Debt of the Operating Partnership (Tables)

3 Months Ended

Mar. 31, 2023

Debt of the Operating Partnership

Summary of Outstanding Indebtedness of the Operating Partnership

	March 31, 2023				December 31, 2022
	Weighted-				Weighted-
	average		Amount		average		Amount
	interest rate		Outstanding		interest rate		Outstanding
Global revolving credit facilities	4.04	%	$	2,531,056	3.04	%	$	2,167,889
Unsecured term loans	4.44	%		1,552,925	2.49	%		802,875
Unsecured senior notes	2.24	%		13,357,299	2.44	%		13,220,961
Secured and other debt	7.60	%		563,856	7.12	%		532,130
Total	2.85	%	$	18,005,136	2.68	%	$	16,723,855

Schedule of Debt In Functional Currencies

	March 31, 2023				December 31, 2022
	Amount				Amount
Denomination of Draw	Outstanding		% of Total		Outstanding		% of Total
U.S. dollar ($)	$	4,732,822	26.3	%	$	3,855,903	23.1	%
British pound sterling (£)		1,987,491	11.0	%		1,929,051	11.5	%
Euro (€)		9,500,925	52.8	%		9,325,126	55.8	%
Other		1,783,898	9.9	%		1,613,775	9.6	%
Total	$	18,005,136			$	16,723,855

Schedule of Debt Maturities and Principal Maturities

	March 31, 2023				December 31, 2022
	Amount				Amount
Denomination of Draw	Outstanding		% of Total		Outstanding		% of Total
U.S. dollar ($)	$	4,732,822	26.3	%	$	3,855,903	23.1	%
British pound sterling (£)		1,987,491	11.0	%		1,929,051	11.5	%
Euro (€)		9,500,925	52.8	%		9,325,126	55.8	%
Other		1,783,898	9.9	%		1,613,775	9.6	%
Total	$	18,005,136			$	16,723,855

The table below summarizes debt maturities and principal payments as of March 31, 2023 (in thousands):

	Global Revolving		Unsecured		Unsecured		Secured and
	Credit Facilities (1)(2)		Term Loans(3)		Senior Notes		Other Debt		Total Debt
2023	$	—	$	—	$	109,235	$	6,254	$	115,489
2024		—		—		958,765		9,381		968,146
2025		—		1,552,925		1,198,015		—		2,750,940
2026		2,531,056		—		1,465,590		55,744		4,052,390
2027		—		—		1,163,853		135,000		1,298,853
Thereafter		—		—		8,461,841		357,477		8,819,318
Subtotal	$	2,531,056	$	1,552,925	$	13,357,299	$	563,856	$	18,005,136
Unamortized net discounts		—		—		(36,410)		—		(36,410)
Unamortized deferred financing costs		(16,854)		(10,650)		(62,810)		(2,901)		(93,215)
Total	$	2,514,202	$	1,542,275	$	13,258,079	$	560,955	$	17,875,511

(1) Includes amounts outstanding for the Global Revolving Credit Facilities.

(2) The Global Revolving Credit Facilities are subject to two six-month extension options exercisable by us.

(3) A €375.0 million senior unsecured term loan facility is subject to two maturity extension options of one year each. Our U.S. term loan facility of $740 million is subject to one twelve-month extension, provided that the Operating Partnership must pay a 0.1875% extension fee based on the then-outstanding principal amount of the term loans.

Schedule of Unsecured Senior Notes

The following table provides details of our unsecured senior notes (balances in thousands):

	Aggregate Principal Amount at Issuance					Balance as of
	Borrowing Currency		USD		Maturity Date	March 31, 2023		December 31, 2022
0.600% notes due 2023	CHF	100,000	$	108,310	Oct 02, 2023	$	109,235	$	108,121
2.625% notes due 2024	€	600,000		677,040	Apr 15, 2024		650,340		642,300
2.750% notes due 2024	£	250,000		324,925	Jul 19, 2024		308,425		302,075
4.250% notes due 2025	£	400,000		634,480	Jan 17, 2025		493,480		483,320
0.625% notes due 2025	€	650,000		720,980	Jul 15, 2025		704,535		695,825
2.500% notes due 2026	€	1,075,000		1,224,640	Jan 16, 2026		1,165,193		1,150,788
0.200% notes due 2026	CHF	275,000		298,404	Dec 15, 2026		300,397		297,331
1.700% notes due 2027	CHF	150,000		162,465	Mar 30, 2027		163,853		162,181
3.700% notes due 2027(1)	$	1,000,000		1,000,000	Aug 15, 2027		1,000,000		1,000,000
5.550% notes due 2028(1)	$	900,000		900,000	Jan 15, 2028		900,000		900,000
1.125% notes due 2028	€	500,000		548,550	Apr 09, 2028		541,950		535,250
4.450% notes due 2028	$	650,000		650,000	Jul 15, 2028		650,000		650,000
0.550% notes due 2029	CHF	270,000		292,478	Apr 16, 2029		294,936		291,925
3.600% notes due 2029	$	900,000		900,000	Jul 01, 2029		900,000		900,000
3.300% notes due 2029	£	350,000		454,895	Jul 19, 2029		431,795		422,905
1.500% notes due 2030	€	750,000		831,900	Mar 15, 2030		812,925		802,875
3.750% notes due 2030	£	550,000		719,825	Oct 17, 2030		678,535		664,565
1.250% notes due 2031	€	500,000		560,950	Feb 01, 2031		541,950		535,250
0.625% notes due 2031	€	1,000,000		1,220,700	Jul 15, 2031		1,083,900		1,070,500
1.000% notes due 2032	€	750,000		874,500	Jan 15, 2032		812,925		802,875
1.375% notes due 2032	€	750,000		849,375	Jul 18, 2032		812,925		802,875
						$	13,357,299	$	13,220,961
Unamortized discounts, net of premiums							(36,410)		(37,280)
Deferred financing costs, net							(62,810)		(63,648)
Total unsecured senior notes, net of discount and deferred financing costs						$	13,258,079	$	13,120,033

(1) Subject to cross-currency swaps.