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Notes and Bonds Payable (Tables)
 12 Months Ended
Dec. 31, 2024
Debt Instrument [Line Items]  
Schedule of debt
 
DECEMBER 31, 1
MATURITY DATES
CONTRACTUAL INTEREST RATESEFFECTIVE INTEREST RATESPRINCIPAL PAYMENTSINTEREST PAYMENTS
Dollars in thousands20242023
$1.5B Unsecured Credit Facility 2
— — 10/25
SOFR + 0.95%
5.30 %At maturityMonthly
$350M Unsecured Term Loan 3
— 349,798 7/25
SOFR + 1.04%
5.59 %At maturityMonthly
$200M Unsecured Term Loan 4
199,896 199,903 5/25
SOFR + 1.04%
5.59 %At maturityMonthly
$150M Unsecured Term Loan
149,790 149,643 6/26
SOFR + 1.04%
5.59 %At maturityMonthly
$300M Unsecured Term Loan 5
299,981 299,958 10/25
SOFR + 1.04%
5.59 %At maturityMonthly
$200M Unsecured Term Loan
199,641 199,502 7/27
SOFR + 1.04%
5.59 %At maturityMonthly
$300M Unsecured Term Loan
298,708 298,288 1/28
SOFR + 1.04%
5.59 %At maturityMonthly
Senior Notes due 2025 249,868 249,484 5/253.88 %4.12 %At maturitySemi-annual
Senior Notes due 2026 586,824 579,017 8/263.50 %4.94 %At maturitySemi-annual
Senior Notes due 2027
488,104 483,727 7/273.75 %4.76 %At maturitySemi-annual
Senior Notes due 2028
298,029 297,429 1/283.63 %3.85 %At maturitySemi-annual
Senior Notes due 2030 586,028 575,443 2/303.10 %5.30 %At maturitySemi-annual
Senior Notes due 2030
297,190 296,780 3/302.40 %2.72 %At maturitySemi-annual
Senior Notes due 2031 296,343 295,832 3/312.05 %2.25 %At maturitySemi-annual
Senior Notes due 2031 667,233 649,521 3/312.00 %5.13 %At maturitySemi-annual
Mortgage notes payable 45,136 70,534 12/25-12/26
    3.60%-4.77%
3.57%-6.88%
MonthlyMonthly
$4,662,771 $4,994,859 
1Balance is presented net of discounts and issuance costs and inclusive of premiums, where applicable.
2As of December 31, 2024, the Company had $1.5 billion available to be drawn on its $1.5 billion Unsecured Credit Facility.
3In 2024, the Company repaid the $350 million Unsecured Term Loan and recognized approximately $0.2 million of accelerated amortization expense included in the loss on extinguishment of debt.
4In April 2024, the Company exercised its option to extend the maturity date for one year to May 2025 for a fee of approximately $0.3 million. On January 7, 2025 the company made a partial repayment of $25 million on the initial $200 million Unsecured Term Loan.
5On January 14, 2025, the company made a partial repayment of $10 million on the initial $300 million Unsecured Term Loan.
Schedule of mortgage notes payable
The following table details the Company’s mortgage notes payable, with related collateral.
 ORIGINAL BALANCE
EFFECTIVE INTEREST RATE 6
MATURITY
DATE
COLLATERAL 7
PRINCIPAL AND
INTEREST PAYMENTS 8
INVESTMENT IN COLLATERAL
at December 31,		BALANCE
at December 31,
Dollars in millions202420242023
Life Insurance Co. 1
13.3 4.13 %1/24MOB
Monthly/10-yr amort.
— — 11.3 
Life Insurance Co. 2
6.8 3.96 %2/24MOB
Monthly/7-yr amort.
— — 5.6 
Financial Services 3
9.7 4.32 %9/24MOB
Monthly/10-yr amort.
— — 7.2 
Life Insurance Co. 4
16.5 3.57 %12/25MOB,OFC
Monthly/7-yr amort.
