Indebtedness (Tables)

12 Months Ended

Dec. 31, 2023

Indebtedness

Schedule of mortgages and unsecured indebtedness

	2023		2022
Fixed-Rate Debt:
Mortgage notes, including $1,977 and $2,436 of net premiums and $10,408 and $11,194 of debt issuance costs, respectively. Weighted average interest and maturity of 3.83% and 3.1 years at December 31, 2023.	$	4,832,884	$	4,580,799
Unsecured notes and Credit Facilities (see below), including $74,968 and $32,421 of net discounts and $125,557 and $76,058 of debt issuance costs, respectively.		20,811,917		18,029,459
Total Fixed-Rate Debt		25,644,801		22,610,258
Variable-Rate Debt:
Mortgage notes, including $4,477 and $5,336 of debt issuance costs, respectively. Weighted average interest and maturity of 5.91% and 1.5 years at December 31, 2023.		328,027		874,442
Unsecured Notes, including $0 and $15,622 of debt issuance costs, respectively.		—		1,412,141
Total Variable-Rate Debt		328,027		2,286,583
Other Debt Obligations		60,595		63,445
Total Mortgages and Unsecured Indebtedness	$	26,033,423	$	24,960,286

Schedule of principal repayments of indebtedness

Our scheduled principal repayments on indebtedness as of December 31, 2023, assuming the obligations remain outstanding through the initial maturities, are as follows:

2024	$	2,946,165
2025		2,639,816
2026		4,759,916
2027		2,466,364
2028		1,153,921
Thereafter		12,220,079
Total principal maturities		26,186,261
Net unamortized debt premium		13,635
Net unamortized debt discount		(86,626)
Debt issuance costs, net		(140,442)
Other Debt Obligations		60,595
Total mortgages and unsecured indebtedness	$	26,033,423

Schedule of cash paid for interest in each period, net of any amounts capitalized

	For the Year Ended December 31,
	2023		2022		2021
Cash paid for interest	$	856,110	$	763,203	$	822,182

Schedule of debt issuance costs

	2023		2022
Debt issuance costs	$	253,178	$	210,893
Accumulated amortization		(112,736)		(102,683)
Debt issuance costs, net	$	140,442	$	108,210

Schedule of debt amortization from continuing operations, included in statements of operations and comprehensive income

	2023		2022		2021
Amortization of debt issuance costs	$	28,660	$	26,113	$	24,794
Amortization of debt discounts/(premiums)		433		7		168

Schedule of fair value of financial instruments and the related discount rate assumptions

	2023			2022
Fair value of consolidated fixed rate mortgages and unsecured indebtedness (in millions)	$	24,248		$	20,020
Weighted average discount rates assumed in calculation of fair value for fixed rate mortgages		6.10	%		6.10	%
Weighted average discount rates assumed in calculation of fair value for unsecured indebtedness		6.10	%		5.87	%