | [3] |  |  |  | 2.76%
Fund V | Minimum | Fund Portfolio | Variable Rate Debt | SOFR |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Basis spread on variable rate |  | 1.61% |  |  |
Fund V | Minimum | Fund Portfolio | Variable Rate Debt | SOFR | Mortgages |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Basis spread on variable rate | [3] | 1.61% |  |  |
Fund V | Maximum | Fund Portfolio | Variable Rate Debt | SOFR |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Basis spread on variable rate |  | 2.76% |  |  |
Fund V | Maximum | Fund Portfolio | Variable Rate Debt | SOFR | Mortgages |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Basis spread on variable rate | [3] | 2.76% |  |  |
[1] | Includes $1,207.5 million and $1,264.0 million, respectively, of variable-rate debt that has been fixed with interest rate swap agreements as of the periods presented.
[2] | Includes $144.5 million and $103.8 million, respectively, of variable-rate debt that is subject to interest cap agreements as of the periods presented.
[3] | At March 31, 2023, the stated rates ranged from 4.53% for Core variable-rate debt; SOFR + 2.61% for Fund II variable-rate debt; SOFR + 3.35% for Fund III variable-rate debt; LIBOR + 2.25% to LIBOR + 3.65% for Fund IV variable-rate debt; SOFR + 1.61% to SOFR + 2.76% for Fund V variable-rate debt; 3.72%-5.24% for Core variable-rate unsecured term loans; and SOFR + 1.50% for Core variable-rate unsecured lines of credit.
[4] | Includes the outstanding balance on the Fund IV secured bridge facility of $39.2 million at each of March 31, 2023 and December 31, 2022.

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