Borrowings (Tables)

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Summary of Outstanding Debt

The following table summarizes the Company’s outstanding debt as of June 30, 2020 (dollars in thousands):

	Balance			Weighted Average Effective Rate			Weighted Average Contract Maturity
Unsecured debt
Variable rate revolving credit facility	$	—			—			—
Variable rate commercial paper program		90,000			0.4	%	7/7/2020
Fixed rate senior notes		3,472,000			3.9	%	7/19/2026
Variable rate term loan		300,000			1.1	%	3/1/2022
Debt issuance costs, discounts, premiums and fair market value adjustments		(12,216	)
Total unsecured debt	$	3,849,784			3.6	%
Secured debt
Fixed rate property mortgages	$	626,334			4.5	%	5/3/2037
Debt issuance costs and fair market value adjustments		(3,510	)
Total secured debt	$	622,824			4.5	%
Total outstanding debt	$	4,472,608			3.7	%