Debt - Summary (Details)
$ in Thousands |
|
12 Months Ended |
17 Months Ended |
|
Sep. 01, 2022 |
Dec. 31, 2024
USD ($)
extention
Rate
|
Dec. 31, 2023
USD ($)
|
Dec. 31, 2022
USD ($)
|
Jun. 29, 2024 |
Jan. 15, 2025
Rate
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Principal outstanding |
|
$ 3,029,135
|
$ 2,624,046
|
|
|
|
| Long-Term Debt, Gross |
|
3,038,322
|
2,631,537
|
|
|
|
| Debt Issuance Costs, Net |
|
$ 9,060
|
7,355
|
|
|
|
| Weighted average interest rate | Rate |
|
3.98%
|
|
|
|
|
| Remaining borrowing capacity |
|
$ 586,800
|
|
|
|
|
| Amortization of deferred financing fees and debt issuance costs and fair market value discount |
|
|
|
$ 3,747
|
|
|
| Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration] |
|
Secured Overnight Financing Rate (SOFR)
|
|
|
|
|
| Minimum |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Line of Credit Facility, Commitment Fee Percentage |
|
0.10%
|
|
|
|
|
| Maximum |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Line of Credit Facility, Commitment Fee Percentage |
|
0.30%
|
|
|
|
|
| Interest Rate Swaps |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Notional amount fixed and used to calculate interest |
|
$ 1,025,000
|
|
|
|
|
| Interest Expense [Member] |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Amortization of deferred financing fees and debt issuance costs and fair market value discount |
|
4,506
|
3,905
|
|
|
|
| Facility, unused, and other fees |
|
1,765
|
1,759
|
$ 1,548
|
|
|
| Accounts Payable and Accrued Liabilities [Member] |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Interest payable |
|
13,700
|
14,600
|
|
|
|
| Unsecured Credit Facility |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Principal outstanding |
|
$ 409,000
|
402,000
|
|
|
|
| Debt Instrument, Maturity Date |
|
Sep. 07, 2029
|
|
|
|
|
| Debt Instrument, Interest Rate, Increase (Decrease) |
|
(0.10%)
|
|
|
|
|
| Unsecured Term Loan A |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Debt Instrument, Maturity Date |
|
Mar. 15, 2027
|
|
|
|
|
| Unsecured Term Loan F(5) |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Debt Instrument, Maturity Date |
|
Mar. 23, 2029
|
|
|
|
|
| Unsecured Term Loan F(5) | Forecast [Member] |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Fixed Interest Rate (as a percent) | Rate |
|
|
|
|
|
3.98%
|
| Unsecured Term Loan F(5) | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Debt Instrument, Interest Rate, Increase (Decrease) |
|
(0.10%)
|
|
|
|
|
| Series A Unsecured Notes |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Debt Instrument, Maturity Date |
|
Oct. 01, 2024
|
|
|
|
|
| Series D Unsecured Notes |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Debt Instrument, Maturity Date |
|
Feb. 20, 2025
|
|
|
|
|
| Series G Unsecured Notes |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Debt Instrument, Maturity Date |
|
Jun. 13, 2025
|
|
|
|
|
| Series B Unsecured Notes |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Debt Instrument, Maturity Date |
|
Jul. 01, 2026
|
|
|
|
|
| Series C Unsecured Notes |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Debt Instrument, Maturity Date |
|
Dec. 30, 2026
|
|
|
|
|
| Series E Unsecured Notes |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Debt Instrument, Maturity Date |
|
Feb. 20, 2027
|
|
|
|
|
| Series H Unsecured Notes |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Debt Instrument, Maturity Date |
|
Jun. 13, 2028
|
|
|
|
|
| $175 Million Series L Unsecured Notes |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Debt Instrument, Maturity Date |
|
May 28, 2029
|
|
|
|
|
| $125 Million Series M Unsecured Notes |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Debt Instrument, Maturity Date |
