Mortgage Loans Payable, Net - Changes in Carrying Amount of Mortgage Loans Payable, Net (Details) $ in Thousands |
12 Months Ended | ||||
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Dec. 31, 2023
USD ($)
MortgageLoan
|
Dec. 31, 2022
USD ($)
MortgageLoan
|
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Mortgage Loan Activities [Roll Forward] | |||||
Beginning balance | $ 1,229,847 | [1] | $ 1,095,594 | ||
Borrowings under mortgage loans payable | 160,442 | 186,227 | |||
Assumption of mortgage loans payable, net | 10,884 | 149,861 | |||
Amortization of deferred financing costs | 2,284 | 2,332 | |||
Amortization of discount/premium on mortgage loans payable, net | 3,549 | 2,242 | |||
Scheduled principal payments on mortgage loans payable | (64,792) | (104,384) | |||
Early payoff of mortgage loans payable | 9,809 | 90,871 | |||
Payoff of a mortgage loans payable due to disposition of real estate investments | (26,856) | (8,637) | |||
Deferred financing costs | (3,153) | (2,517) | |||
Ending balance | [1] | $ 1,302,396 | $ 1,229,847 | ||
Number of fixed-rate mortgage loans payable | MortgageLoan | 76 | 68 | |||
Mortgage loans payable, gross | $ 1,326,313 | ||||
Minimum | |||||
Mortgage Loan Activities [Roll Forward] | |||||
Effective interest rate (as a percent) | 2.21% | 2.21% | |||
Maximum | |||||
Mortgage Loan Activities [Roll Forward] | |||||
Effective interest rate (as a percent) | 8.46% | 7.26% | |||
Mortgage Loans Payable, Net | |||||
Mortgage Loan Activities [Roll Forward] | |||||
Beginning balance | $ 1,229,847 | ||||
Ending balance | 1,302,396 | $ 1,229,847 | |||
Mortgage loans payable, gross | $ 1,326,313 | $ 1,254,479 | |||
Debt, weighted average interest rate (as a percent) | 4.72% | 5.29% | |||
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