SENIOR NOTES PAYABLE AND OTHER DEBT (Tables)

3 Months Ended

Mar. 31, 2023

Debt Disclosure [Abstract]

Summary of Senior Notes Payable and Other Debt

The following is a summary of our senior notes payable and other debt (dollars in thousands):

	As of March 31, 2023		As of December 31, 2022
Unsecured revolving credit facility (1)(2)	$	40,210	$	25,230
Commercial paper notes	425,000		403,000
2.55% Senior Notes, Series D due 2023 (2)	—		202,967
3.50% Senior Notes due 2024	400,000		400,000
3.75% Senior Notes due 2024	400,000		400,000
4.125% Senior Notes, Series B due 2024 (2)	184,980		184,515
2.80% Senior Notes, Series E due 2024 (2)	443,951		442,837
Unsecured term loan due 2025 (2)	369,959		369,031
3.50% Senior Notes due 2025	600,000		600,000
2.65% Senior Notes due 2025	450,000		450,000
4.125% Senior Notes due 2026	500,000		500,000
3.25% Senior Notes due 2026	450,000		450,000
Unsecured term loan due 2027	500,000		500,000
2.45% Senior Notes, Series G due 2027 (2)	351,461		350,579
3.85% Senior Notes due 2027	400,000		400,000
4.00% Senior Notes due 2028	650,000		650,000
4.40% Senior Notes due 2029	750,000		750,000
3.00% Senior Notes due 2030	650,000		650,000
4.75% Senior Notes due 2030	500,000		500,000
2.50% Senior Notes due 2031	500,000		500,000
3.30% Senior Notes, Series H due 2031 (2)	221,976		221,419
6.90% Senior Notes due 2037 (3)	52,400		52,400
6.59% Senior Notes due 2038 (3)	22,823		22,823
5.70% Senior Notes due 2043	300,000		300,000
4.375% Senior Notes due 2045	300,000		300,000
4.875% Senior Notes due 2049	300,000		300,000
Mortgage loans and other	2,644,183		2,436,443
Total	12,406,943		12,361,244
Deferred financing costs, net	(62,321)		(63,410)
Unamortized fair value adjustment	21,485		23,535
Unamortized discounts	(23,601)		(24,589)
Senior notes payable and other debt	$	12,342,506	$	12,296,780

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(1)As of March 31, 2023 and December 31, 2022, respectively, $18.5 million and $3.7 million of aggregate borrowings were denominated in Canadian dollars. Aggregate borrowings of $21.7 million and $21.5 million were denominated in British pounds as of March 31, 2023 and December 31, 2022, respectively.

(2)British Pound and Canadian Dollar debt obligations shown in US Dollars.

(3)Our 6.90% senior notes due 2037 are subject to repurchase at the option of the holders, at par, on October 1, 2027, and our 6.59% senior notes due 2038 are subject to repurchase at the option of the holders, at par, on July 7 in each of 2023 and 2028.

Scheduled Maturities of Borrowing Arrangements and Other Provisions Excluding Capital Lease Obligations

As of March 31, 2023, our indebtedness had the following maturities (dollars in thousands):

	Principal Amount Due at Maturity		Unsecured Revolving Credit Facility and Commercial Paper Notes (1)(2)		Scheduled Periodic Amortization		Total Maturities
2023	$	133,125	$	—	$	40,145	$	173,270
2024	1,704,464		—		48,983		1,753,447
2025	2,017,550		465,210		43,802		2,526,562
2026	1,049,484		—		37,605		1,087,089
2027	1,329,048		—		37,348		1,366,396
Thereafter	5,347,575		—		152,604		5,500,179
Total maturities	$	11,581,246	$	465,210	$	360,487	$	12,406,943

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(1)At March 31, 2023, we had $319.9 million of borrowings outstanding under our unsecured revolving credit facility and commercial paper program, net of $145.4 million of unrestricted cash and cash equivalents.

(2)    Commercial paper program borrowings are backstopped by the revolving credit facility. As such, our commercial paper program balances are presented at the maturity date of the revolving credit facility.