Debt of the Operating Partnership (Tables)

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Schedule of Debt

The Operating Partnership had the following principal amounts outstanding on the debt guaranteed by the Company (in thousands):

	As of
	June 30, 2024		December 31, 2023
Unsecured lines of credit	$	35,000	$	13,000
Unsecured term loan	$	325,000	$	325,000

The debt of the Operating Partnership consisted of the following (in thousands):

							As of				As of
							June 30, 2024				December 31, 2023
	Stated Interest Rate(s)				Maturity Date	Maturity Date With Extension Option	Principal		Book Value(1)		Principal		Book Value(1)
Senior, unsecured notes:
Senior notes	3.125%				September 2026		$	350,000	$	348,755	$	350,000	$	348,467
Senior notes	3.875%				July 2027		300,000		298,749		300,000		298,546
Senior notes	2.750%				September 2031		400,000		393,268		400,000		392,827
Unsecured term loan(4)	Adj SOFR		+	0.94%	January 2027	January 2028	325,000		322,752		325,000		322,322
Mortgages payable:
Atlantic City(2) (3)	6.44	%	-	7.65%	December 2024- December 2026		9,817		10,010		12,336		12,613
Southaven	Adj SOFR		+	2.00%	October 2026	October 2027	51,700		51,477		51,700		51,428
Unsecured lines of credit	Adj SOFR		+	0.85%	April 2028	April 2029	35,000		35,000		13,000		13,000
Total							$	1,471,517	$	1,460,011	$	1,452,036	$	1,439,203

(1)Includes premiums, discounts and unamortized debt origination costs. These costs were $11.5 million and $12.8 million as of June 30, 2024 and December 31, 2023, respectively. This excludes $8.3 million and $2.1 million of unamortized debt origination costs related to the unsecured lines of credit for the periods ended June 30, 2024 and December 31, 2023, respectively, recorded in prepaids and other assets in the consolidated balance sheet.

(2)The effective interest rate assigned during the purchase price allocation to the Atlantic City mortgages assumed during the acquisition in 2011 was 5.05%.

(3)Principal and interest due monthly with remaining principal due at maturity.

(4)As of June 12, 2024, the interest rate spread improved by 1 basis point as the Company exceeded the sustainability metric threshold.

Schedule of Maturities of Long-term Debt

Maturities and principal amortization of the existing long-term debt as of June 30, 2024 for the next five years and thereafter are as follows (in thousands):

Calendar Year	Amount
For the remainder of 2024	$	2,611
2025	1,501
2026	407,405
2027	625,000
2028	35,000
Thereafter	400,000
Subtotal	1,471,517
Net discount and debt origination costs	(11,506)
Total	$	1,460,011