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Debt (Tables) | 6 Months Ended
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Jun. 30, 2020
Debt Instrument [Line Items] |
Summary of Mortgage Notes Payable Activity | The following table summarizes the Company’s mortgage notes payable activity for the six months ended June 30, 2020 (amounts in thousands):
|  | Mortgage notes payable, net as of December 31, 2019 |  |  | Proceeds |  |  | Lump sum payoffs |  |  | Scheduled principal repayments |  |  | Amortization of premiums/ discounts |  |  | Amortization of deferred financing costs, net (1) |  |  | Mortgage notes payable, net as of June 30, 2020 |
Fixed Rate Debt: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Secured – Conventional |  | $ | 1,574,699 |  |  | $ | 495,000 |  | (2) | $ | (91,500 | ) |  | $ | (3,873 | ) |  | $ | 571 |  |  | $ | (2,035 | ) |  | $ | 1,972,862 |
Floating Rate Debt: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Secured – Conventional |  |  | 7,050 |  |  |  | 145 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 120 |  |  |  | 7,315 |
Secured – Tax Exempt |  |  | 359,861 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 620 |  |  |  | 99 |  |  |  | 360,580 |
Floating Rate Debt |  |  | 366,911 |  |  |  | 145 |  |  |  | — |  |  |  | — |  |  |  | 620 |  |  |  | 219 |  |  |  | 367,895 |
Total |  | $ | 1,941,610 |  |  | $ | 495,145 |  |  | $ | (91,500 | ) |  | $ | (3,873 | ) |  | $ | 1,191 |  |  | $ | (1,816 | ) |  | $ | 2,340,757 |
(1) | Represents amortization of deferred financing costs, net of debt financing costs.
(2) | Obtained a 2.60% fixed rate mortgage loan pool maturing on May 1, 2030.
The following table summarizes the Company’s debt extinguishment costs on mortgages recorded as additional interest expense during the six months ended June 30, 2020 (amounts in thousands):
Description |  | Amount |
Write-offs of unamortized deferred financing costs |  | $ | 32 |
Summary of Notes Activity | The following table summarizes the Company’s notes activity for the six months ended June 30, 2020 (amounts in thousands):
|  | Notes, net as of December 31, 2019 |  |  | Proceeds |  |  | Lump sum payoffs |  |  | Amortization of premiums/ discounts |  |  | Amortization of deferred financing costs, net (1) |  |  | Notes, net as of June 30, 2020 |
Fixed Rate Debt: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unsecured – Public |  | $ | 6,077,513 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,362 |  |  | $ | 2,227 |  |  | $ | 6,081,102 |
(1) | Represents amortization of deferred financing costs, net of debt financing costs.
Schedule of Unsecured Revolving Credit Facility | The following table presents the availability on the Company’s unsecured revolving credit facility as of June 30, 2020 (amounts in thousands):
|  | June 30, 2020 |
Unsecured revolving credit facility commitment |  | $ | 2,500,000 |
Commercial paper balance outstanding |  |  | — |
Unsecured revolving credit facility balance outstanding |  |  | — |
Other restricted amounts |  |  | (100,949 | )
Unsecured revolving credit facility availability |  | $ | 2,399,051 |
Mortgages [Member] |
Debt Instrument [Line Items] |
Summary of Certain Interest Rate and Maturity Date Information | The following table summarizes certain interest rate and maturity date information as of and for the six months ended June 30, 2020:
|  | June 30, 2020 |
Interest Rate Ranges |  | 0.07% - 5.29% |
Weighted Average Interest Rate |  | 3.51% |
Maturity Date Ranges |  | 2020-2061 |
Notes [Member] |
Debt Instrument [Line Items] |
Summary of Certain Interest Rate and Maturity Date Information | The following table summarizes certain interest rate and maturity date information as of and for the six months ended June 30, 2020:
|  | June 30, 2020 |
Interest Rate Ranges |  | 2.50% - 7.57% |
Weighted Average Interest Rate |  | 4.06% |
Maturity Date Ranges |  | 2021-2047 |

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