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Debt (Tables) | 12 Months Ended
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Dec. 31, 2020
Debt Disclosure [Abstract] |
Schedule of Senior Unsecured Notes | The following table summarizes the Company’s senior unsecured notes issuances for the periods presented (dollars in thousands):
Issue Date |  | Amount |  | Coupon Rate |  | Maturity Date
Year ended December 31, 2020: |  |  |  |  |  |
June 23, 2020 |  | $ | 600,000 |  |  | 2.88 | % |  | 2031
Year ended December 31, 2019: |  |  |  |  |  |
November 21, 2019 |  | $ | 750,000 |  |  | 3.00 | % |  | 2030
July 5, 2019 |  | $ | 650,000 |  |  | 3.25 | % |  | 2026
July 5, 2019 |  | $ | 650,000 |  |  | 3.50 | % |  | 2029
There were no senior unsecured notes issuances for the year ended December 31, 2018.
Summary of Senior Unsecured Notes Payoffs | The following table summarizes the Company’s senior unsecured notes payoffs and repurchases for the periods presented (dollars in thousands):
Payoff Date |  | Amount |  | Coupon Rate |  | Maturity Date
Year ended December 31, 2020: |  |  |  |  |  |
July 9, 2020(1) |  | $ | 300,000 |  |  | 3.15 | % |  | 2022
June 24, 2020(2) |  | $ | 250,000 |  |  | 4.25 | % |  | 2023
Year ended December 31, 2019: |  |  |  |  |  |
November 21, 2019(3) |  | $ | 350,000 |  |  | 4.00 | % |  | 2022
July 22, 2019(4) |  | $ | 800,000 |  |  | 2.63 | % |  | 2020
July 8, 2019(4) |  | $ | 250,000 |  |  | 4.00 | % |  | 2022
July 8, 2019(4) |  | $ | 250,000 |  |  | 4.25 | % |  | 2023
Year ended December 31, 2018: |  |  |  |  |  |
November 8, 2018 |  | $ | 450,000 |  |  | 3.75 | % |  | 2019
July 16, 2018(5) |  | $ | 700,000 |  |  | 5.38 | % |  | 2021
_______________________________________ (1)Upon completing the redemption of the 3.15% senior unsecured notes due in 2022, the Company recognized an $18 million loss on debt extinguishment. (2)Upon repurchasing a portion of the 4.25% senior unsecured notes due in 2023, the Company recognized a $26 million loss on debt extinguishment. (3)Upon repurchasing the 4.00% senior unsecured notes due in 2022, the Company recognized a $22 million loss on debt extinguishment. (4)Upon completing the redemption of the 2.63% senior unsecured notes due in 2020 and repurchasing a portion of the 4.25% senior unsecured notes due in 2023 and the 4.00% senior unsecured notes due in 2022, the Company recognized a $35 million loss on debt extinguishment. (5)Upon repurchasing the 5.38% senior unsecured notes due in 2021, the Company recognized a $44 million loss on debt extinguishment.
Summary of Stated Debt Maturities and Scheduled Principal Repayments | The following table summarizes the Company’s stated debt maturities and scheduled principal repayments at December 31, 2020 (in thousands):
|  |  |  |  |  |  |  | Senior Unsecured Notes(1) |  | Mortgage Debt(2) |  |
Year |  | Bank Line of Credit |  | Commercial Paper |  | Term Loan |  | Amount |  | Interest Rate |  | Amount |  | Interest Rate |  | Total
2021 |  | $ | — |  |  | $ | 129,590 |  |  | $ | — |  |  | $ | — |  |  | — | % |  | $ | 13,015 |  |  | 5.26 | % |  | $ | 142,605 |
2022 |  | — |  |  | — |  |  | — |  |  | — |  |  | — | % |  | 4,843 |  |  | — | % |  | 4,843 |
2023 |  | — |  |  | — |  |  | — |  |  | 300,000 |  |  | 4.37 | % |  | 89,874 |  |  | 3.80 | % |  | 389,874 |
2024 |  | — |  |  | — |  |  | 250,000 |  |  | 1,150,000 |  |  | 4.17 | % |  | 3,050 |  |  | — | % |  | 1,403,050 |
2025 |  | — |  |  | — |  |  | — |  |  | 1,350,000 |  |  | 3.93 | % |  | 3,209 |  |  | — | % |  | 1,353,209 |
Thereafter |  | — |  |  | — |  |  | — |  |  | 2,950,000 |  |  | 3.67 | % |  | 102,789 |  |  | 3.57 | % |  | 3,052,789 |
|  | — |  |  | 129,590 |  |  | 250,000 |  |  | 5,750,000 |  |  |  |  | 216,780 |  |  |  |  | 6,346,370 |
(Discounts), premium and debt costs, net |  | — |  |  | — |  |  | (818) |  |  | (52,414) |  |  |  |  | 4,841 |  |  |  |  | (48,391) |
|  | — |  |  | 129,590 |  |  | 249,182 |  |  | 5,697,586 |  |  |  |  | 221,621 |  |  |  |  | 6,297,979 |
Debt on assets held for sale and discontinued operations(3) |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | 318,876 |  |  |  |  | 318,876 |
|  | $ | — |  |  | $ | 129,590 |  |  | $ | 249,182 |  |  | $ | 5,697,586 |  |  |  |  | $ | 540,497 |  |  |  |  | $ | 6,616,855 |
_______________________________________ (1)Effective interest rates on the senior notes range from 3.08% to 6.87% with a weighted average effective interest rate of 3.86% and a weighted average maturity of 7 years. (2)Excluding mortgage debt on assets classified as held for sale and discontinued operations, effective interest rates on the mortgage debt range from 3.42% to 5.91% with a weighted average effective interest rate of 3.73% and a weighted average maturity of 5 years. (3)Represents mortgage debt on assets held for sale and discontinued operations with interest rates of 1.34% to 5.13% that mature between 2025 and 2044.

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