DEBT, NET (Tables)

3 Months Ended

Mar. 31, 2026

Debt Disclosure [Abstract]

Schedule of Debt, Net

The Company’s debt, net is summarized as follows:

	March 31, 2026 (unaudited)				December 31, 2025
	Outstanding Borrowings		Stated Interest Rate	Maturity Date	Outstanding Borrowings
Loans payable
Revolving Credit Facility (1)	$	—	(i) Base Rate + 1.75%; or (ii) Adjusted Term SOFR Rate + 2.75%	5/22/27	$	—
Total loans payable	—				—
Bonds payable
Senior Notes due 2028 (2)	1,000,895		5.50%	5/1/28	1,000,995
Senior Notes due 2030 (3)	497,575		7.88%	12/1/30	497,470
Senior Notes due 2031	700,000		7.00%	5/1/31	700,000
Senior Notes due 2032	800,000		7.00%	6/15/32	800,000
Senior Notes due 2033 (4)	497,844		5.88%	4/15/33	497,784
Total bonds payable	3,496,314				3,496,249
Debt	3,496,314				3,496,249
Less: Debt issuance costs	(45,227)				(47,358)
Total debt, net	$	3,451,087			$	3,448,891
Total debt due within one year	$	—			$	—

(1)Requires a quarterly commitment fee at a rate of 0.50% on the average daily unused portion, as well as customary letter of credit fees and agency fees.

(2)Includes an unamortized premium of $895 and $995 at March 31, 2026 and December 31, 2025, respectively.

(3)Includes an unamortized discount of $2,425 and $2,530 at March 31, 2026 and December 31, 2025, respectively.

(4)Includes an unamortized discount of $2,156 and $2,216 at March 31, 2026 and December 31, 2025, respectively.