|
May 28, 2031
|
|
|
|
|
| $275 Million Series I Unsecured Notes |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Debt Instrument, Maturity Date |
|
Sep. 29, 2031
|
|
|
|
|
| $400 Million Series K Unsecured Notes |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Debt Instrument, Maturity Date |
|
Jun. 28, 2032
|
|
|
|
|
| $50 Million Series J Unsecured Notes |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Debt Instrument, Maturity Date |
|
Sep. 28, 2033
|
|
|
|
|
| $150 Million Series N Unsecured Notes |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Debt Instrument, Maturity Date |
|
May 28, 2034
|
|
|
|
|
| United of Omaha Life Insurance Company |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Debt Instrument, Maturity Date |
|
Oct. 01, 2039
|
|
|
|
|
| Term Loans A,F,G | Secured Overnight Financing Rate (SOFR) |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Interest rate margin (as a percent) | Rate |
|
0.85%
|
|
|
|
|
| Term Loans H, I |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Debt Instrument, Interest Rate, Increase (Decrease) |
|
|
|
|
0.02%
|
|
| Unsecured Credit Facility |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Principal outstanding |
|
$ 409,000
|
402,000
|
|
|
|
| Maximum borrowing capacity |
|
$ 1,000,000
|
|
|
|
|
| Number Of Extensions | extention |
|
2
|
|
|
|
|
| Extension Period |
|
6 months
|
|
|
|
|
| Unsecured Credit Facility | Prepaid Expenses and Other Assets |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Debt Issuance Costs, Net |
|
$ 10,100
|
3,300
|
|
|
|
| Unsecured Credit Facility | Secured Overnight Financing Rate (SOFR) |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Interest rate margin (as a percent) |
|
0.775%
|
|
|
|
|
| Unsecured Term Loans |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Long-Term Debt, Gross |
|
$ 1,025,000
|
1,025,000
|
|
|
|
| Debt Issuance Costs, Net |
|
3,152
|
3,227
|
|
|
|
| Unsecured Term Loans | Term Loan [Member] |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Principal outstanding |
|
1,021,848
|
1,021,773
|
|
|
|
| Unsecured Term Loans | Unsecured Term Loan G |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Long-Term Debt, Gross |
|
$ 300,000
|
300,000
|
|
|
|
| Stated interest rate | Rate |
|
1.80%
|
|
|
|
|
| Debt Instrument, Maturity Date |
|
Feb. 05, 2026
|
|
|
|
|
| Fixed Interest Rate (as a percent) | Rate |
|
0.95%
|
|
|
|
|
| Unsecured Term Loans | Unsecured Term Loan A |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Long-Term Debt, Gross |
|
$ 150,000
|
150,000
|
|
|
|
| Stated interest rate | Rate |
|
2.16%
|
|
|
|
|
| Fixed Interest Rate (as a percent) | Rate |
|
1.31%
|
|
|
|
|
| Unsecured Term Loans | Unsecured Term Loan H |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Long-Term Debt, Gross |
|
$ 187,500
|
187,500
|
|
|
|
| Stated interest rate | Rate |
|
3.35%
|
|
|
|
|
| Debt Instrument, Maturity Date |
|
Jan. 25, 2028
|
|
|
|
|
| Fixed Interest Rate (as a percent) |
|
2.50%
|
|
|
|
|
| Unsecured Term Loans | Unsecured Term Loan I |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Long-Term Debt, Gross |
|
$ 187,500
|
187,500
|
|
|
|
| Stated interest rate | Rate |
|
3.51%
|
|
|
|
|
| Debt Instrument, Maturity Date |
|
Jan. 25, 2028
|
|
|
|
|
| Fixed Interest Rate (as a percent) |
|
2.66%
|
|
|
|
|
| Unsecured Term Loans | Unsecured Term Loan F(5) |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Long-Term Debt, Gross |
|
$ 200,000
|
200,000
|
|
|
|
| Stated interest rate | Rate |
|
2.96%
|
|
|
|
|
| Fixed Interest Rate (as a percent) | Rate |
|
2.11%
|
|
|
|
|
| Unsecured Term Loans | Unsecured Term Loan F(5) | Forecast [Member] |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Fixed Interest Rate (as a percent) |
