| Summary of company's mortgage notes payable, unsecured notes and Credit Facility excluding mortgage notes secured by communities classified as held for sale |
The following amounts and discussion do not include the mortgage notes related to the communities classified as held for sale, if any, as of December 31, 2012 and 2011, as shown in the Consolidated Balance Sheets (dollars in thousands) (see Note 6, "Real Estate Disposition Activities").
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12-31-12 |
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12-31-11 |
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Fixed rate unsecured notes(1) |
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$ |
1,950,000 |
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$ |
1,556,001 |
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Variable rate unsecured notes(1) |
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— |
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|
75,000 |
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Fixed rate mortgage notes payable—conventional and tax-exempt(2) |
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1,427,133 |
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1,528,783 |
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Variable rate mortgage notes payable—conventional and tax-exempt |
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|
476,935 |
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|
440,241 |
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| |
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Total notes payable and unsecured notes |
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3,854,068 |
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|
3,600,025 |
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Credit Facility |
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— |
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— |
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| |
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Total mortgage notes payable, unsecured notes and Credit Facility |
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$ |
3,854,068 |
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$ |
3,600,025 |
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- (1)
- Balances at December 31, 2012 and December 31, 2011 exclude $4,202 and $1,802 of debt discount, and $0 and $11, respectively for basis adjustments, as reflected in unsecured notes, net on the Company's Consolidated Balance Sheets.
- (2)
- Balances at December 31, 2012 and December 31, 2011 exclude $1,167 and $962 of debt premium as reflected in mortgage notes payable on the Company's Consolidated Balance Sheets.
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| Scheduled payments and maturities of mortgage notes payable and unsecured notes outstanding |
Scheduled payments and maturities of mortgage notes payable and unsecured notes outstanding at December 31, 2012 are as follows (dollars in thousands):
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Year |
|
Secured
notes
payments(1) |
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Secured
notes
maturities |
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Unsecured
notes
maturities |
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Stated
interest rate
of unsecured
notes |
|
|
2013 |
|
$ |
13,375 |
|
$ |
223,473 |
|
$ |
100,000 |
|
|
4.950 |
% |
|
2014 |
|
|
14,284 |
|
|
— |
|
|
150,000 |
|
|
5.375 |
% |
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2015 |
|
|
12,170 |
|
|
406,083 |
|
|
— |
|
|
— |
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2016 |
|
|
12,807 |
|
|
— |
|
|
250,000 |
|
|
5.750 |
% |
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2017 |
|
|
13,709 |
|
|
18,300 |
|
|
250,000 |
|
|
5.700 |
% |
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2018 |
|
|
14,330 |
|
|
11,073 |
|
|
— |
|
|
— |
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2019 |
|
|
2,597 |
|
|
610,813 |
|
|
— |
|
|
— |
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2020 |
|
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2,768 |
|
|
— |
|
|
250,000 |
|
|
6.100 |
% |
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2021 |
|
|
2,952 |
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— |
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|
250,000 |
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|
3.950 |
% |
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2022 |
|
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3,147 |
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— |
|
|
450,000 |
|
|
2.950 |
% |
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Thereafter |
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|
83,552 |
|
|
458,635 |
|
|
250,000 |
|
|
2.850 |
% |
| |
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|
|
|
|
|
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$ |
175,691 |
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$ |
1,728,377 |
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$ |
1,950,000 |
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- (1)
- Secured note payments are comprised of the principal pay downs for amortizing mortgage notes.
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