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Debt (Tables) | 3 Months Ended
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Mar. 31, 2021
Debt Disclosure [Abstract] |
Summary of Senior Notes Issuances | The following table summarizes the Company’s senior unsecured notes repurchases and redemptions during the three months ended March 31, 2021 (dollars in thousands):
Payoff Date(1) |  | Amount |  | Coupon Rate |  | Maturity Year
January 28, 2021 |  | $ | 112,000 |  |  | 4.25 | % |  | 2023
January 28, 2021 |  | $ | 201,000 |  |  | 4.20 | % |  | 2024
January 28, 2021 |  | $ | 469,000 |  |  | 3.88 | % |  | 2024
February 26, 2021 |  | $ | 188,000 |  |  | 4.25 | % |  | 2023
February 26, 2021 |  | $ | 149,000 |  |  | 4.20 | % |  | 2024
February 26, 2021 |  | $ | 331,000 |  |  | 3.88 | % |  | 2024
_______________________________________ (1)Upon completing the repurchases and redemptions of all outstanding 4.25%, 4.20%, and 3.88% senior unsecured notes due in 2023 and 2024, the Company recognized a $164 million loss on debt extinguishment. The following table summarizes the Company’s senior unsecured notes issuances during the year ended December 31, 2020 (dollars in thousands):
Issue Date |  | Amount |  | Coupon Rate |  | Maturity Year
Year ended December 31, 2020: |  |  |  |  |  |
June 23, 2020 |  | $ | 600,000 |  |  | 2.88 | % |  | 2031
The following table summarizes the Company’s senior unsecured notes repurchases and redemptions during the year ended December 31, 2020 (dollars in thousands):
Payoff Date |  | Amount |  | Coupon Rate |  | Maturity Year
Year ended December 31, 2020: |  |  |  |  |  |
July 9, 2020(1) |  | $ | 300,000 |  |  | 3.15 | % |  | 2022
June 24, 2020(2) |  | $ | 250,000 |  |  | 4.25 | % |  | 2023
_______________________________________ (1)Upon completing the redemption of all outstanding 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.
Summary of Debt Maturities and Schedule Principal Repayments | The following table summarizes the Company’s stated debt maturities and scheduled principal repayments at March 31, 2021 (in thousands):
|  |  |  |  |  |  |  | Senior Unsecured Notes(2) |  | Mortgage Debt(3) |  |
Year |  | Bank Line of Credit |  | Commercial Paper(1) |  | Term Loan |  | Amount |  | Interest Rate |  | Amount |  | Interest Rate |  | Total
2021 (nine months) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | — | % |  | $ | 11,572 |  |  | 4.86 | % |  | $ | 11,572 |
2022 |  | — |  |  | — |  |  | — |  |  | — |  |  | — | % |  | 4,843 |  |  | 3.80 | % |  | 4,843 |
2023 |  | 110,000 |  |  | 928,150 |  |  | — |  |  | — |  |  | — | % |  | 89,874 |  |  | 3.80 | % |  | 1,128,024 |
2024 |  | — |  |  | — |  |  | 250,000 |  |  | — |  |  | — | % |  | 3,050 |  |  | 3.80 | % |  | 253,050 |
2025 |  | — |  |  | — |  |  | — |  |  | 1,350,000 |  |  | 3.93 | % |  | 3,209 |  |  | 3.80 | % |  | 1,353,209 |
Thereafter |  | — |  |  | — |  |  | — |  |  | 2,950,000 |  |  | 3.68 | % |  | 102,789 |  |  | 3.54 | % |  | 3,052,789 |
|  | 110,000 |  |  | 928,150 |  |  | 250,000 |  |  | 4,300,000 |  |  |  |  | 215,337 |  |  |  |  | 5,803,487 |
(Discounts), premium and debt costs, net |  | — |  |  | — |  |  | (757) |  |  | (44,303) |  |  |  |  | 4,622 |  |  |  |  | (40,438) |
|  | 110,000 |  |  | 928,150 |  |  | 249,243 |  |  | 4,255,697 |  |  |  |  | 219,959 |  |  |  |  | 5,763,049 |
Debt on assets held for sale and discontinued operations(4) |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | 278,172 |  |  |  |  | 278,172 |
|  | $ | 110,000 |  |  | $ | 928,150 |  |  | $ | 249,243 |  |  | $ | 4,255,697 |  |  |  |  | $ | 498,131 |  |  |  |  | $ | 6,041,221 |
_______________________________________ (1)Commercial Paper Program borrowings are backstopped by the Revolving Facility. As such, we calculate the weighted average remaining term of our Commercial Paper Program borrowings using the maturity date of our Revolving Facility. (2)Effective interest rates on the senior notes range from 3.10% to 6.91% with a weighted average effective interest rate of 3.77% and a weighted average maturity of 8 years. (3)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 4 years. (4)Represents mortgage debt on assets held for sale and discontinued operations with interest rates ranging from 3.45% to 5.88% that mature between 2025 and 2044.

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