Annual report pursuant to Section 13 and 15(d)

DEBT FINANCING - Narrative (Details)

v3.24.0.1
DEBT FINANCING - Narrative (Details)
12 Months Ended
Jul. 29, 2019
Dec. 31, 2023
USD ($)
agency
election_period
Feb. 27, 2024
USD ($)
Oct. 05, 2023
USD ($)
Mar. 24, 2023
USD ($)
Jan. 03, 2023
USD ($)
Jan. 02, 2023
USD ($)
Dec. 31, 2022
USD ($)
Aug. 30, 2022
USD ($)
Jun. 24, 2022
USD ($)
Nov. 09, 2021
USD ($)
Jul. 09, 2021
USD ($)
property
May 03, 2021
USD ($)
Oct. 22, 2020
USD ($)
Aug. 30, 2019
USD ($)
Apr. 24, 2019
USD ($)
Jan. 02, 2019
Dec. 21, 2018
USD ($)
Debt Instrument [Line Items]                                    
Carrying value   $ 3,668,757,000           $ 3,560,570,000                    
Unsecured debt | Fed Funds Rate                                    
Debt Instrument [Line Items]                                    
Basis spread on variable rate (percent)   0.50%                                
Credit Facility | Revolving line of credit | 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%                                
Credit Facility | Revolving line of credit | 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%                                
Credit Facility | Line of Credit                                    
Debt Instrument [Line Items]                                    
Maximum borrowing capacity           $ 1,955,000,000 $ 405,000,000                      
Increase limit           2,500,000,000                        
Credit Facility | Line of Credit | Revolving line of credit                                    
Debt Instrument [Line Items]                                    
Maximum borrowing capacity           950,000,000   650,000,000                    
Borrowing commitment extension fees percentage   0.0625%                                
Term loan extension fee percentage   0.0625%                                
Effective interest rate (percent)   6.71%                                
Revolving line of credit remaining borrowing capacity   $ 562,600,000                                
Carrying value   $ 381,000,000           496,000,000                    
Debt Instrument, Extention Periods, Number Of Elections | election_period   2                                
Credit Facility | Unsecured debt                                    
Debt Instrument [Line Items]                                    
Letters of credit outstanding   $ 6,400,000                                
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 secured indebtedness to gross asset value (as a percent) 40.00%                                  
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                                  
Credit Facility | Unsecured debt | Fed Funds Rate                                    
Debt Instrument [Line Items]                                    
Basis spread on variable rate (percent)   0.50%                                
Credit Facility | Unsecured debt | Secured Overnight Financing Rate (SOFR)                                    
Debt Instrument [Line Items]                                    
Basis spread on variable rate (percent)   1.00%                                
Credit Facility | Unsecured debt | Secured Overnight Financing Rate (SOFR) | Minimum                                    
Debt Instrument [Line Items]                                    
Leverage based applicable margin (percent)   1.10%                                
Credit rating pricing election (percent)   0.725%                                
Credit Facility | Unsecured debt | Secured Overnight Financing Rate (SOFR) | Maximum                                    
Debt Instrument [Line Items]                                    
Leverage based applicable margin (percent)   1.80%                                
Credit rating pricing election (percent)   1.65%                                
Credit Facility | Unsecured debt | Base Rate | Minimum                                    
Debt Instrument [Line Items]                                    
Leverage based applicable margin (percent)   0.10%                                
Credit rating pricing election (percent)   0.00%                                
Credit Facility | Unsecured debt | Base Rate | Maximum                                    
Debt Instrument [Line Items]                                    
Leverage based applicable margin (percent)   0.80%                                
Credit rating pricing election (percent)   0.65%                                
Credit Facility | Unsecured debt | Term loan A                                    
Debt Instrument [Line Items]                                    
Maximum borrowing capacity           125,000,000                        
Carrying value               125,000,000                    
Credit Facility | Unsecured debt | Term loan B                                    
Debt Instrument [Line Items]                                    
Maximum borrowing capacity           275,000,000 250,000,000                      
Effective interest rate (percent)   3.28%                                
Carrying value   $ 275,000,000           250,000,000                    
Credit Facility | Unsecured debt | Term loan B | Subsequent Event                                    
