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v3.22.2.2

Notes Payable and Unsecured Credit Facilities (Tables) | 9 Months Ended
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Sep. 30, 2022
Debt Disclosure [Abstract] |
Schedule of Debt Net of Unamortized Debt Premium (Discount) and Debt Issuance Costs | The Company's outstanding debt, net of unamortized debt premium (discount) and debt issuance costs, consisted of the following as of the dates set forth below:
(in thousands) |  | Weighted Average Contractual Rate |  | Weighted Average Effective Rate |  | September 30, 2022 |  |  | December 31, 2021 |
Notes payable: |  |  |  |  |  |  |  |  |  |
Fixed rate mortgage loans |  | 3.9% |  | 3.5% |  | $ | 344,843 |  |  |  | 359,414 |
Variable rate mortgage loans (1) |  | 3.3% |  | 3.6% |  |  | 137,284 |  |  |  | 115,539 |
Fixed rate unsecured debt |  | 3.8% |  | 4.0% |  |  | 3,247,277 |  |  |  | 3,243,991 |
Total notes payable |  |  |  |  |  |  | 3,729,404 |  |  |  | 3,718,944 |
Unsecured credit facilities: |  |  |  |  |  |  |  |  |  |
$1.25 Billion Line of Credit (the "Line") (2) |  | 3.4% |  | 3.8% |  |  | — |  |  |  | — |
Total debt outstanding |  |  |  |  |  | $ | 3,729,404 |  |  |  | 3,718,944 |
(1) Five of these six variable rate loans, representing $132.4 million of debt in the aggregate, have interest rate swaps in place to mitigate interest rate fluctuation risk. Based on these swap agreements, the effective fixed rates of the five loans range from 2.5% to 4.1%. (2) Weighted average effective rate for the Line is calculated based on a fully drawn balance using the period end variable rate.
Schedule of maturities of long-term debt | Scheduled principal payments and maturities on notes payable and unsecured credit facilities were as follows:
(in thousands) |  | September 30, 2022 |
Scheduled Principal Payments and Maturities by Year: |  | Scheduled Principal Payments |  |  | Mortgage Loan Maturities |  |  | Unsecured Maturities (1) |  |  | Total |
2022 (2) |  | $ | 2,738 |  |  |  | — |  |  |  | — |  |  |  | 2,738 |
2023 |  |  | 9,695 |  |  |  | 59,376 |  |  |  | — |  |  |  | 69,071 |
2024 |  |  | 4,849 |  |  |  | 90,742 |  |  |  | 250,000 |  |  |  | 345,591 |
2025 |  |  | 3,732 |  |  |  | 45,000 |  |  |  | 250,000 |  |  |  | 298,732 |
2026 |  |  | 3,922 |  |  |  | 112,365 |  |  |  | 200,000 |  |  |  | 316,287 |
Beyond 5 Years |  |  | 6,661 |  |  |  | 138,234 |  |  |  | 2,575,000 |  |  |  | 2,719,895 |
Unamortized debt premium/(discount) and issuance costs |  |  | — |  |  |  | 4,813 |  |  |  | (27,723 | ) |  |  | (22,910 | )
Total |  | $ | 31,597 |  |  |  | 450,530 |  |  |  | 3,247,277 |  |  |  | 3,729,404 |
(1) Includes unsecured public and private debt and unsecured credit facilities. (2) Reflects scheduled principal payments for the remainder of the year.

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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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