Indebtedness (Tables)

9 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Summary of Information Concerning Indebtedness

The following tables contain summary information concerning our consolidated indebtedness, as of September 30, 2024:

Consolidated Debt:	Outstanding Principal		Unamortized Debt Issuance Costs		Unamortized Loan (Discount)/Premiums		Carrying  Amount		Type	Weighted Average Contractual Rate (2)	Weighted Average Hedged Effective Rate (3)	Weighted Average Maturity (in years)
Unsecured   revolver (1)	$	191,478	$	(803)	$	—	$	190,675	Floating	6.6%	4.8%	1.3
Unsecured term  loans	600,000		(1,992)		—		598,008		Floating	6.5%	4.0%	2.8
Secured credit  facilities	585,635		(1,847)		18,230		602,018		Fixed	4.2%	4.4%	4.2
Mortgages	883,869		(3,458)		15,740		896,151		Fixed	3.8%	4.0%	3.6
Private placement  notes (4)	—		(158)		—		(158)			—	—	—
Total  Consolidated   Debt	$	2,260,982	$	(8,258)	$	33,970	$	2,286,694		4.9%	4.2%	3.3

(1)The unsecured revolver total capacity is $500,000, of which $191,478 was outstanding as of September 30, 2024.

(2)Represents the weighted average of the contractual interest rates in effect as of the three months ended September 30, 2024, without regard to any interest rate swaps or collars.

(3)Represents the weighted average effective interest rates for the three months ended September 30, 2024, including the impact of interest rate swaps and collars, the amortization of hedging costs, and deferred financing costs, but excluding the impact of loan premium amortization, discount accretion, and interest capitalization.

(4)Represents the unamortized debt issuance costs associated with the Private Placement described above.

The following table contains summary information concerning our consolidated indebtedness, including indebtedness secured by real estate held for sale, as of December 31, 2023:

Consolidated Debt:	Outstanding Principal		Unamortized Debt Issuance Costs		Unamortized Loan (Discount)/Premiums		Carrying Amount		Type	Weighted Average Contractual Rate (3)	Weighted Average Hedged Effective Rate (4)	Weighted Average Maturity (in years)
Unsecured  revolver (1)	$	234,479	$	(1,117)	$	—	$	233,362	Floating	6.6%	5.4%	2.1
Unsecured term  loans	600,000		(2,456)		—		597,544		Floating	6.5%	3.9%	3.5
Secured credit  facilities	586,286		(1,949)		21,762		606,099		Floating/Fixed	4.2%	4.6%	4.9
Mortgages (2)	1,094,933		(5,250)		22,721		1,112,404		Fixed	3.8%	4.0%	4.3
Total  Consolidated   Debt	$	2,515,698	$	(10,772)	$	44,483	$	2,549,409		4.8%	4.2%	4.0

(1)The unsecured revolver total capacity was $500,000, of which $234,479 was outstanding as of December 31, 2023.

(2)Includes indebtedness secured by real estate held for sale of $122,621.

(3)Represents the weighted average of the contractual interest rates in effect as of year-end December 31, 2023, without regard to any interest rate swaps or collars.

(4)Represents the total weighted average effective interest rates for the full year ended December 31, 2023, after giving effect to all components of interest expense including the impact of interest rate swaps and collars, but excluding the impact of loan premium amortization, discount accretion, and interest capitalization.

Summary of Maturities of Long-term Debt

The following table contains summary information concerning our consolidated indebtedness as of September 30, 2024:

	Scheduled maturities on our consolidated indebtedness outstanding as of September 30, 2024
Consolidated Debt:	2024		2025		2026		2027		2028		Thereafter
Unsecured revolver	$	—	$	—	$	191,478	$	—	$	—	$	—
Unsecured term loans	—		—		200,000		—		400,000		—
Secured credit facilities	—		3,065		9,111		10,081		453,937		109,441
Mortgages	14,694		132,964		127,772		12,341		179,861		416,237
Total	$	14,694	$	136,029	$	528,361	$	22,422	$	1,033,798	$	525,678