Subsequent Events

9 Months Ended

Sep. 30, 2025

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

A.     Dividends

In October 2025, we declared a dividend of $0.2695 per share to our common stockholders, which will be paid in November 2025.

B. ATM Forward Offerings

As of November 3, 2025, we had outstanding forward sale agreements under our ATM program for a total of 17.7 million shares of common stock, representing expected net proceeds of approximately $1.0 billion (assuming full physical settlement of such agreements), of which 2.6 million shares were sold in October 2025.

C. Private Fund Business

We recently launched a perpetual life fund, raising $716.0 million of equity commitments from institutional investors. On October 1, 2025, capital calls of $486.4 million were made on these commitments.

D. Notes Issuance

In October 2025, we issued $400.0 million of 3.950% senior unsecured notes due February 2029 (the "2029 notes") and $400.0 million of 4.500% senior unsecured notes due February 2033 (the "2033 notes"). The public offering price for the 2029 notes was 99.412% of the principal amount for an effective yield to maturity of 4.143%, and the public offering price for the 2033 notes was 98.871% of the principal amount for an effective yield to maturity of 4.685%. Interest on the 2029 and the 2033 notes is paid semi-annually.