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Senior Secured Notes, Net (Tables)
 3 Months Ended
Mar. 31, 2022
Debt Disclosure [Abstract]  
Schedule of Senior Secured Notes, Net The following table details our secured debt ($ in thousands):
 
Secured Debt
Borrowings Outstanding
 March 31, 2022December 31, 2021
Secured credit facilities$13,117,249 $12,299,580 
Acquisition facility——
Total secured debt$13,117,249 $12,299,580 
Deferred financing costs(1)
(24,841)(19,538)
Net book value of secured debt$13,092,408 $12,280,042 
(1)Costs incurred in connection with our secured debt are recorded on our consolidated balance sheets when incurred and recognized as a component of interest expense over the life of each related facility.
As of March 31, 2022, the following Senior Secured Notes, were outstanding ($ in thousands):
Senior Secured NotesFace ValueInterest Rate
All-in Cost(1)
Maturity
Senior Secured Notes$400,000 3.75 %4.04 %January 15, 2027
(1)Includes transaction expenses that are amortized through interest expense over the life of the Senior Secured Notes.
The following table details the net book value of our Senior Secured Notes on our consolidated balance sheets ($ in thousands):
 March 31, 2022December 31, 2021
Face value$400,000 $400,000 
Deferred financing costs(5,697)(5,990)
Net book value$394,303 $394,010