Subsequent Events

3 Months Ended

Mar. 31, 2026

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

A.    Dividends

In April 2026, we declared a dividend of $0.2705 per share to our common stockholders, which will be paid in May 2026.

B.    U.S. Core Plus Fund

On April 1, 2026, we called an additional $310.0 million of capital from third-party investors and redeemed $183.8 million of the Company's units, resulting in an indirect ownership of 26.8% in the Fund.

On April 30, 2026, the Fund borrowed $177.0 million under its unsecured delayed draw term loan and used the proceeds to repay borrowings under its unsecured revolving credit facility.

C.    Note Issuance

In April 2026, we issued $800.0 million of 4.750% senior unsecured notes due April 2033 (the "Notes"). The public offering price for the Notes was 98.261% of the principal amount for an effective yield to maturity of 5.047%. Interest is paid semi-annually. In connection with the issuance, we executed a $500 million U.S. Dollar-to-Euro 7-year cross currency swap, resulting in approximately €436 million of proceeds and an effective fixed-rate, Euro-denominated yield to maturity of approximately 4.07% and coupon rate of 3.81%. On a combined basis, the Notes and related swap resulted in an effective blended yield to maturity of approximately 4.44% and blended coupon rate of 4.16%.

D.    ATM Forward Offerings

As of May 6, 2026, we had outstanding forward sale agreements under our ATM program for a total of 23.6 million shares of common stock, representing expected net proceeds of approximately $1.4 billion (assuming full physical settlement of such agreements), of which 2.8 million shares were sold in April 2026.