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Debt (Tables)
 3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Schedule of Debt
The following table reflects a summary of our outstanding indebtedness, at carrying amount, as of March 31, 2026 and December 31, 2025:
March 31, 2026December 31, 2025
(In thousands)
Senior Unsecured Notes$2,516,805 $2,730,980 
Senior Unsecured Term Loans1,074,752 1,077,144 
Senior Unsecured Revolving Credit Facility606,154 332,111 
Total principal amount of indebtedness$4,197,711 $4,140,235 
Less: unamortized deferred financing costs(1)
(15,101)(16,001)
Total indebtedness, net of deferred financing costs
$4,182,610 $4,124,234 
(1)Excludes unamortized deferred financing costs for the Senior Unsecured Revolving Credit Facility, which are recognized within Other assets.
The following table provides additional details of our Senior Unsecured Notes as of March 31, 2026 and December 31, 2025:
March 31, 2026December 31, 2025
Stated Maturity DateContractual Interest RateBorrowing CurrencyCarrying Amount (USD)Borrowing CurrencyCarrying Amount (USD)
(In thousands, except percentages)
Private Series A Notes(1)
01/20264.68%$— $— $200,000 $200,000 
Private Series B Notes
01/20294.86%$400,000 400,000 $400,000 400,000 
Private Series C Notes
01/20304.10%$350,000 350,000 $350,000 350,000 
Private Series D Notes
01/20311.62%€400,000 462,296 €400,000 469,856 
Private Series E Notes
01/20331.65%€350,000 404,509 €350,000 411,124 
Public 5.600% Notes
05/20325.60%$400,000 400,000 $400,000 400,000 
Public 5.409% Notes
09/20345.41%$500,000 500,000 $500,000 500,000 
Total Senior Unsecured Notes
$2,516,805 $2,730,980 
(1)The Private Series A Senior Unsecured Notes were repaid in full on the stated maturity date of January 8, 2026.
The following table provides additional details of our Senior Unsecured Term Loans as of March 31, 2026 and December 31, 2025:
March 31, 2026December 31, 2025
Stated Maturity Date(1)
Contractual Interest Rate(2)
Borrowing CurrencyCarrying Amount (USD)Borrowing CurrencyCarrying Amount (USD)
(In thousands, except percentages)
2025 Unsecured Term Loan06/2026
SOFR + 0.95%
$250,000 $250,000 $250,000 $250,000 
Tranche A-108/2026
SOFR + 0.94%
$375,000 375,000 $375,000 375,000 
Tranche A-201/2028
CORRA + 0.94%
C$250,000 179,752 C$250,000 182,144 
Delayed Draw Tranche A-301/2028
SOFR + 0.94%
$270,000 270,000 $270,000 270,000 
Total Senior Unsecured Term Loans
$1,074,752 $1,077,144 
(1)The terms of the debt agreement for 2025 Unsecured Term Loan include an option for one six-month extension past the original contractual maturity date in June of 2026. The terms of the debt agreement for Tranche A-1 include an option for one remaining twelve-month extension past the amended contractual maturity date in August of 2026.
(2)2025 Unsecured Term Loan SOFR = daily SOFR, Tranche A-1 and Delayed Draw Tranche A-3 SOFR = adjusted one-month SOFR (which includes an adjustment of 0.10%), and CORRA = adjusted daily CORRA (which includes an adjustment of 0.30%). Refer to Note 5 - Derivative Financial Instruments for details of the related interest rate swaps for Tranche A-1, Tranche A-2, and Delayed Draw Tranche A-3.
The following table provides additional details of our Senior Unsecured Revolving Credit Facility as of March 31, 2026 and December 31, 2025:
March 31, 2026December 31, 2025
Denomination of Draw
Contractual Interest Rate (1)
Borrowing CurrencyCarrying Amount (USD)Borrowing CurrencyCarrying Amount (USD)
(In thousands, except percentages)
U.S. dollar
SOFR + 0.84%
$245,000 $245,000 $— $— 
Australian dollar
BBSW + 0.84%
A$230,500 159,071 A$207,500 138,469 
Canadian dollar
CORRA + 0.84%
C$113,000 81,248 C$98,000 71,400 
Euro
EURIBOR + 0.84%
€70,500 81,480 €70,500 82,812 
New Zealand dollar
BKBM + 0.84%
NZ$68,500 39,355 NZ$68,500 39,430 
Total Senior Unsecured Revolving Credit Facility(2)
$606,154 $332,111 
(1)SOFR = adjusted daily SOFR (which includes an adjustment of 0.10%), BBSW = one-month Bank Bill Swap Rate, CORRA = adjusted daily CORRA (which includes an adjustment of 0.30%), EURIBOR = one-month Euro Interbank Offered Rate, BKBM = one-month Bank Bill Reference Rate.
(2)The Senior Unsecured Revolving Credit Facility matures in August of 2026; however, the terms of the debt agreement include an option for two six-month extensions past the original contractual maturity date.