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Notes Payable (Tables)
 12 Months Ended
Dec. 31, 2022
Notes Payable [Abstract]  
Summary Of Indebtedness
The following is a summary of our indebtedness:
 December 31,
(in millions)20222021
Commercial banks
5.31% Term loan, due 2024
$39.8 $39.9 
5.20% Term loan, due 2024
300.0 — 
5.13% Unsecured revolving credit facility
42.0 — 
$381.8 $39.9 
Senior unsecured notes
3.15% Notes, due 2022
$— $349.3 
5.07% Notes, due 2023
249.8 249.3 
4.36% Notes, due 2024
249.7 249.5 
3.68% Notes, due 2024
249.2 248.8 
3.74% Notes, due 2028
398.3 397.8 
3.67% Notes, due 2029 (1)
595.5 594.9 
2.91% Notes, due 2030
744.8 744.1 
3.41% Notes, due 2049
296.8 296.8 
$2,784.1 $3,130.5 
Total unsecured notes payable$3,165.9 $3,170.4 
Secured notes
  Master Credit Facilities
3.78% - 4.04% Conventional Mortgage Notes, due 2026 - 2028
$291.2 $— 
6.16% Variable Rate Notes, due 2026
166.2 — 
6.49% Variable Rate Construction Note, due 2024
18.9 — 
3.87% note, due 2028
38.7 — 
Total secured notes payable$515.0 $— 
Total notes payable (2)
$3,680.9 $3,170.4 
Value of real estate assets, at cost, subject to secured notes$2,080.9 $— 
(1)The 2029 Notes have an effective annual interest rate of approximately 3.84% through June 2026, which includes the effect of a settled forward interest rate swap, and approximately 3.28% thereafter, for an all-in average effective rate of approximately 3.67%.
(2)Unamortized debt discounts, debt issuance costs, and fair market value adjustments of $18.0 million and $19.6 million are included in senior unsecured notes payable as of December 31, 2022 and 2021, respectively.
Scheduled Repayments On Outstanding Debt The table below is a summary of the maturity dates of our outstanding debt and principal amortizations, and the weighted average interest rates on such debt, at December 31, 2022:
(in millions) (1)
Amount (2)
Weighted Average
Interest Rate (3)
2023$246.6 5.1 
2024556.5 4.2 
2025297.8 5.2 
2026188.9 5.9 
2027214.9 4.1 
Thereafter 2,176.2 3.4 
Total$3,680.9 4.0 %
(1)Includes all available extension options.
(2)Includes amortization of debt discounts, debt issuance costs, and fair market value adjustments.
(3)Includes the effects of the applicable settled forward interest rate swaps.