Annual report pursuant to Section 13 and 15(d)

DEBT FINANCING - Narrative (Details)

v3.20.4
DEBT FINANCING - Narrative (Details)
5 Months Ended 12 Months Ended
Jul. 29, 2019
USD ($)
Jun. 05, 2018
USD ($)
Dec. 31, 2019
USD ($)
Dec. 31, 2020
USD ($)
property
Oct. 22, 2020
USD ($)
Aug. 30, 2019
USD ($)
Apr. 24, 2019
USD ($)
Dec. 21, 2018
USD ($)
Jun. 30, 2017
USD ($)
Debt Instrument [Line Items]                  
Carrying value     $ 1,539,260,000 $ 1,922,614,000          
Interest rate swap                  
Debt Instrument [Line Items]                  
Aggregate notional amount             $ 100,000,000.0    
Credit Facility                  
Debt Instrument [Line Items]                  
Extension fee (percent) 0.075%                
Unsecured debt | Credit Facility                  
Debt Instrument [Line Items]                  
Amended credit facility total borrowing capacity increase $ 255,000,000.0                
Maximum borrowing capacity 1,275,000,000                
Maximum borrowing capacity if expansion option is exercised $ 1,750,000,000                
Maximum total leverage ratio     60.00%            
Maximum total leverage ratio allowable within two quarters of material acquisition     65.00%            
Minimum fixed charge coverage ratio     1.5            
Maximum unsecured debt to unencumbered asset value ratio     60.00%            
Maximum unsecured debt to unencumbered asset value ratio allowable within two quarters of material acquisition     65.00%            
Minimum encumbered adjusted net operating income to unsecured interest expense ratio     2.0            
Unsecured debt | Credit Facility | Fed Funds Rate                  
Debt Instrument [Line Items]                  
Basis spread on variable rate (percent) 0.50%                
Unsecured debt | Credit Facility | LIBOR                  
Debt Instrument [Line Items]                  
Basis spread on variable rate (percent) 1.00%                
Unsecured debt | Credit Facility | LIBOR | Minimum                  
Debt Instrument [Line Items]                  
Leverage based applicable margin (percent) 1.15%                
Credit pricing elective applicable margin (percent) 0.78%                
Unsecured debt | Credit Facility | LIBOR | Maximum                  
Debt Instrument [Line Items]                  
Leverage based applicable margin (percent) 2.20%                
Credit pricing elective applicable margin (percent) 2.25%                
Unsecured debt | Credit Facility | Base Rate | Minimum                  
Debt Instrument [Line Items]                  
Leverage based applicable margin (percent) 0.15%                
Credit pricing elective applicable margin (percent) 0.00%                
Unsecured debt | Credit Facility | Base Rate | Maximum                  
Debt Instrument [Line Items]                  
Leverage based applicable margin (percent) 1.20%                
Credit pricing elective applicable margin (percent) 1.25%                
Unsecured debt | 2023 Term loan facility                  
Debt Instrument [Line Items]                  
Maximum borrowing capacity if expansion option is exercised   $ 400,000,000.0              
Effective interest rate (percent)       2.83%          
Debt instrument, face amount                 $ 100,000,000.0
Maximum expansion option                 $ 100,000,000.0
Aggregate amount of expansion option exercised   75,000,000.0              
Carrying value   175,000,000.0 $ 175,000,000 $ 175,000,000          
Expansion option capacity increase   200,000,000.0              
Current borrowing capacity   $ 225,000,000.0              
Minimum number of rating agencies required | property       2          
Unsecured debt | 2023 Term loan facility | Fed Funds Rate                  
Debt Instrument [Line Items]                  
Basis spread on variable rate (percent)       0.50%          
Unsecured debt | 2023 Term loan facility | LIBOR                  
Debt Instrument [Line Items]                  
Basis spread on variable rate (percent)       1.00%          
Unsecured debt | 2023 Term loan facility | LIBOR | Minimum                  
Debt Instrument [Line Items]                  
Leverage based applicable margin (percent)       1.30%          
Credit pricing elective applicable margin (percent)       0.90%          
