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Borrowings (Tables) | 12 Months Ended
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Dec. 31, 2018
Borrowings [Abstract] |
Indebtedness | The following table summarizes the Company's outstanding debt as of December 31, 2018 and 2017 (dollars in thousands):
| Borrowed Balance |  | As of December 31, 2018
| December 31, 2018 |  | December 31, 2017 |  | Weighted Average Effective Rate |  | Weighted Average Contract Maturity
Unsecured debt |  |  |  |  |  |  |  |  |
Variable rate revolving credit facility | $ | 540,000 |  |  | $ | 410,000 |  |  | 3.4 | % |  | 4/15/2020
Fixed rate senior notes | 2,642,000 |  |  | 2,292,000 |  |  | 4.0 | % |  | 7/12/2025
Term loans fixed with swaps | 300,000 |  |  | 550,000 |  |  | 2.3 | % |  | 3/1/2022
Variable rate term loans | 600,000 |  |  | 300,000 |  |  | 3.3 | % |  | 1/22/2020
Fair market value adjustments, debt issuance costs and discounts | (28,698 | ) |  | (26,235 | ) |  |  |  |
Total unsecured debt | $ | 4,053,302 |  |  | $ | 3,525,765 |  |  | 3.7 | % |  |
Fixed rate secured debt |  |  |  |  |  |  |
Individual property mortgages | $ | 476,161 |  |  | $ | 882,752 |  |  | 4.6 | % |  | 2/23/2031
Variable rate secured debt (1) |  |  |  |  |  |  |
Credit facility | $ | — |  |  | $ | 80,000 |  |  |  |  |
Fair market value adjustments and debt issuance costs | (1,135 | ) |  | 13,540 |  |  |  |  |
Total secured debt | $ | 475,026 |  |  | $ | 976,292 |  |  | 4.6 | % |  |
Total outstanding debt | $ | 4,528,328 |  |  | $ | 4,502,057 |  |  | 3.8 | % |  |
(1) Includes capped balances.
Scheduled Principal Repayments on Borrowings | The following table includes scheduled principal repayments on the Company's outstanding borrowings as of December 31, 2018, as well as the amortization of the fair market value of debt assumed, debt discounts and issuance costs (in thousands):
Year |  | Maturities |  | Amortization |  | Total
2019 |  | $ | 333,115 |  |  | $ | 2,583 |  |  | $ | 335,698 |
2020 |  | 842,456 |  |  | 1,291 |  |  | 843,747 |
2021 |  | 340,618 |  |  | (2,138 | ) |  | 338,480 |
2022 |  | 667,000 |  |  | (2,713 | ) |  | 664,287 |
2023 |  | 362,250 |  |  | (2,023 | ) |  | 360,227 |
Thereafter |  | 1,992,018 |  |  | (6,129 | ) |  | 1,985,889 |
|  | $ | 4,537,457 |  |  | $ | (9,129 | ) |  | $ | 4,528,328 |

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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- Definition Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601 + Details
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