Debt Instrument [Line Items]                                    
Carrying value     $ 130,000,000                              
Credit Facility | Unsecured debt | Term loan C                                    
Debt Instrument [Line Items]                                    
Maximum borrowing capacity           325,000,000 225,000,000                      
Effective interest rate (percent)   4.07%                                
Carrying value   $ 325,000,000           225,000,000                    
Credit Facility | Unsecured debt | Term loan D                                    
Debt Instrument [Line Items]                                    
Maximum borrowing capacity           275,000,000 175,000,000                      
Effective interest rate (percent)   4.05%                                
Carrying value   $ 275,000,000           175,000,000                    
Credit Facility | Unsecured debt | Term loan E                                    
Debt Instrument [Line Items]                                    
Maximum borrowing capacity           $ 130,000,000 $ 125,000,000                      
Effective interest rate (percent)   4.93%                                
Carrying value   $ 130,000,000           125,000,000                    
Term Loan Facility | Unsecured debt                                    
Debt Instrument [Line Items]                                    
Maximum borrowing capacity               175,000,000                    
2028 Term loan facility | Unsecured debt                                    
Debt Instrument [Line Items]                                    
Debt issued         $ 75,000,000                          
Maximum borrowing capacity if expansion option is exercised                                   $ 125,000,000
Minimum number of rating agencies required | agency   2                                
Carrying value               75,000,000                    
2028 Term loan facility | Unsecured debt | Fed Funds Rate                                    
Debt Instrument [Line Items]                                    
Basis spread on variable rate (percent)   0.50%                                
2028 Term loan facility | Unsecured debt | Base Rate | Minimum                                    
Debt Instrument [Line Items]                                    
Leverage based applicable margin (percent)   0.80%                                
Credit rating pricing election (percent)   0.40%                                
2028 Term loan facility | Unsecured debt | Base Rate | Maximum                                    
Debt Instrument [Line Items]                                    
Leverage based applicable margin (percent)   1.35%                                
Credit rating pricing election (percent)   1.25%                                
2028 Term loan facility | Unsecured debt | London Inter Bank Offered Rate                                    
Debt Instrument [Line Items]                                    
Basis spread on variable rate (percent)   1.00%                                
2028 Term loan facility | Unsecured debt | London Inter Bank Offered Rate | Minimum                                    
Debt Instrument [Line Items]                                    
Leverage based applicable margin (percent)   1.80%                                
Credit rating pricing election (percent)   1.40%                                
2028 Term loan facility | Unsecured debt | London Inter Bank Offered Rate | Maximum                                    
Debt Instrument [Line Items]                                    
Leverage based applicable margin (percent)   2.35%                                
Credit rating pricing election (percent)   2.25%                                
2028 Term loan facility | Unsecured debt | Term loan E                                    
Debt Instrument [Line Items]                                    
Effective interest rate (percent)                                 4.62%  
Carrying value   $ 75,000,000                                
A2029 Term Loan Facility | Unsecured debt                                    
Debt Instrument [Line Items]                                    
Debt issued                               $ 100,000,000    
Minimum number of rating agencies required | agency   2                                
A2029 Term Loan Facility | Unsecured debt | Interest rate swap                                    
Debt Instrument [Line Items]                                    
Aggregate notional amount                               $ 100,000,000    
A2029 Term Loan Facility | Unsecured debt | Fed Funds Rate                                    
Debt Instrument [Line Items]                                    
Basis spread on variable rate (percent)   0.50%                                
A2029 Term Loan Facility | Unsecured debt | Base Rate | Minimum                                    
Debt Instrument [Line Items]                                    
Leverage based applicable margin (percent)   0.85%                                
Credit rating pricing election (percent)   0.40%                                