|
|
|
|
|
3.98%
|
| Unsecured Term Loans | Term Loans A,F,G |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Debt Instrument, Interest Rate, Increase (Decrease) |
(0.10%)
|
|
|
|
|
|
| Unsecured Notes |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Long-Term Debt, Gross |
|
$ 1,600,000
|
1,200,000
|
|
|
|
| Debt Issuance Costs, Net |
|
5,908
|
4,128
|
|
|
|
| Unsecured Notes | Unsecured Notes [Member] |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Principal outstanding |
|
1,594,092
|
1,195,872
|
|
|
|
| Unsecured Notes | Series A Unsecured Notes |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Long-Term Debt, Gross |
|
$ 0
|
50,000
|
|
|
|
| Stated interest rate | Rate |
|
4.98%
|
|
|
|
|
| Unsecured Notes | Series D Unsecured Notes |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Long-Term Debt, Gross |
|
$ 100,000
|
100,000
|
|
|
|
| Stated interest rate | Rate |
|
4.32%
|
|
|
|
|
| Unsecured Notes | Series G Unsecured Notes |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Long-Term Debt, Gross |
|
$ 75,000
|
75,000
|
|
|
|
| Stated interest rate | Rate |
|
4.10%
|
|
|
|
|
| Unsecured Notes | Series B Unsecured Notes |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Long-Term Debt, Gross |
|
$ 50,000
|
50,000
|
|
|
|
| Stated interest rate | Rate |
|
4.98%
|
|
|
|
|
| Unsecured Notes | Series C Unsecured Notes |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Long-Term Debt, Gross |
|
$ 80,000
|
80,000
|
|
|
|
| Stated interest rate | Rate |
|
4.42%
|
|
|
|
|
| Unsecured Notes | Series E Unsecured Notes |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Long-Term Debt, Gross |
|
$ 20,000
|
20,000
|
|
|
|
| Stated interest rate | Rate |
|
4.42%
|
|
|
|
|
| Unsecured Notes | Series H Unsecured Notes |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Long-Term Debt, Gross |
|
$ 100,000
|
100,000
|
|
|
|
| Stated interest rate | Rate |
|
4.27%
|
|
|
|
|
| Unsecured Notes | $175 Million Series L Unsecured Notes |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Long-Term Debt, Gross |
|
$ 175,000
|
0
|
|
|
|
| Stated interest rate | Rate |
|
6.05%
|
|
|
|
|
| Unsecured Notes | $125 Million Series M Unsecured Notes |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Long-Term Debt, Gross |
|
$ 125,000
|
0
|
|
|
|
| Stated interest rate | Rate |
|
6.17%
|
|
|
|
|
| Unsecured Notes | $275 Million Series I Unsecured Notes |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Long-Term Debt, Gross |
|
$ 275,000
|
275,000
|
|
|
|
| Stated interest rate | Rate |
|
2.80%
|
|
|
|
|
| Unsecured Notes | $400 Million Series K Unsecured Notes |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Long-Term Debt, Gross |
|
$ 400,000
|
400,000
|
|
|
|
| Stated interest rate | Rate |
|
4.12%
|
|
|
|
|
| Unsecured Notes | $50 Million Series J Unsecured Notes |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Long-Term Debt, Gross |
|
$ 50,000
|
50,000
|
|
|
|
| Stated interest rate | Rate |
|
2.95%
|
|
|
|
|
| Unsecured Notes | $150 Million Series N Unsecured Notes |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Long-Term Debt, Gross |
|
$ 150,000
|
0
|
|
|
|
| Stated interest rate | Rate |
|
6.30%
|
|
|
|
|
| Mortgage Loans Payable |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Principal outstanding |
|
$ 4,195
|
4,401
|
|
|
|
| Long-Term Debt, Gross |
|
4,322
|
4,537
|
|
|
|
| Debt Instrument, Unamortized Discount (Premium), Net |
|
(127)
|
(136)
|
|
|
|
| Mortgage Loans Payable | United of Omaha Life Insurance Company |
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
| Long-Term Debt, Gross |
|
$ 4,322
|
$ 4,537
|
|
|
|
| Stated interest rate | Rate |
|
3.71%
|
|
|
|
|