Unsecured debt | 2023 Term loan facility | LIBOR | Maximum                  
Debt Instrument [Line Items]                  
Leverage based applicable margin (percent)       1.70%          
Credit pricing elective applicable margin (percent)       1.75%          
Unsecured debt | 2023 Term loan facility | Base Rate | Minimum                  
Debt Instrument [Line Items]                  
Leverage based applicable margin (percent)       0.30%          
Credit pricing elective applicable margin (percent)       0.00%          
Unsecured debt | 2023 Term loan facility | Base Rate | Maximum                  
Debt Instrument [Line Items]                  
Leverage based applicable margin (percent)       0.70%          
Credit pricing elective applicable margin (percent)       0.75%          
Unsecured debt | 2028 Term loan facility                  
Debt Instrument [Line Items]                  
Maximum borrowing capacity if expansion option is exercised               $ 125,000,000.0  
Effective interest rate (percent)       4.62%          
Debt instrument, face amount               $ 75,000,000.0  
Carrying value     75,000,000 $ 75,000,000          
Minimum number of rating agencies required | property       2          
Unsecured debt | 2028 Term loan facility | Fed Funds Rate                  
Debt Instrument [Line Items]                  
Basis spread on variable rate (percent)       0.50%          
Unsecured debt | 2028 Term loan facility | LIBOR                  
Debt Instrument [Line Items]                  
Basis spread on variable rate (percent)       1.00%          
Unsecured debt | 2028 Term loan facility | LIBOR | Minimum                  
Debt Instrument [Line Items]                  
Leverage based applicable margin (percent)       1.80%          
Credit pricing elective applicable margin (percent)       1.40%          
Unsecured debt | 2028 Term loan facility | LIBOR | Maximum                  
Debt Instrument [Line Items]                  
Leverage based applicable margin (percent)       2.35%          
Credit pricing elective applicable margin (percent)       2.25%          
Unsecured debt | 2028 Term loan facility | Base Rate | Minimum                  
Debt Instrument [Line Items]                  
Leverage based applicable margin (percent)       0.80%          
Credit pricing elective applicable margin (percent)       0.40%          
Unsecured debt | 2028 Term loan facility | Base Rate | Maximum                  
Debt Instrument [Line Items]                  
Leverage based applicable margin (percent)       1.35%          
Credit pricing elective applicable margin (percent)       1.25%          
Unsecured debt | 2029 Term loan facility                  
Debt Instrument [Line Items]                  
Effective interest rate (percent)       4.27%     4.27%    
Debt instrument, face amount             $ 100,000,000.0    
Carrying value     100,000,000 $ 100,000,000          
Minimum number of rating agencies required | property       2          
Unsecured debt | 2029 Term loan facility | Fed Funds Rate                  
Debt Instrument [Line Items]                  
Basis spread on variable rate (percent)       0.50%          
Unsecured debt | 2029 Term loan facility | LIBOR                  
Debt Instrument [Line Items]                  
Basis spread on variable rate (percent)       1.00%          
Unsecured debt | 2029 Term loan facility | LIBOR | Minimum                  
Debt Instrument [Line Items]                  
Leverage based applicable margin (percent)       1.85%          
Credit pricing elective applicable margin (percent)       1.40%          
Unsecured debt | 2029 Term loan facility | LIBOR | Maximum                  
Debt Instrument [Line Items]                  
Leverage based applicable margin (percent)       2.30%          
Credit pricing elective applicable margin (percent)       2.25%          
Unsecured debt | 2029 Term loan facility | Base Rate | Minimum                  
Debt Instrument [Line Items]                  
Leverage based applicable margin (percent)       0.85%          
Credit pricing elective applicable margin (percent)       0.40%          
Unsecured debt | 2029 Term loan facility | Base Rate | Maximum                  
Debt Instrument [Line Items]                  
Leverage based applicable margin (percent)       1.30%          
