Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

The following table details the Company’s interest rate swaps as of March 31, 2026:

Notional Balance	Fixed Rate
Mortgage notes & credit facilities:
Unsecured term loan credit facility
$700,000	3.65%
$250,000	3.42%
$145,500	4.23%
$100,000	3.67%
$54,500	3.40%
Unsecured revolving credit facility
$100,000	3.25%
$45,500	3.40%
Variable rate mortgages
$51,867	3.73%

The following table details the Company’s outstanding derivatives:

			Notional Amount (1)
Financial Instruments	Number of Instruments	Weighted Average Maturity Date	March 31, 2026		December 31, 2025
Derivatives Designated as hedging instruments	20	6/16/2028	$	1,738,847	$	1,718,611
Derivatives Not Designated as hedging instruments	12	6/15/2028	$	2,671,364	$	2,519,598

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(1)The notional amount reflects the balance we expect to settle at the maturity date based on the contractual strike price at trade execution or the initial reference value of the underlying asset, established at trade execution, upon which all payment obligations are calculated.

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The fair value of our derivative financial instruments and their classification on our Condensed Consolidated Balance Sheets as of March 31, 2026 and December 31, 2025 are detailed below.

		Asset Derivatives					Liability Derivatives
		Fair Value					Fair Value
Financial Instruments	Balance Sheet Location	March 31, 2026		December 31, 2025		Balance Sheet Location	March 31, 2026		December 31, 2025
Derivatives Designated as Hedging Instruments	Other Assets	$	4,604	$	725	Other Liabilities	$	3,484	$	10,572
Derivatives Not Designated as Hedging Instruments	Other Assets	$	34,386	$	8,174	Other Liabilities	$	7,508	$	14,633

Schedule of Derivative Instruments

The following table details the effect of the Company’s derivative financial instruments on the Condensed Consolidated Statements of Operations during the three months ended March 31, 2026 and 2025:

	Amount of Unrealized Gain (Loss) Recognized in OCI				Location of Gain (Loss) Recognized in Income on Derivatives	Amount of Gain Reclassified from Accumulated OCI into Income
	March 31, 2026		March 31, 2025			March 31, 2026		March 31, 2025
Derivatives Designated as Hedging Instruments	$	2,196	$	(11,898)	Interest Income	$	174	$	2,326
Derivatives Designated as Hedging Instruments	$	9,126	$	—	Interest Expense	$	137	$	—

The following table details the effect of the Company’s derivative financial instruments not designated as hedging instruments on the Condensed Consolidated Statements of Operations for the three months ended March 31, 2026 and 2025:

		Three Months Ended
	Income Statement Location	March 31, 2026		March 31, 2025
Derivatives Not Designated as Hedging Instruments	Other Income (Expense)	$	(2,232)	$	(1,388)