Debt of the Operating Partnership (Tables)

6 Months Ended

Jun. 30, 2023

Debt of the Operating Partnership

Summary of Outstanding Indebtedness of the Operating Partnership

	June 30, 2023				December 31, 2022
	Weighted-				Weighted-
	average		Amount		average		Amount
	interest rate		Outstanding		interest rate		Outstanding
Global revolving credit facilities	4.18	%	$	2,257,864	3.04	%	$	2,167,889
Unsecured term loans	4.59	%		1,558,175	2.49	%		802,875
Unsecured senior notes	2.24	%		13,479,366	2.44	%		13,220,961
Secured and other debt	7.72	%		560,795	7.12	%		532,130
Total	2.86	%	$	17,856,200	2.68	%	$	16,723,855

Schedule of Debt In Functional Currencies

	June 30, 2023				December 31, 2022
	Amount				Amount
Denomination of Draw	Outstanding		% of Total		Outstanding		% of Total
U.S. dollar ($)	$	2,783,488	15.6	%	$	3,855,903	23.1	%
British pound sterling (£)		1,968,965	11.0	%		1,929,051	11.5	%
Euro (€)		11,302,553	63.3	%		9,325,126	55.8	%
Other		1,801,194	10.1	%		1,613,775	9.6	%
Total	$	17,856,200			$	16,723,855

Schedule of Debt Maturities and Principal Maturities

The table below summarizes debt maturities and principal payments as of June 30, 2023 (in thousands):

	Global Revolving		Unsecured		Unsecured		Secured and
	Credit Facilities (1)(2)		Term Loans(3)		Senior Notes		Other Debt		Total Debt
2023	$	—	$	—	$	111,665	$	113	$	111,778
2024		—		—		972,115		4,558		976,673
2025		—		1,558,175		1,217,205		569		2,775,949
2026		2,257,864		—		1,479,795		96,922		3,834,581
2027		—		—		1,167,497		203,385		1,370,882
Thereafter		—		—		8,531,089		255,248		8,786,337
Subtotal	$	2,257,864	$	1,558,175	$	13,479,366	$	560,795	$	17,856,200
Unamortized net discounts		—		—		(35,380)		—		(35,380)
Unamortized deferred financing costs		(15,606)		(9,395)		(60,167)		(6,201)		(91,369)
Total	$	2,242,258	$	1,548,780	$	13,383,819	$	554,594	$	17,729,451

(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	June 30, 2023		December 31, 2022
0.600% notes due 2023	CHF	100,000	$	108,310	Oct 02, 2023	$	111,665	$	108,121
2.625% notes due 2024	€	600,000		677,040	Apr 15, 2024		654,540		642,300
2.750% notes due 2024	£	250,000		324,925	Jul 19, 2024		317,575		302,075
4.250% notes due 2025	£	400,000		634,480	Jan 17, 2025		508,120		483,320
0.625% notes due 2025	€	650,000		720,980	Jul 15, 2025		709,085		695,825
2.500% notes due 2026	€	1,075,000		1,224,640	Jan 16, 2026		1,172,718		1,150,788
0.200% notes due 2026	CHF	275,000		298,404	Dec 15, 2026		307,077		297,331
1.700% notes due 2027	CHF	150,000		162,465	Mar 30, 2027		167,497		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		545,450		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		301,494		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		444,605		422,905
1.500% notes due 2030	€	750,000		831,900	Mar 15, 2030		818,175		802,875
3.750% notes due 2030	£	550,000		719,825	Oct 17, 2030		698,665		664,565
1.250% notes due 2031	€	500,000		560,950	Feb 01, 2031		545,450		535,250
0.625% notes due 2031	€	1,000,000		1,220,700	Jul 15, 2031		1,090,900		1,070,500
1.000% notes due 2032	€	750,000		874,500	Jan 15, 2032		818,175		802,875
1.375% notes due 2032	€	750,000		849,375	Jul 18, 2032		818,175		802,875
						$	13,479,366	$	13,220,961
Unamortized discounts, net of premiums							(35,380)		(37,280)
Deferred financing costs, net							(60,167)		(63,648)
Total unsecured senior notes, net of discount and deferred financing costs						$	13,383,819	$	13,120,033

(1) Subject to cross-currency swaps.