Borrowings (Tables)

6 Months Ended

Jun. 30, 2025

Debt Disclosure [Abstract]

Summary of Outstanding Debt

The following table summarizes the Company’s outstanding debt as of June 30, 2025 (dollars in thousands):

	Balance			Weighted Average Effective Rate			Weighted Average Contract Maturity
Unsecured debt
Fixed rate senior notes	$	4,400,000			3.7	%	5/9/2031
Variable rate commercial paper program		315,000			4.7	%	7/6/2025
Debt issuance costs, discounts and premiums		(27,187	)
Total unsecured debt	$	4,687,813			3.8	%
Secured debt
Fixed rate property mortgages	$	363,293			4.4	%	1/26/2049
Debt issuance costs		(2,963	)
Total secured debt	$	360,330			4.4	%
Total outstanding debt	$	5,048,143			3.8	%