Notes Payable (Tables)

3 Months Ended

Mar. 31, 2023

Notes Payable [Abstract]

Summary Of Indebtedness

The following is a summary of our indebtedness:

(in millions)	March 31, 2023		December 31, 2022
Commercial banks
5.84% Term Loan, due 2024	$	39.9	$	39.8
5.70% Term Loan, due 2024	300.0		300.0
5.63% Unsecured revolving credit facility	108.0		42.0
	$	447.9	$	381.8
Senior unsecured notes
5.07% Notes, due 2023	249.9		249.8
4.36% Notes, due 2024	249.8		249.7
3.68% Notes, due 2024	249.4		249.2
3.74% Notes, due 2028	398.4		398.3
3.67% Notes, due 2029 (1)	595.6		595.5
2.91% Notes, due 2030	744.9		744.8
3.41% Notes, due 2049	296.8		296.8
	$	2,784.8	$	2,784.1
Total unsecured notes payable	$	3,232.7	$	3,165.9
Secured notes
Master Credit Facilities
3.78% - 4.04% Conventional Mortgage Notes, due 2026 - 2028	$	291.2	$	291.2
6.69% Variable Rate Notes, due 2026	166.3		166.2
6.99% Variable Rate Construction Note, due 2024	18.9		18.9
3.87% note, due 2028	38.7		38.7
Total secured notes payable	$	515.1	$	515.0
Total notes payable (2)	$	3,747.8	$	3,680.9

(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 $17.1 million and $18.0 million are included in notes payable as of March 31, 2023 and December 31, 2022, 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 March 31, 2023:

(in millions) (1)	Amount (2)		Weighted Average  Interest Rate (3)
Remainder of 2023	$	247.5	5.1	%
2024	556.5		4.2
2025	297.8		5.7
2026	188.9		6.4
2027	280.9		4.6
Thereafter	2,176.2		3.4
Total	$	3,747.8	4.1	%

(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.