Derivatives (Tables)

12 Months Ended

Dec. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Outstanding Interest Rate Derivatives Non-Designated Hedges of Interest Rate Risk

The following tables detail the Company’s outstanding interest rate derivatives that were non-designated hedges of interest rate risk (notional amounts in thousands):

	December 31, 2022
Interest Rate Derivatives	Number of Instruments	Notional Amount		Weighted Average Strike Rate	Index	Weighted Average Maturity (Years)
Interest Rate Caps - Property debt	67	$	10,273,472	1.5%	LIBOR, SOFR	2.9
Interest Rate Caps - Property debt	3	€	157,296	1.2%	EURIBOR	1.7
Interest Rate Caps - Property debt	1	Dkr. 301,500		1.0%	CIBOR	3.7
Interest Rate Swaps - Property debt	2	$	269,115	0.8%	LIBOR	2.3
Interest Rate Swaps - Property debt	3	€	213,458	1.9%	EURIBOR	4.6
Interest Rate Swaps - Property debt	1	kr 576,633		2.4%	NIBOR	5.2
	December 31, 2021
Interest Rate Derivatives	Number of Instruments	Notional Amount		Weighted Average Strike Rate	Index	Weighted Average Maturity (Years)
Interest Rate Caps - Property debt	19	$	6,297,224	0.8%	LIBOR, SOFR	4.5
Interest Rate Caps - Property debt	2	€	88,040	1.3%	EURIBOR	2.4
Interest Rate Caps - Property debt	1	Dkr. 301,500		1.0%	CIBOR	4.7
Interest Rate Swaps - Property debt	2	$	256,783	0.8%	LIBOR	3.6

Summary of Outstanding Foreign Currency Forward Contracts Non-Designated Hedges of Foreign Currency Risk

The following table details the Company’s outstanding foreign currency forward contracts that were non-designated hedges of foreign currency risk (notional amounts in thousands):

	December 31, 2022			December 31, 2021
Foreign Currency Forward Contracts	Number of Instruments	Notional Amount		Number of Instruments	Notional Amount
Buy USD/Sell EUR Forward	48	€	588,786	5	€	232,076
Buy USD/Sell DKK Forward	12	Dkr. 1,513,100		6	Dkr. 289,700
Buy USD/Sell AUD Forward	8	AUD 661,100		—	—
Buy USD/Sell NOK Forward	8	kr 859,279		—	—
Buy USD/Sell GBP Forward	5	£	368,469	2	£	165,861

Summary of Fair Value of Derivative Financial Instruments

The following table details the fair value of the Company’s derivative financial instruments ($ in thousands):

	Fair Value of Derivatives in an Asset (1) Position				Fair Value of Derivatives in a Liability (2) Position
	December 31, 2022		December 31, 2021		December 31, 2022		December 31, 2021
Interest rate derivatives	$	842,895	$	185,738	$	—	$	—
Foreign currency forward contracts		56,021		8,315		17,860		1,398
Total Derivatives	$	898,916	$	194,053	$	17,860	$	1,398

(1)Included in Other Assets in the Company’s Consolidated Balance Sheets.

(2)Included in Other Liabilities in the Company’s Consolidated Balance Sheets.

Summary of Effect of Derivate Financial Instruments on Consolidated Statements of Operations and Comprehensive Loss

The following table details the effect of the Company’s derivative financial instruments on the Consolidated Statements of Operations and Comprehensive Loss ($ in thousands):

		For the Year Ended December 31,
Type of Derivative	Net Realized/Unrealized Gain (Loss)(1)	2022		2021
Interest Rate Caps - Property debt	Unrealized gain	$	498,696	$	5,244
Interest Rate Swaps - Property debt	Unrealized gain		32,972		4,792
Foreign Currency Forward Contracts	Unrealized gain		30,556		8,447
Foreign Currency Forward Contracts	Realized gain		57,176		5,463
		$	619,400	$	23,946

(1) Included in Other income (expense), net on the Company’s Consolidated Statements of Operations and Comprehensive Loss.