v3.25.3
Debt - Schedule of Summarized Real Estate Secured Debt (Parenthetical) (Detail)
$ in Thousands, $ in Millions
 9 Months Ended
Mar. 07, 2024
Nov. 16, 2023
CAD ($)
Mar. 17, 2021
USD ($)
Property
Sep. 30, 2025
USD ($)
Property
Sep. 30, 2024
USD ($)
Oct. 01, 2025
Apr. 11, 2025
USD ($)
Feb. 04, 2025
USD ($)
Dec. 31, 2024
USD ($)
Debt Instrument [Line Items]                  
Debt Instrument Carrying Amount       $ 1,047,957          
Proceeds from line of credit       $ 222,000 $ 659,000        
Debt Instrument Variable Rate           4.53%      
Debt Instrument Fixed Rate           4.53%      
2032 Private Placement Notes                  
Debt Instrument [Line Items]                  
Senior notes maturity date [1]       Apr. 19, 2032          
Debt Instrument Carrying Amount [1]       $ 150,000         $ 150,000
Interest rate [1]       5.28%          
2028 Canadian Term Loan                  
Debt Instrument [Line Items]                  
Senior notes maturity date   Dec. 01, 2028   Dec. 01, 2028 [2],[3]          
Debt Instrument Carrying Amount [2],[3]       $ 79,035         76,527
Proceeds from line of credit   $ 110.0              
Interest rate   6.41%   6.41% [2],[3]          
Term   25 years              
Credit Facility                  
Debt Instrument [Line Items]                  
Initial maximum amount available             $ 700,000    
Senior notes maturity date       Feb. 22, 2027          
Debt Instrument Carrying Amount       $ 11,826         614,831
Interest rate       5.74%          
SOFR | Credit Facility                  
Debt Instrument [Line Items]                  
Spread on Variable Rate       0.014%          
SOFR Index Adjustment | Credit Facility                  
Debt Instrument [Line Items]                  
Spread on Variable Rate       0.10%          
KeyBank Property Loan | Credit Facility                  
Debt Instrument [Line Items]                  
Credit Facility increase commitments               $ 50,000  
Initial maximum amount available               700,000  
KeyBank SST IV CMBS Loan                  
Debt Instrument [Line Items]                  
Number of properties encumbered | Property     7            
Senior notes maturity date     Feb. 01, 2030            
Debt Instrument Carrying Amount     $ 40,500            
2027 NBC Loan                  
Debt Instrument [Line Items]                  
Debt Instrument Carrying Amount [3],[4]       $ 0         51,425
2027 NBC Loan | CORRA Swap                  
Debt Instrument [Line Items]                  
Interest rate       6.42%          
2027 NBC Loan | CORRA Adjustment                  
Debt Instrument [Line Items]                  
Spread on Variable Rate 2.20%     2.20%          
Debt Instrument Variable Rate 0.30%     0.30%          
Debt Instrument Fixed Rate 0.30%     0.30%          
Fixed Rate Secured Debt | KeyBank CMBS Loan                  
Debt Instrument [Line Items]                  
Number of properties encumbered | Property       29          
Senior notes maturity date [5]       Aug. 01, 2026          
Debt Instrument Carrying Amount [5]       $ 87,835         89,240
Debt Instrument Variable Rate [5]       3.89%          
Debt Instrument Fixed Rate [5]       3.89%          
Fixed Rate Secured Debt | KeyBank Property Loan                  
Debt Instrument [Line Items]                  
Credit Facility increase commitments               50,000  
Initial maximum amount available               700,000  
Credit facility utilized               $ 51,000  
Fixed Rate Secured Debt | CMBS Loan                  
Debt Instrument [Line Items]                  
Number of properties encumbered | Property       10          
Senior notes maturity date [6]       Feb. 01, 2029          
Debt Instrument Carrying Amount [6]       $ 104,000         $ 104,000
Debt Instrument Variable Rate [6]       5.00%          
Debt Instrument Fixed Rate [6]       5.00%          
[1] Subsequent to September 30, 2025, the Total Leverage Ratio Event had ended, and the interest rate reverted to 4.53% as of October 1, 2025.
[2] On November 16, 2023, we, through eight of our wholly-owned Canadian subsidiaries entered into a term loan (the "2028 Canadian Term Loan") with affiliates of QuadReal Finance LP, receiving net proceeds of $110.0 million CAD on such date. The 2028 Canadian Term Loan is secured by eight Canadian properties, has a maturity date of December 1, 2028, and carries a fixed interest rate for the term of the loan of 6.41%. The first two years of the Canadian Term Loan are interest only, after which it requires monthly amortizing payments based on a 25-year amortization schedule.
[3] The amounts shown above are in USD based on the foreign exchange rate in effect as of the date presented.
[4] This loan incurred interest at an all in rate of CORRA (as defined further below under the section entitled "2027 NBC Loan"), plus a CORRA adjustment of approximately 0.30%, plus a spread of 2.20%. The effective interest rate on this loan was 6.42% when factoring the effects of a CORRA Swap which we entered into with the National Bank of Canada for the initial term of the loan. The Dufferin, Oakville II, Burlington II, Iroquois Shore Rd, and Stoney Creek I properties were encumbered by this loan. See Note 7 – Derivative Instruments for additional information.
[5] This fixed rate loan encumbers 29 properties (Whittier, La Verne, Santa Ana, Upland, La Habra, Monterey Park, Huntington Beach, Chico, Lancaster I, Riverside, Fairfield, Lompoc, Santa Rosa, Federal Heights, Aurora, Littleton, Bloomingdale, Crestwood, Forestville, Warren I, Sterling Heights, Troy, Warren II, Beverly, Everett, Foley, Tampa, Boynton Beach, and Lancaster II) with monthly interest only payments until September 2021, at
which time both interest and principal payments became due monthly. The separate assets of these encumbered properties are not available to pay our other debts, and we serve as a non-recourse guarantor under this loan.
[6] This fixed rate, interest only loan encumbers 10 properties (Myrtle Beach I, Myrtle Beach II, Port St. Lucie, Plantation, Sonoma, Las Vegas I, Las Vegas II, Las Vegas III, Ft Pierce, and Nantucket Island). The separate assets of these encumbered properties are not available to pay our other debts, and we serve as a non-recourse guarantor under this loan.