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UNSECURED SENIOR NOTES (Tables) | 12 Months Ended
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Dec. 31, 2017
Senior Notes |
Summary of debt |
|  | December 31, |  | December 31, |  | Effective |  | Issuance |  | Maturity |
Unsecured Senior Notes |  | 2017 |  | 2016 |  | Interest Rate |  | Date |  | Date |
|  | (in thousands) |  |  |  |  |  |  |  |
$250M 4.800% Guaranteed Notes due 2022 |  | $ | 250,000 |  | $ | 250,000 |  | 4.82 | % |  | Jun-12 |  | Jul-22 |
$300M 4.375% Guaranteed Notes due 2023 (1) |  |  | 300,000 |  |  | 250,000 |  | 4.33 | % |  | Various (1) |  | Dec-23 |
$300M 4.000% Guaranteed Notes due 2025 (2) |  |  | 300,000 |  |  | 250,000 |  | 3.99 | % |  | Various (2) |  | Nov-25 |
$300M 3.125% Guaranteed Notes due 2026 |  |  | 300,000 |  |  | 300,000 |  | 3.18 | % |  | Aug-16 |  | Sep-26 |
Principal balance outstanding |  |  | 1,150,000 |  |  | 1,050,000 |  |  |  |  |  |  |  |
Less: Discount on issuance of unsecured senior notes, net |  |  | (617) |  |  | (3,971) |  |  |  |  |  |  |  |
Less: Loan procurement costs, net |  |  | (6,923) |  |  | (6,953) |  |  |  |  |  |  |  |
Total unsecured senior notes, net |  | $ | 1,142,460 |  | $ | 1,039,076 |  |  |  |  |  |  |  |
| (1) |  | On April 4, 2017, the Operating Partnership issued $50.0 million of its 4.375% senior notes due 2023, which are part of the same series as the $250.0 million principal amount of the Operating Partnership’s 4.375% senior notes due December 15, 2023 issued on December 17, 2013. The $50.0 million and $250.0 million traunches were priced at 105.040% and 98.995%, respectively, of the principal amount to yield 3.495% and 4.501%, respectively, to maturity. The combined weighted-average effective interest rate of the 2023 notes is 4.330%.
| (2) |  | On April 4, 2017, the Operating Partnership issued $50.0 million of its 4.000% senior notes due 2025, which are part of the same series as the $250.0 million principal amount of the Operating Partnership’s 4.000% senior notes due November 15, 2025 issued on October 26, 2015. The $50.0 million and $250.0 million traunches were priced at 101.343% and 99.735%, respectively, of the principal amount to yield 3.811% and 4.032%, respectively, to maturity. The combined weighted-average effective interest rate of the 2025 notes is 3.994%.

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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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