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Debt (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Schedule of Debt

Long-term debt consists of the following.

			December 31,
(in thousands)			2024						2023
Fixed mortgage notes payable due 2026 through 2047; weighted average interest rate of 4.65% and 4.26%, as of December 31, 2024 and 2023, respectively			$	2,599,028					$	1,953,414
Variable mortgage notes payable due 2026 through 2030; weighted average interest rate of 6.89% and 7.74% as of December 31, 2024 and 2023, respectively			1,110,642						1,524,907
Convertible notes payable due October 2026; interest rate of 2.00% as of both December 31, 2024 and 2023			23,297						230,000
Convertible notes payable due October 2029; interest rate of 3.50% as of December 31, 2024			369,445						—
Tangible equity units senior amortizing notes due November 2025; interest rate of 10.25% as of both December 31, 2024 and 2023			9,449						17,990
Deferred financing costs, net			(49,074)						(28,998)
Total long-term debt			4,062,787						3,697,313
Current portion			40,779						41,463
Total long-term debt, less current portion			$	4,022,008					$	3,655,850

Schedule of Maturities

The annual aggregate scheduled maturities (including recurring principal payments) of long-term debt outstanding as of December 31, 2024 are as follows (in thousands).

Year Ending December 31,			Long-term Debt			Rate
2025			$	54,534		5.79		%
2026 (1)			424,585			6.09		%
2027			907,183			5.16		%
2028			569,779			5.50		%
2029			822,296			4.38		%
Thereafter			1,333,484			5.14		%
Total obligations			4,111,861			5.15		%
Less amount representing deferred financing costs, net			(49,074)
Total			$	4,062,787

(1)Includes the maturities of $326.1 million of mortgage debt for which the Company has the option to extend the maturities for one additional year subject to the satisfaction of certain conditions.

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Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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