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Mortgage Notes Payable, Unsecured Notes and Credit Facility (Tables) | 12 Months Ended
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Dec. 31, 2020
Debt Disclosure [Abstract] |
Summary of company's mortgage notes payable, unsecured notes, term loan and credit facility | 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, 2020 and 2019, as shown on the Consolidated Balance Sheets (dollars in thousands) (see Note 6, “Real Estate Disposition Activities”).
| 12/31/20 |  | 12/31/19
Fixed rate unsecured notes (1) | $ | 6,500,000 |  |  | $ | 5,850,000 |
Variable rate unsecured notes (1) | — |  |  | 300,000 |
Term Loans (1) | 250,000 |  |  | 250,000 |
Fixed rate mortgage notes payable—conventional and tax-exempt (2) | 408,964 |  |  | 479,221 |
Variable rate mortgage notes payable—conventional and tax-exempt (2) | 470,850 |  |  | 476,150 |
Total mortgage notes payable and unsecured notes and Term Loans | 7,629,814 |  |  | 7,355,371 |
Credit Facility | — |  |  | — |
Total mortgage notes payable, unsecured notes, Term Loans and Credit Facility | $ | 7,629,814 |  |  | $ | 7,355,371 |
_________________________________ (1) Balances at December 31, 2020 and 2019 exclude $10,380 and $8,610, respectively, of debt discount, and $37,615 and $32,742, respectively, of deferred financing costs, as reflected in unsecured notes, net on the accompanying Consolidated Balance Sheets. (2) Balances at December 31, 2020 and 2019 exclude $14,478 and $14,464 of debt discount, respectively, and $3,004 and $3,265, respectively, of deferred financing costs, as reflected in mortgage notes payable, net on the accompanying Consolidated Balance Sheets.
Scheduled payments and maturities of mortgage notes payable and unsecured notes outstanding | Scheduled payments and maturities of secured notes payable and unsecured notes outstanding at December 31, 2020 are as follows (dollars in thousands):
Year |  | Secured notes principal payments |  | Secured notes maturities |  | Unsecured notes and Term Loans maturities |  | Stated interest rate of unsecured notes and Term Loans
2021 |  | $ | 9,304 |  |  | $ | 27,844 |  |  | $ | — |  |  | N/A
2022 |  | 9,918 |  |  | — |  |  | 450,000 |  |  | 2.950 | %
|  |  |  |  |  | 100,000 |  |  | LIBOR + 0.90%
2023 |  | 10,739 |  |  | — |  |  | 350,000 |  |  | 4.200 | %
|  |  |  |  |  | 250,000 |  |  | 2.850 | %
2024 |  | 11,677 |  |  | — |  |  | 300,000 |  |  | 3.500 | %
|  |  |  |  |  | 150,000 |  |  | LIBOR + 0.85%
2025 |  | 12,408 |  |  | — |  |  | 525,000 |  |  | 3.450 | %
|  |  |  |  |  | 300,000 |  |  | 3.500 | %
2026 |  | 13,445 |  |  | — |  |  | 475,000 |  |  | 2.950 | %
|  |  |  |  |  | 300,000 |  |  | 2.900 | %
2027 |  | 15,880 |  |  | 236,100 |  |  | 400,000 |  |  | 3.350 | %
2028 |  | 20,707 |  |  | — |  |  | 450,000 |  |  | 3.200 | %
2029 |  | 11,742 |  |  | 66,250 |  |  | 450,000 |  |  | 3.300 | %
2030 |  | 12,384 |  |  | — |  |  | 700,000 |  |  | 2.300 | %
Thereafter |  | 176,078 |  |  | 245,338 |  |  | 600,000 |  |  | 2.450 | %
|  |  |  |  |  | 350,000 |  |  | 3.900 | %
|  |  |  |  |  | 300,000 |  |  | 4.150 | %
|  |  |  |  |  | 300,000 |  |  | 4.350 | %
|  | $ | 304,282 |  |  | $ | 575,532 |  |  | $ | 6,750,000 |  |  |

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