Indebtedness (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Schedule of Long-Term Debt Instruments

As of December 31, 2024 and 2023, our outstanding indebtedness consisted of the following:

	December 31,
	2024		2023
Unsecured revolving credit facility, due in 2024	$	—	$	205,000
Secured revolving credit facility, due in 2027	325,000		—
Secured term loan, due in 2027	100,000		—
Senior unsecured notes, 4.250% interest rate, due in 2024 (1)	—		350,000
Senior unsecured notes, 4.500% interest rate, due in 2025 (2)	171,586		650,000
Senior unsecured notes, 2.650% interest rate, due in 2026	140,488		300,000
Senior unsecured notes, 2.400% interest rate, due in 2027	80,784		350,000
Senior secured notes, 3.250% interest rate, due in 2027 (3)	444,992		—
Mortgage note payable, 8.272% interest rate, due in 2028	42,700		42,700
Mortgage note payable, 8.139% interest rate, due in 2028	26,340		26,340
Mortgage note payable, 7.671% interest rate, due in 2028	54,300		54,300
Senior secured notes, 9.000% interest rate, due in March 2029 (4)	300,000		—
Senior secured notes, 9.000% interest rate, due in September 2029 (5)	609,999		—
Senior unsecured notes, 3.450% interest rate, due in 2031	114,355		400,000
Mortgage note payable, 7.210% interest rate, due in 2033	30,680		30,680
Mortgage note payable, 7.305% interest rate, due in 2033	8,400		8,400
Mortgage note payable, 7.717% interest rate, due in 2033	14,900		14,900
Senior unsecured notes, 6.375% interest rate, due in 2050	162,000		162,000
	2,626,524		2,594,320
Unamortized debt premiums, discounts and issuance costs	(91,890)		(21,711)
	$	2,534,634	$	2,572,609

(1)These senior notes were redeemed in March 2024.

(2)Certain of these senior notes were redeemed through a series of exchange transactions during the year ended December 31, 2024. The remaining balance of $171,586 at December 31, 2024 was redeemed in cash in January 2025.

(3)These senior notes were issued in December 2024.

(4)These senior notes were issued in February 2024.

(5)These senior notes were issued in June and October 2024.

Schedule of Senior Note Exchanges

In June and October 2024, through two exchange transactions, we exchanged $609,999 in aggregate principal amount of new 9.000% senior secured notes due September 2029, or the September 2029 Notes, for an aggregate $895,373 of certain of our outstanding senior unsecured notes, or the Existing Notes, and an aggregate 1,406,952 of our common shares valued at $2.26 per share, and such transactions, the 2029 Senior Note Exchanges, as follows:

Existing Notes Exchanged	Aggregate Principal Amount of Existing Notes Accepted for Exchange		Aggregate Principal Amount of September 2029 Notes Delivered
Existing 4.50% 2025 Notes	$	181,000	$	183,981
Existing 2.650% 2026 Notes	159,512		114,803
Existing 2.400% 2027 Notes	269,216		164,162
Existing 3.450% 2031 Notes	285,645		147,053
Total	$	895,373	$	609,999

Schedule of Required Principal Payments

The required principal payments due during the next five years and thereafter under all our outstanding consolidated debt as of December 31, 2024 were as follows:

Year	Principal Payment
2025 (1)	$	197,586
2026	291,488
2027	773,776
2028	123,487
2029	910,278
Thereafter	329,909
Total (2)	$	2,626,524

(1)Includes $171,586 aggregate principal of the 2025 Notes, which were redeemed in full in January 2025.

(2)Total consolidated debt outstanding as of December 31, 2024, net of unamortized premiums, discounts and issuance costs totaling $91,890, was $2,534,634.