Debt (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of maturities of long-term debt

The following table presents scheduled principal payments related to the Company’s debt as of December 31, 2022 (presented in thousands):

	Scheduled		Balloon
	Principal		Payment		Total
2023	$	905	$	4,622	$	5,527
2024		963		—		963
2025		1,026		50,000		51,026
2026 (1)		629		100,000		100,629
2027		—		50,000		50,000
Thereafter		—		1,752,250		1,752,250
Total scheduled principal payments	$	3,523	$	1,956,872	$	1,960,395

(1) The Revolving Credit Facility matures in January 2026, with options to extend the maturity to January 2027. The Revolving Credit Facility had a balance of $100.0 million as of December 31, 2022.

Mortgages [Member]

Schedule of long-term debt instruments

Mortgages notes payable consisted of the following (presented in thousands):

	December 31, 2022		December 31, 2021
Note payable in monthly installments of interest only at 3.60% per annum, with a balloon payment paid in December 2022	$	—	$	23,640
Note payable in monthly installments of interest only at 5.01% per annum, with a balloon payment due September 2023		4,622		4,622
Note payable in monthly installments of $92 including interest at 6.27% per annum, with a final monthly payment due July 2026		3,523		4,373
Note payable in monthly installments of interest only at 3.63% per annum, with a balloon payment due December 2029		42,250		—
Total principal		50,395		32,635
Unamortized debt issuance costs and assumed debt discount		(2,424)		(206)
Total	$	47,971	$	32,429

Senior Unsecured Notes [Member]

Schedule of long-term debt instruments

The following table presents the senior unsecured notes principal balances net of unamortized debt issuance costs and original issue discounts for the Company’s private placement and public offerings as of December 31, 2022, and 2021 (presented in thousands):

	All-in
	Interest Rate		Maturity	December 31, 2022		December 31, 2021
2025 Senior Unsecured Notes	4.16	%	May 2025	$	50,000	$	50,000
2027 Senior Unsecured Notes	4.26	%	May 2027		50,000		50,000
2028 Senior Unsecured Public Notes	2.11	%	June 2028		350,000		350,000
2028 Senior Unsecured Notes	4.42	%	July 2028		60,000		60,000
2029 Senior Unsecured Notes	4.19	%	September 2029		100,000		100,000
2030 Senior Unsecured Notes	4.32	%	September 2030		125,000		125,000
2030 Senior Unsecured Public Notes	3.49	%	October 2030		350,000		350,000
2031 Senior Unsecured Notes	4.42	%	October 2031		125,000		125,000
2032 Senior Unsecured Public Notes	3.96	%	October 2032		300,000		—
2033 Senior Unsecured Public Notes	2.13	%	June 2033		300,000		300,000
Total Principal					1,810,000		1,510,000
Unamortized debt issuance costs and original issue discount, net					(17,953)		(14,800)
Total				$	1,792,047	$	1,495,200