A2029 Term Loan Facility | Unsecured debt | Base Rate | Maximum                                    
Debt Instrument [Line Items]                                    
Leverage based applicable margin (percent)   1.30%                                
Credit rating pricing election (percent)   1.25%                                
A2029 Term Loan Facility | Unsecured debt | London Inter Bank Offered Rate                                    
Debt Instrument [Line Items]                                    
Basis spread on variable rate (percent)   1.00%                                
A2029 Term Loan Facility | Unsecured debt | London Inter Bank Offered Rate | Minimum                                    
Debt Instrument [Line Items]                                    
Leverage based applicable margin (percent)   1.85%                                
Credit rating pricing election (percent)   1.40%                                
A2029 Term Loan Facility | Unsecured debt | London Inter Bank Offered Rate | Maximum                                    
Debt Instrument [Line Items]                                    
Leverage based applicable margin (percent)   2.30%                                
Credit rating pricing election (percent)   2.25%                                
June 2029 term loan facility | Unsecured debt                                    
Debt Instrument [Line Items]                                    
Maximum borrowing capacity                   $ 285,000,000                
Increase limit                   15,000,000                
Effective interest rate (percent)   5.37%                                
Higher borrowing capacity option                   $ 300,000,000                
Carrying value   $ 285,000,000           285,000,000                    
June 2029 term loan facility | Unsecured debt | Secured Overnight Financing Rate (SOFR)                                    
Debt Instrument [Line Items]                                    
Basis spread on variable rate (percent)   1.00%                                
June 2029 term loan facility | Unsecured debt | Secured Overnight Financing Rate (SOFR) | Minimum                                    
Debt Instrument [Line Items]                                    
Basis spread on variable rate (percent)   1.55%                                
June 2029 term loan facility | Unsecured debt | Secured Overnight Financing Rate (SOFR) | Minimum | Variable Rate Component One                                    
Debt Instrument [Line Items]                                    
Basis spread on variable rate (percent)   1.075%                                
June 2029 term loan facility | Unsecured debt | Secured Overnight Financing Rate (SOFR) | Maximum                                    
Debt Instrument [Line Items]                                    
Basis spread on variable rate (percent)   2.20%                                
June 2029 term loan facility | Unsecured debt | Secured Overnight Financing Rate (SOFR) | Maximum | Variable Rate Component One                                    
Debt Instrument [Line Items]                                    
Basis spread on variable rate (percent)   2.20%                                
June 2029 term loan facility | Unsecured debt | Base Rate | Minimum                                    
Debt Instrument [Line Items]                                    
Basis spread on variable rate (percent)   0.55%                                
June 2029 term loan facility | Unsecured debt | Base Rate | Minimum | Variable Rate Component One                                    
Debt Instrument [Line Items]                                    
Basis spread on variable rate (percent)   0.075%                                
June 2029 term loan facility | Unsecured debt | Base Rate | Maximum                                    
Debt Instrument [Line Items]                                    
Basis spread on variable rate (percent)   1.20%                                
June 2029 term loan facility | Unsecured debt | Base Rate | Maximum | Variable Rate Component One                                    
Debt Instrument [Line Items]                                    
Basis spread on variable rate (percent)   1.20%                                
2029 Senior Unsecured Notes | Unsecured debt                                    
Debt Instrument [Line Items]                                    
Effective interest rate (percent)   3.98%                         3.98%      
Debt issued                             $ 100,000,000      
Carrying value   $ 100,000,000           100,000,000                    
August 2031 Senior Unsecured Notes | Unsecured debt                                    
Debt Instrument [Line Items]                                    
Effective interest rate (percent)   4.08%                         4.08%      
Debt issued                             $ 50,000,000      
Carrying value   $ 50,000,000           50,000,000                    
August 2030 Senior Unsecured Notes | Unsecured debt                                    
Debt Instrument [Line Items]                                    
Effective interest rate (percent)   2.99%                                
Debt issued                           $ 150,000,000        
