Number of properties may be contributed in the agreement

[Table of Contents](#ifa3dff468a15495db7b57c65ada0de74_7)Debt MaturitiesThe following table summarizes the Company’s stated debt maturities and scheduled principal repayments at March 31, 2022 (dollars in thousands):

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|  |  |  |  |  |  |  |  | Senior UnsecuredNotes(2) |  | MortgageDebt(3) |  |  |
| Year |  | Bank Line ofCredit |  | Commercial Paper(1) |  |  |  | Amount |  | Interest Rate |  | Amount |  | Interest Rate |  | Total |
| 2022 |  | $ | —  |  |  | $ | —  |  |  |  |  | $ | —  |  |  | —  | % |  | $ | 3,778  |  |  | 3.80  | % |  | $ | 3,778  |  |
| 2023 |  | —  |  |  | —  |  |  |  |  | —  |  |  | —  | % |  | 90,089  |  |  | 3.80  | % |  | 90,089  |  |
| 2024 |  | —  |  |  | —  |  |  |  |  | —  |  |  | —  | % |  | 7,024  |  |  | 3.81  | % |  | 7,024  |  |
| 2025 |  | —  |  |  | —  |  |  |  |  | 800,000  |  |  | 3.93  | % |  | 3,209  |  |  | 3.80  | % |  | 803,209  |  |
| 2026 |  | —  |  |  | 1,330,813  |  |  |  |  | 650,000  |  |  | 3.39  | % |  | 244,523  |  |  | 3.11  | % |  | 2,225,336  |  |
| Thereafter |  | —  |  |  | —  |  |  |  |  | 3,250,000  |  |  | 3.24  | % |  | 366  |  |  | 5.91  | % |  | 3,250,366  |  |
|   |  | —  |  |  | 1,330,813  |  |  |  |  | 4,700,000  |  |  |  |  | 348,989  |  |  |  |  | 6,379,802  |  |
| (Discounts), premium and debt costs, net |  | —  |  |  | —  |  |  |  |  | (45,944) |  |  |  |  | 1,724  |  |  |  |  | (44,220) |  |
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|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | $ | —  |  |  | $ | 1,330,813  |  |  |  |  | $ | 4,654,056  |  |  |  |  | $ | 350,713  |  |  |  |  | $ | 6,335,582  |  |

\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_(1)Commercial Paper Program borrowings are backstopped by the Revolving Facility. As such, the Company calculates the weighted average remaining term of its Commercial Paper Program borrowings using the maturity date of the Revolving Facility. (2)Effective interest rates on the senior unsecured notes range from 1.54% to 6.91% with a weighted average effective interest rate of 3.39% and a weighted average maturity of 7 years. (3)Effective interest rates on the mortgage debt range from 2.72% to 5.91% with a weighted average effective interest rate of 3.36% and a weighted average maturity of 4 years.NOTE 10.  Commitments and Contingencies

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Legal ProceedingsFrom time to time, the Company is a party to legal proceedings, lawsuits and other claims that arise in the ordinary course of the Company’s business. The Company is not aware of any legal proceedings or claims that it believes may have, individually or taken together, a material adverse effect on the Company’s financial condition, results of operations, or cash flows. The Company’s policy is to expense legal costs as they are incurred.DownREITs and Other PartnershipsIn connection with the formation of certain limited liability companies (“DownREITs”), members may contribute appreciated real estate to a DownREIT in exchange for DownREIT units. These contributions are generally tax-deferred, so that the pre-contribution gain related to the property is not taxed to the member. However, if a contributed property is later sold by the DownREIT, the unamortized pre-contribution gain that exists at the date of sale is specifically allocated and taxed to the contributing members. In many of the DownREITs, the Company has entered into indemnification agreements with those members who contributed appreciated property into the DownREIT. Under these indemnification agreements, if any of the appreciated real estate contributed by the members is sold by the DownREIT in a taxable transaction within a specified number of years, the Company will reimburse the affected members for the federal and state income taxes associated with the pre-contribution gain that is specially allocated to the affected member under the Internal Revenue Code (“make-whole payments”). These make-whole payments include a tax gross-up provision. These indemnification agreements have expirations terms that range through 2039 on a total of 29 properties. Additionally, the Company owns a 49% interest in the Life Science JV (see Note 7). If the property in the joint venture is sold in a taxable transaction, the Company is generally obligated to indemnify its joint venture partner for its federal and state income taxes associated with the gain that existed at the time of the contribution to the joint venture.20