39.7 15.4 15.9 
Financial Services11.5 3.71 %1/26MOB
Monthly/10-yr amort.
42.3 7.4 7.8 
Life Insurance Co. 5
6.0 6.88 %4/26MOB
Monthly/7-yr amort.
11.8 5.2 5.2 
Life Insurance Co.
19.2 4.08 %12/26MOB
Monthly/10-yr amort.
46.0 17.1 17.5 
$139.8 $45.1 $70.5 
1The unamortized portion of the $0.8 million premium recorded on this note upon acquisition is included in the balance above.
2The unamortized portion of the $0.2 million premium recorded on this note upon acquisition is included in the balance above.
3The unamortized portion of the $0.1 million premium recorded on this note upon acquisition is included in the balance above.
4The unamortized portion of the $0.7 million premium recorded on this note upon acquisition is included in the balance above.
5The unaccreted portion of the $0.3 million discount recorded on this note upon acquisition is included in the balance above.
6The contractual interest rates for the four outstanding mortgage notes ranged from 3.6% to 4.5% as of December 31, 2024.
7MOB-Medical outpatient building; OFC-Office
8Payable in monthly installments of principal and interest with the final payment due at maturity (unless otherwise noted).
Schedule of future contractual maturities of the company's notes and bonds payable
Future maturities of the Company’s notes and bonds payable as of December 31, 2024, were as follows:
Dollars in thousandsPRINCIPAL MATURITIES
NET ACCRETION/
AMORTIZATION 1
DEBT
ISSUANCE COSTS 2
NOTES AND
BONDS PAYABLE		%
2025$766,375 $(43,163)$(2,020)$721,192 15.5 %
2026778,904 (41,837)(1,650)735,417 15.8 %
2027700,000 (36,192)(1,519)662,289 14.2 %
2028600,000 (35,179)(707)564,114 12.1 %
2029— (37,025)(674)(37,699)(0.8)%
2030 and thereafter2,049,286 (31,357)(471)2,017,458 43.2 %
$4,894,565 $(224,753)$(7,041)$4,662,771 100.0 %
1Includes discount accretion and premium amortization related to the Company’s Senior Notes and two mortgage notes payable.
2Excludes approximately $1.8 million in debt issuance costs related to the Company's Unsecured Credit Facility included in other assets, net
Senior Notes  
Debt Instrument [Line Items]  
Schedule of senior notes assumed with the merger
The following table summarizes the Company’s aggregate Senior notes principal balance as of December 31, 2024 and 2023.
 DECEMBER 31,
Dollars in thousands20242023
Senior notes principal balance$3,699,285 $3,699,285 
Unaccreted discount(224,759)(265,852)
Debt issuance costs(4,907)(6,200)
Senior notes carrying amount$3,469,619 $3,427,233 
Term Loan Net | Term Loan  
Debt Instrument [Line Items]  
Schedule of debt
The following table summarizes the Company’s aggregate term loan principal balances as of December 31, 2024 and 2023.

 DECEMBER 31,
Dollars in thousands20242023
Term loan principal balances 1
$1,150,000 $1,500,000 
Debt issuance costs(1,984)(2,908)
Term Loans carrying amount$1,148,016 $1,497,092 
1.In 2024, the Company repaid the $350 million Unsecured Term Loan and recorded approximately $0.2 million of accelerated amortization expense included in the loss of extinguishment of debt.
Mortgage Notes Payable | Mortgage Notes  
Debt Instrument [Line Items]  
Schedule of debt
The following table summarizes the Company’s aggregate mortgage notes principal balance as of December 31, 2024 and 2023.
 DECEMBER 31,
Dollars in thousands20242023
Mortgage notes payable principal balance$45,278 $70,752 
Unamortized premium140 285 
Unaccreted discount(134)(237)
Debt issuance costs(148)(266)
Mortgage notes payable carrying amount$45,136 $70,534