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Borrowing Arrangements | 3 Months Ended
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Mar. 31, 2018
Debt Disclosure [Abstract] |
Borrowing Arrangements | Borrowing Arrangements Mortgage Notes Payable During the quarter ended March 31, 2018, we closed on one loan, secured by two RV resorts for gross proceeds of approximately $64.0 million. The loan carries an interest rate of 4.83% per annum and matures in 2038. In connection with the Serendipity acquisition during the quarter, we assumed a loan of approximately $9.2 million and obtained additional financing of $8.8 million for a total mortgage debt, secured by the manufactured home community, of $18.0 million with an interest rate of 4.75% that matures in 2039. As of March 31, 2018 and December 31, 2017, we had outstanding mortgage indebtedness of approximately $2,040.5 million and $1,971.7 million, respectively, net of deferred financing costs. The weighted average interest rate on our outstanding mortgage indebtedness, including the impact of premium/discount amortization and loan cost amortization on mortgage indebtedness, for the three months ended March 31, 2018 was approximately 4.7% per annum. The debt bears interest at stated rates ranging from 3.1% to 8.9% per annum and matures on various dates ranging from 2018 to 2041. The debt encumbered a total of 124 and 120 of our Properties as of March 31, 2018 and December 31, 2017, respectively, and the carrying value of such Properties was approximately $2,491.4 million and $2,323.1 million, as of March 31, 2018 and December 31, 2017, respectively. Unsecured Line of Credit During the quarter ended March 31, 2018, we paid off our unsecured line of credit balance of approximately $30.0 million. As of March 31, 2018, we are in compliance in all material respects with the covenants in our borrowing arrangements.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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