XML 59 R39.htm IDEA: XBRL DOCUMENT v3.10.0.1

Notes Payable and Unsecured Credit Facilities (Tables)

12 Months Ended

Dec. 31, 2018

Debt Instrument [Line Items]

Schedule of Debt [Table Text Block]

The Company’s outstanding debt consists of the following:

	Maturing Through	Weighted Average Contractual Rate	Weighted Average Effective Rate		December 31,
(in thousands)					2018				2017
Notes payable:
Fixed rate mortgage loans	10/1/2036	4.8%	4.3%		$	403,306			520,193
Variable rate mortgage loans (1)	6/2/2027	3.5%	3.7%		127,850				125,866
Fixed rate unsecured public and private debt	2/1/2047	4.0%	4.4%		2,475,322				2,325,656
Total notes payable					$	3,006,478			2,971,715
Unsecured credit facilities:
Line of Credit (2)	3/23/2022	3.4%	3.5%		145,000				60,000
Term Loans	1/5/2022	2.4%	2.5%		563,734				563,262
Total unsecured credit facilities					$	708,734			623,262
Total debt outstanding					$	3,715,212			3,594,977
(1) Includes five mortgages, whose interest varies on LIBOR based formulas. Three of these variable rate loans have interest rate swaps in place to fix the interest rates at a range of 2.8% to 4.1%.
(2) Maturity is subject to two six month extensions as the Company's option. The weighted average contractual and effective interest rates for the Line are calculated based on a fully drawn Line balance.

Schedule of Maturities of Long-term Debt [Table Text Block]

Scheduled principal payments and maturities on notes payable and unsecured credit facilities were as follows:

(in thousands)	December 31, 2018
Scheduled Principal Payments and Maturities by Year:	Scheduled Principal Payments				Mortgage Loan Maturities			Unsecured Maturities (1)			Total
2019	$	9,518			13,216			—			22,734
2020	11,287				78,580			300,000			389,867
2021	11,599				77,060			250,000			338,659
2022	11,798				5,848			710,000			727,646
2023	10,043				59,375			—			69,418
Beyond 5 Years	27,013				209,845			1,950,000			2,186,858
Unamortized debt premium/(discount) and issuance costs	—				5,974			(25,944	)		(19,970	)
Total notes payable	$	81,258			449,898			3,184,056			3,715,212
(1) Includes unsecured public and private debt and unsecured credit facilities.

The Company has $13.2 million of debt maturing over the next twelve months, which is in the form of a non-recourse mortgage loan.

X

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

No definition available.

+ Details

Name:	us-gaap_DebtInstrumentLineItems
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration