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Borrowings (Tables) | 6 Months Ended
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Jun. 30, 2020
Debt Disclosure [Abstract] |
Summary of Outstanding Debt | The following table summarizes the Company’s outstanding debt as of June 30, 2020 (dollars in thousands):
|  | Balance |  |  | Weighted Average Effective Rate |  |  | Weighted Average Contract Maturity |
Unsecured debt |  |  |  |  |  |  |  |  |  |  |  |
Variable rate revolving credit facility |  | $ | — |  |  |  | — |  |  |  | — |
Variable rate commercial paper program |  |  | 90,000 |  |  |  | 0.4 | % |  | 7/7/2020 |
Fixed rate senior notes |  |  | 3,472,000 |  |  |  | 3.9 | % |  | 7/19/2026 |
Variable rate term loan |  |  | 300,000 |  |  |  | 1.1 | % |  | 3/1/2022 |
Debt issuance costs, discounts, premiums and fair market value adjustments |  |  | (12,216 | ) |  |  |  |  |  |  |  |
Total unsecured debt |  | $ | 3,849,784 |  |  |  | 3.6 | % |  |  |  |
Secured debt |  |  |  |  |  |  |  |  |  |  |  |
Fixed rate property mortgages |  | $ | 626,334 |  |  |  | 4.5 | % |  | 5/3/2037 |
Debt issuance costs and fair market value adjustments |  |  | (3,510 | ) |  |  |  |  |  |  |  |
Total secured debt |  | $ | 622,824 |  |  |  | 4.5 | % |  |  |  |
Total outstanding debt |  | $ | 4,472,608 |  |  |  | 3.7 | % |  |  |  |

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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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