Debt (Tables)

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

Summary of company's mortgage notes payable, unsecured notes and Credit Facility excluding mortgage notes secured by communities classified as held for sale

The following amounts and discussion do not include the mortgage notes related to the communities classified as held for sale, if any, as of September 30, 2022 and December 31, 2021, as shown in the accompanying Condensed Consolidated Balance Sheets (dollars in thousands) (see Note 6, "Real Estate Disposition Activities").

	9/30/2022		12/31/2021
Fixed rate unsecured notes (1)	$	7,150,000	$	7,150,000
Term Loans (1)	150,000		250,000
Fixed rate mortgage notes payable - conventional and tax-exempt (2)	270,677		306,281
Variable rate mortgage notes payable - conventional and tax-exempt (2)	457,350		464,150
Total mortgage notes payable and unsecured notes and Term Loans	8,028,027		8,170,431
Credit Facility	—		—
Commercial paper	49,985		—
Total	$	8,078,012	$	8,170,431

_____________________________________

(1)Balances at September 30, 2022 and December 31, 2021 exclude $8,784 and $10,033, respectively, of debt discount, and $36,851 and $40,573, respectively, of deferred financing costs, as reflected in unsecured notes, net on the accompanying Condensed Consolidated Balance Sheets.

(2)Balances at September 30, 2022 and December 31, 2021 exclude $12,696 and $13,528, respectively, of debt discount, and $1,722 and $2,750, respectively, of deferred financing costs, as reflected in mortgage notes payable, net on the accompanying Condensed Consolidated Balance Sheets.

Scheduled payments and maturities of mortgage notes payable and unsecured notes outstanding

In addition to the Commercial Paper Program, scheduled payments and maturities of secured notes payable and unsecured notes outstanding at September 30, 2022 were as follows (dollars in thousands):

Year	Secured notes principal payments		Secured notes maturities		Unsecured notes and Term Loan maturities		Stated interest rate of unsecured notes and Term Loan
2022	$	800	$	—	$	—	—
2023	8,300		—		350,000		4.200	%
					250,000		2.850	%
2024	9,100		—		300,000		3.500	%
					150,000		LIBOR + 0.85%
2025	9,700		—		525,000		3.450	%
					300,000		3.500	%
2026	10,600		—		475,000		2.950	%
					300,000		2.900	%
2027	12,900		236,100		400,000		3.350	%
2028	17,600		—		450,000		3.200	%
					400,000		1.900	%
2029	8,500		66,250		450,000		3.300	%
2030	9,000		—		700,000		2.300	%
2031	9,600		—		600,000		2.450	%
Thereafter	84,288		245,289		700,000		2.050	%
					350,000		3.900	%
					300,000		4.150	%
					300,000		4.350	%
	$	180,388	$	547,639	$	7,300,000