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Debt - Summary of Consolidated Indebtedness (Details) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Dec. 31, 2023
Debt Instrument [Line Items]    
Long-term debt, gross [1],[2] $ 1,707,658 $ 1,881,087
Net unamortized debt issuance costs (12,053) (11,186)
Unamortized premium 223 240
Secured Debt, Total 955,069 930,127
Unsecured notes payable, net 644,313 726,727
Total Indebtedness 1,695,828 1,870,141
Fund IV    
Debt Instrument [Line Items]    
Long-term debt, gross 36,200 36,200
Mortgages    
Debt Instrument [Line Items]    
Net unamortized debt issuance costs (6,366) (7,313)
Unamortized premium 223 240
Secured Debt, Total 955,069 930,127
Mortgages | Fund Portfolio | Fund II    
Debt Instrument [Line Items]    
Long-term debt, gross [3] 137,485 137,485
Mortgages | Fund Portfolio | Fund III    
Debt Instrument [Line Items]    
Long-term debt, gross 33,000 33,000
Mortgages | Fund Portfolio | Fund IV    
Debt Instrument [Line Items]    
Long-term debt, gross [4] 109,484 115,925
Mortgages | Fund Portfolio | Fund V    
Debt Instrument [Line Items]    
Long-term debt, gross 500,144 458,960
Unsecured Debt    
Debt Instrument [Line Items]    
Net unamortized debt issuance costs (5,687) (3,873)
Unsecured notes payable, net 644,313 726,727
Line of Credit    
Debt Instrument [Line Items]    
Unsecured notes payable, net [5] 96,446 213,287
Fixed Rate | Mortgages | Core Portfolio    
Debt Instrument [Line Items]    
Long-term debt, gross $ 181,099 191,830
Fixed Rate | Mortgages | Core Portfolio | Maximum    
Debt Instrument [Line Items]    
Interest rate, stated percentage 5.89%  
Maturity Date 2035-04  
Fixed Rate | Mortgages | Core Portfolio | Minimum    
Debt Instrument [Line Items]    
Interest rate, stated percentage 3.99%  
Maturity Date 2027-07  
Variable Rate Debt | Mortgages | SOFR | Fund II    
Debt Instrument [Line Items]    
Basis spread on variable rate [3] 2.61%  
Variable Rate Debt | Mortgages | Fund Portfolio | SOFR | Fund II    
Debt Instrument [Line Items]    
Maturity Date [3] 2025-08  
Variable Rate Debt | Mortgages | Fund Portfolio | SOFR | Fund IV | Maximum    
Debt Instrument [Line Items]    
Basis spread on variable rate [4] 3.33%  
Maturity Date [4] 2028-06  
Variable Rate Debt | Mortgages | Fund Portfolio | SOFR | Fund IV | Minimum    
Debt Instrument [Line Items]    
Basis spread on variable rate [4] 2.25%  
Maturity Date [4] 2025-03  
Variable Rate Debt | Mortgages | Fund Portfolio | SOFR | Fund V | Maximum    
Debt Instrument [Line Items]    
Basis spread on variable rate 2.85%  
Maturity Date 2028-06  
Variable Rate Debt | Mortgages | Fund Portfolio | SOFR | Fund V | Minimum    
Debt Instrument [Line Items]    
Basis spread on variable rate 1.80%  
Maturity Date 2024-07  
Variable Rate Debt | Mortgages | Variable Rate | SOFR | Fund III    
Debt Instrument [Line Items]    
Maturity Date 2025-10  
Variable Rate Debt | Mortgages | Variable Rate | SOFR | Fund III | Maximum    
Debt Instrument [Line Items]    
Basis spread on variable rate 3.75%  
Variable Rate Unsecured Term Loans | Unsecured Debt | Core Portfolio    
Debt Instrument [Line Items]    
Long-term debt, gross [5] $ 650,000 650,000
Variable Rate Unsecured Term Loans | Unsecured Debt | Core Portfolio | Maximum    
Debt Instrument [Line Items]    
Maturity Date [5] 2029-07  
Variable Rate Unsecured Term Loans | Unsecured Debt | Core Portfolio | Minimum    
Debt Instrument [Line Items]    
Maturity Date [5] 2027-04  
Variable Rate Unsecured Term Loans | Unsecured Debt | Core Portfolio | SOFR | Maximum    
Debt Instrument [Line Items]    
Interest rate, stated percentage [5] 1.95%  
Variable Rate Unsecured Term Loans | Unsecured Debt | Core Portfolio | SOFR | Minimum    
Debt Instrument [Line Items]    
Interest rate, stated percentage [5] 1.50%  
Variable Rate Unsecured Term Loans | Line of Credit | Core Portfolio | SOFR    
Debt Instrument [Line Items]    
Basis spread on variable rate [5] 1.35%  
Maturity Date [5] 2028-04  
Subscription Line | Unsecured Debt | Fund Portfolio | Fund V    
Debt Instrument [Line Items]    
Long-term debt, gross [6] $ 0 $ 80,600
[1] Includes $151.2 million and $151.4 million, respectively, of variable-rate debt that is subject to interest cap agreements as of the periods presented. The effective fixed rates ranged from 4.50% to 6.00%.
[2] Includes $1,188.3 million and $1,249.8 million, respectively, of variable-rate debt that has been fixed with interest rate swap agreements as of the periods presented. The effective fixed rates ranged from 1.14% to 4.69%.
[3] The Company has a total borrowing capacity of $198.0 million on the Fund II mortgage as of both June 30, 2024 and December 31, 2023.
[4] Includes the outstanding balance on the Fund IV secured bridge facility of $36.2 million as of both June 30, 2024 and December 31, 2023.
[5] The Company has entered into various swap agreements to effectively fix its interest costs on a portion of its Revolver and term loans as of June 30, 2024 and December 31, 2023.
[6] Fund V paid off the subscription line and terminated the outstanding letters of credit during the six months ended June 30, 2024.