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DEBT OBLIGATIONS (Tables)
 12 Months Ended
Dec. 31, 2022
Debt Disclosure [Abstract]  
Schedule of Consolidated Debt Obligations
The following table sets forth information regarding the Company’s consolidated debt obligations outstanding as of December 31, 2022 and 2021 (in thousands):
December 31, 2022December 31, 2021Effective
Interest Rate		Maturity
Date
UNSECURED DEBT
$600 million Unsecured Credit Facility
$88,500 $23,000 
SOFR + 1.15%
June 2026
Unsecured Term Loan250,000 250,000 
SOFR + 1.30%
June 2027(a)
$350.0M 3.95% Guaranteed Notes due 2023
54,301 350,000 3.87%February 2023(b)
$350.0M 4.10% Guaranteed Notes due 2024
350,000 350,000 3.78%October 2024
$450.0M 3.95% Guaranteed Notes due 2027
450,000 450,000 4.03%November 2027
$350.0M 7.55% Guaranteed Notes due 2028
350,000 — 7.73%March 2028
$350.0M 4.55% Guaranteed Notes due 2029
350,000 350,000 4.30%October 2029
Indenture IA (Preferred Trust I)27,062 27,062 
LIBOR + 1.25%
March 2035
Indenture IB (Preferred Trust I) 25,774 25,774 
LIBOR + 1.25%
April 2035
Indenture II (Preferred Trust II)25,774 25,774 
LIBOR + 1.25%
July 2035
Principal balance outstanding1,971,411 1,851,610 
Plus: original issue premium (discount), net2,934 8,187 
Less: deferred financing costs(9,307)(6,211)
Total unsecured indebtedness$1,965,038 $1,853,586 
(a)On November 23, 2022, the unsecured term loan of $250.0 million was swapped to a fixed rate of 5.01% and matures on June 30, 2027. The effective date of the swap is January 31, 2023.
(b)Remaining balance was redeemed on January 20, 2023.
Schedule of Maturities of Long-term Debt
As of December 31, 2022, the aggregate principal payments of the unconsolidated real estate ventures recourse and non-recourse debt payable to third-parties are as follows (in thousands):
2023$388,789 
2024593,907 
202560,118 
2026161,965 
2027— 
Thereafter— 
Total principal payments1,204,779 
Net deferred financing costs(6,837)
Net original issue premium271 
Outstanding indebtedness$1,198,213 
As of December 31, 2022, the aggregate scheduled principal payments on the Company's debt obligations were as follows (in thousands):
2023$54,301 
2024350,000 
2025— 
202688,500 
2027700,000 
Thereafter778,610 
Total principal payments1,971,411 
Net unamortized premiums/(discounts)2,934 
Net deferred financing costs(9,307)
Outstanding indebtedness$1,965,038