| Schedule of Notes Payable |
Our notes payable at September 30, 2026 and December 31, 2025 are set forth in the tables below: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | September 30, 2026 | | | | December 31, 2025 | | Coupon Rate | | Effective Rate | | Amount | | | | | | Fair Value | | | | Amount | | Fair Value | | | | | | | | | | | | | | | | | | | | | | | | (Dollar amounts in thousands) | | U.S. Dollar Denominated Unsecured Debt | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Notes due February 15, 2026 | 0.875% | | 0.000% | | $ | — | | | | | | | $ | — | | | | | $ | 500,000 | | | $ | 497,958 | | | Notes due November 9, 2026 | 1.500% | | 1.640% | | 650,000 | | | | | | | 647,933 | | | | | 650,000 | | | 636,828 | | | Notes due April 16, 2027 | SOFR+0.70% | | 4.332% | | 700,000 | | | | | | | 699,932 | | | | | 700,000 | | | 703,891 | | | Notes due September 15, 2027 | 3.094% | | 3.218% | | 500,000 | | | | | | | 491,593 | | | | | 500,000 | | | 494,206 | | | Notes due May 1, 2028 | 1.850% | | 1.962% | | 650,000 | | | | | | | 617,320 | | | | | 650,000 | | | 620,402 | | | Notes due November 9, 2028 | 1.950% | | 2.044% | | 550,000 | | | | | | | 514,372 | | | | | 550,000 | | | 520,843 | | | Notes due January 15, 2029 | 5.125% | | 5.260% | | 500,000 | | | | | | | 498,968 | | | | | 500,000 | | | 516,660 | | | Notes due May 1, 2029 | 3.385% | | 3.459% | | 500,000 | | | | | | | 476,836 | | | | | 500,000 | | | 489,405 | | Notes due July 1, 2030 (a) | 4.375% | | 4.568% | | 475,000 | | | | | | | 457,548 | | | | | 475,000 | | | 478,958 | | | Notes due May 1, 2031 | 2.300% | | 2.419% | | 650,000 | | | | | | | 563,799 | | | | | 650,000 | | | 588,030 | | | Notes due August 31, 2031 | SOFR+0.70% | | 4.386% | | 500,000 | | | | | | | 500,000 | | | | | — | | | — | | | Notes due November 9, 2031 | 2.250% | | 2.322% | | 550,000 | | | | | | | 467,762 | | | | | 550,000 | | | 490,580 | | | Notes due February 01, 2032 | 4.700% | | 4.950% | | 400,000 | | | | | | | 382,390 | | | | | — | | | — | | | Notes due August 1, 2033 | 5.100% | | 5.207% | | 700,000 | | | | | | | 670,670 | | | | | 700,000 | | | 724,886 | | | Notes due July 1, 2035 | 5.000% | | 5.245% | | 400,000 | | | | | | | 372,439 | | | | | 400,000 | | | 406,046 | | | Notes due December 15, 2035 | 5.000% | | 5.195% | | 500,000 | | | | | | | 464,671 | | | | | — | | | — | | | Notes due August 15, 2036 | 5.150% | | 5.421% | | 500,000 | | | | | | | 466,486 | | | | | — | | | — | | | Notes due August 1, 2053 | 5.350% | | 5.474% | | 900,000 | | | | | | | 776,614 | | | | | 900,000 | | | 870,986 | | | | | | | 9,625,000 | | | | | | | 9,069,333 | | | | | 8,225,000 | | | 8,039,679 | | | | | | | | | | | | | | | | | | | | | Euro Denominated Unsecured Debt | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Notes due September 9, 2030 | 0.500% | | 0.640% | | 793,954 | | | | | | | 687,882 | | | | | 821,758 | | | 727,308 | | | Notes due January 24, 2032 | 0.875% | | 0.978% | | 567,110 | | | | | | | 471,667 | | | | | 586,970 | | | 508,532 | | | Notes due January 20, 2034 | 3.500% | | 3.836% | | 482,044 | | | | | | | 446,148 | | | | | 498,925 | | | 441,580 | | | Notes due April 11, 2039 | 4.080% | | 4.080% | | 170,133 | | | | | | | 157,811 | | | | | 176,091 | | | 177,535 | | | | | | | 2,013,241 | | | | | | | 1,763,508 | | | | | 2,083,744 | | | 1,854,955 | | | Canadian Denominated Unsecured Debt | | | | | | | | | | | | | | | | | | | Notes due September 16, 2033 | 4.540% | | 4.577% | | 281,640 | | | | | | | 279,274 | | | | | — | | | — | | | | | | | | | | | | | | | | | | | | Mortgage Debt, secured by 32 real estate facilities with a net book value of 543.6 million | 3.449% | | 3.449% | | 174,373 | | | | | | | 162,408 | | | | | 1,576 | | | 1,545 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total | | | | | 12,094,254 | | | | | | | $ | 11,274,523 | | | | | 10,310,320 | | | $ | 9,896,179 | | | Aggregate debt issuance costs and unamortized premium (discount), net | | | | | (80,430) | | | | | | | | | | | (56,581) | | | | | Hedge accounting fair value adjustment (a) | | | | | (21,791) | | | | | | | | | | | 142 | | | | | Total | | | | | $ | 11,992,033 | | | | | | | | | | | $ | 10,253,881 | | | |
(a) The book value includes $21.8 million in adjustments related to changes in fair value attributable to hedging instruments on these notes as of September 30, 2026. See below for further discussion.
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| Schedule of Maturities of Notes Payable |
At September 30, 2026, approximate principal maturities of our Notes Payable are as follows: | | | | | | | | | | | | | | | | | | | Unsecured Debt | | Mortgage Debt | | Total | | | | | | | | (Amounts in thousands) | | | | | | | | Remainder of 2026 | $ | 650,000 | | $ | 35 | | $ | 650,035 | | 2027 | 1,200,000 | | 85,046 | | 1,285,046 | | 2028 | 1,200,000 | | 88,129 | | 1,288,129 | | 2029 | 1,000,000 | | 88 | | 1,000,088 | | 2030 | 1,268,954 | | 1,075 | | 1,270,029 | | Thereafter | 6,600,927 | | — | | 6,600,927 | | $ | 11,919,881 | | $ | 174,373 | | $ | 12,094,254 | | Weighted average effective rate | 3.6% | | 3.4% | | 3.6% |
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