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Borrowings (Tables)

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Summary of Outstanding Debt

The following table summarizes the Company's outstanding debt as of June 30, 2019 (dollars in thousands):

		Balance				Weighted Average Effective Rate				Weighted Average Contract Maturity
Unsecured debt
Variable rate revolving credit facility		$	—				—				—
Variable rate commercial paper program			367,000				2.7	%		7/16/2019
Fixed rate senior notes			2,942,000				4.0	%		11/26/2025
Term loans fixed with swaps			300,000				2.3	%		3/1/2022
Variable rate term loans			300,000				3.4	%		8/29/2020
Debt issuance costs, discounts and fair market value adjustments			(29,474	)
Total unsecured debt		$	3,879,526				3.7	%
Fixed rate secured debt
Individual property mortgages		$	663,764				4.5	%		5/17/2036
Debt issuance costs and fair market value adjustments			(3,301	)
Total secured debt		$	660,463				4.5	%
Total outstanding debt		$	4,539,989				3.8	%

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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.

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