Credit pricing elective applicable margin (percent)       1.25%          
Unsecured debt | 2029 Senior Unsecured Notes                  
Debt Instrument [Line Items]                  
Effective interest rate (percent)       3.98%          
Debt instrument, face amount           $ 100,000,000.0      
Carrying value     100,000,000 $ 100,000,000          
Debt instrument, fixed interest rate (percent)           3.98%      
Unsecured debt | 2031 Senior Unsecured Notes                  
Debt Instrument [Line Items]                  
Effective interest rate (percent)       4.08%          
Debt instrument, face amount           $ 50,000,000.0      
Carrying value     50,000,000 $ 50,000,000          
Debt instrument, fixed interest rate (percent)           4.08%      
Unsecured debt | 2030 Senior Unsecured Notes                  
Debt Instrument [Line Items]                  
Effective interest rate (percent)       2.99%          
Debt instrument, face amount         $ 150,000,000.0        
Carrying value     0 $ 150,000,000          
Debt instrument, fixed interest rate (percent)         2.99%        
Unsecured debt | 2032 Senior Unsecured Notes                  
Debt Instrument [Line Items]                  
Effective interest rate (percent)       3.09%          
Debt instrument, face amount         $ 100,000,000.0        
Carrying value     0 $ 100,000,000          
Debt instrument, fixed interest rate (percent)         3.09%        
Fixed rate mortgages payable | Fixed rate mortgages payable                  
Debt Instrument [Line Items]                  
Effective interest rate (percent)       4.26%          
Carrying value     264,260,000 $ 223,614,000          
Fixed rate mortgages payable | Fixed rate mortgages payable | Minimum                  
Debt Instrument [Line Items]                  
Effective interest rate (percent)       3.63%          
Fixed rate mortgages payable | Fixed rate mortgages payable | Maximum                  
Debt Instrument [Line Items]                  
Effective interest rate (percent)       5.00%          
Revolving line of credit | Credit Facility | Minimum                  
Debt Instrument [Line Items]                  
Usage based fees with respect to unused portion of Revolver (percent) 0.15%                
Ratings based fees if credit pricing elected (percent) 0.125%                
Revolving line of credit | Credit Facility | Maximum                  
Debt Instrument [Line Items]                  
Usage based fees with respect to unused portion of Revolver (percent) 0.20%                
Ratings based fees if credit pricing elected (percent) 0.30%                
Revolving line of credit | Revolving line of credit | Credit Facility                  
Debt Instrument [Line Items]                  
Maximum borrowing capacity $ 500,000,000.0                
Effective interest rate (percent)       1.44%          
Revolving line of credit remaining borrowing capacity       $ 320,300,000          
Carrying value     0 $ 174,000,000          
Term loan A | Unsecured debt | Credit Facility                  
Debt Instrument [Line Items]                  
Maximum borrowing capacity 125,000,000.0                
Effective interest rate (percent)       3.74%          
Carrying value     125,000,000 $ 125,000,000          
Term loan B | Unsecured debt | Credit Facility                  
Debt Instrument [Line Items]                  
Maximum borrowing capacity 250,000,000.0                
Effective interest rate (percent)       2.91%          
Carrying value     250,000,000 $ 250,000,000          
Term loan C | Unsecured debt | Credit Facility                  
Debt Instrument [Line Items]                  
Maximum borrowing capacity 225,000,000.0                
Effective interest rate (percent)       2.80%          
Carrying value     225,000,000 $ 225,000,000          
Term loan D | Unsecured debt | Credit Facility                  
Debt Instrument [Line Items]                  
Maximum borrowing capacity $ 175,000,000.0                
Effective interest rate (percent)       3.57%          
Carrying value     $ 175,000,000 $ 175,000,000          
Letter of credit | Revolving line of credit | Credit Facility                  
Debt Instrument [Line Items]                  
Letters of credit outstanding       $ 5,700,000