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Borrowings (Tables)
 6 Months Ended
Jun. 30, 2022
Debt Disclosure [Abstract]  
Summary of Outstanding Debt

The following table summarizes the Company’s outstanding debt as of June 30, 2022 (dollars in thousands):

 

 

 

Balance

 

 

Weighted Average Effective Rate

 

 

Weighted Average Contract Maturity

Unsecured debt

 

 

 

 

 

 

 

 

Fixed rate senior notes

 

$

4,175,000

 

 

 

3.3

%

 

3/4/2029

Debt issuance costs, discounts, premiums and fair market value adjustments

 

 

(21,350

)

 

 

 

 

 

Total unsecured debt

 

$

4,153,650

 

 

 

3.3

%

 

 

Secured debt

 

 

 

 

 

 

 

 

Fixed rate property mortgages

 

$

367,864

 

 

 

4.4

%

 

10/10/2048

Debt issuance costs

 

 

(3,200

)

 

 

 

 

 

Total secured debt

 

$

364,664

 

 

 

4.4

%

 

 

Total outstanding debt

 

$

4,518,314

 

 

 

3.4

%