Notes Payable (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Components of Notes Payable

Notes payable consists of the following:

(in thousands)	December 31,
	2024			2023
Unsecured revolving lines of credit and term loan	$	415,440		$	588,000
2.35% Series E senior notes due in 2026		60,000			60,000
2.57% Series D senior notes due in 2028		40,000			40,000
6.25% Series F senior notes due in 2030		75,000			75,000
		590,440			763,000
Unamortized debt issuance cost		(232	)		(25	)
	$	590,208		$	762,975

Schedule of Future Minimum Payments under Unsecured Revolving Lines of Credit 2.35% Senior Notes, 2.57% Senior Notes and 6.25% Senior Notes

As of December 31, 2024, the future minimum payments under the unsecured revolving lines of credit, 2.35% Series E senior notes, 2.57% Series D senior notes and 6.25% Series F senior notes due in 2026, 2028 and 2030, respectively, are as follows:

(in thousands)
Year Ended December 31,
2025	$	—
2026		60,000
2027		415,440
2028		40,000
2029		—
Thereafter		75,000
	$	590,440

Schedule of Information Related to Lines of Credit

The following information relates to the lines of credit for each of the following periods:

(dollar amounts in thousands)	Year Ended December 31,
	2024			2023
Maximum amount outstanding	$	631,101		$	591,000
Average amount outstanding	$	555,225		$	541,635
Weighted average interest rate, during the period		6.94	%		6.63	%
Prime interest rate, end of period		7.50	%		8.50	%