Carrying value   $ 150,000,000           150,000,000                    
A2032 Senior Notes | Unsecured debt                                    
Debt Instrument [Line Items]                                    
Debt issued                           $ 100,000,000        
May 2026 Senior Unsecured Notes | Unsecured debt                                    
Debt Instrument [Line Items]                                    
Effective interest rate (percent)   2.16%                     2.16%          
Carrying value   $ 35,000,000           35,000,000         $ 35,000,000          
May 2031 Senior Unsecured Notes | Unsecured debt                                    
Debt Instrument [Line Items]                                    
Effective interest rate (percent)   3.00%                     3.00%          
Carrying value   $ 90,000,000           90,000,000         $ 90,000,000          
May 2033 Senior Unsecured Notes | Unsecured debt                                    
Debt Instrument [Line Items]                                    
Effective interest rate (percent)   3.10%                     3.10%          
Carrying value   $ 55,000,000           55,000,000         $ 55,000,000          
November 2030 Senior Unsecured Notes | Unsecured debt                                    
Debt Instrument [Line Items]                                    
Effective interest rate (percent)   2.72%                 2.72%              
Carrying value   $ 75,000,000           75,000,000     $ 75,000,000              
November 2031 Senior Unsecured Notes | Unsecured debt                                    
Debt Instrument [Line Items]                                    
Effective interest rate (percent)   2.81%                 2.81%              
Carrying value   $ 175,000,000           175,000,000     $ 175,000,000              
November 2033 Senior Unsecured Notes | Unsecured debt                                    
Debt Instrument [Line Items]                                    
Effective interest rate (percent)   2.96%                 2.96%              
Carrying value   $ 125,000,000           125,000,000     $ 125,000,000              
2036 Senior Unsecured Notes | Unsecured debt                                    
Debt Instrument [Line Items]                                    
Effective interest rate (percent)   3.06%                 3.06%              
Carrying value   $ 75,000,000           75,000,000     $ 75,000,000              
November 2032 Senior Unsecured Notes | Unsecured debt                                    
Debt Instrument [Line Items]                                    
Effective interest rate (percent)   5.06%             5.06%                  
Carrying value   $ 200,000,000           200,000,000                    
Senior unsecured notes                 $ 200,000,000                  
2028 Senior Notes | Unsecured debt                                    
Debt Instrument [Line Items]                                    
Effective interest rate (percent)   5.75%                                
Debt issued   $ 120,000,000                                
Interest rate (percent)   5.61%                                
October 2026 Notes                                    
Debt Instrument [Line Items]                                    
Debt issued       $ 65,000,000                            
Interest rate (percent)       6.46%                            
October 2028 Notes                                    
Debt Instrument [Line Items]                                    
Debt issued       $ 100,000,000                            
Interest rate (percent)       6.55%                            
October 2030 Notes                                    
Debt Instrument [Line Items]                                    
Debt issued       $ 35,000,000                            
Interest rate (percent)       6.66%                            
October 2033 Notes                                    
Debt Instrument [Line Items]                                    
Debt issued       $ 50,000,000                            
Interest rate (percent)       6.73%                            
Fixed rate mortgages payable | Mortgages                                    
Debt Instrument [Line Items]                                    
Effective interest rate (percent)   3.61%                                
Carrying value   $ 222,757,000           $ 299,570,000                    
Fixed rate mortgages payable | Mortgages | Minimum                                    
Debt Instrument [Line Items]                                    
Effective interest rate (percent)   2.77%                                
Fixed rate mortgages payable | Mortgages | Maximum                                    
Debt Instrument [Line Items]                                    
Effective interest rate (percent)   4.34%                                
2028 Fixed Rate Mortgage Payable | Mortgages                                    
Debt Instrument [Line Items]                                    
Debt issued                       $ 88,000,000            
Interest rate (percent)                       2.77%            
Number of properties securing debt | property                       8