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Debt Obligations (Tables)
 3 Months Ended
Mar. 31, 2016
Debt Disclosure [Abstract]  
Debt obligations under various arrangements with financial institutions
As of March 31, 2016 and December 31, 2015, the Company had the following indebtedness outstanding:
 
 
Carrying Value as of
 
 
 
 
 
 
March 31,
2016
 
December 31, 2015
 
Stated
Interest
Rates
 
Scheduled
Maturity
Date
Mortgage and secured loans(1)
 
 
 
 
 
 
 
 
Fixed rate mortgage and secured loans(2)
 
$
2,222,023

 
$
2,226,763

 
4.40% - 8.00%
 
2016 – 2024
Net unamortized premium
 
36,284

 
40,508

 
 
 
 
Net unamortized debt issuance cost
 
(1,380
)
 
(1,752
)
 
 
 
 
Total mortgage and secured loans, net
 
$
2,256,927

 
$
2,265,519

 
 
 
 
 
 
 
 
 
 
 
 
 
Notes payables
 
 
 
 
 
 
 
 
Unsecured notes(3)
 
$
1,218,453

 
$
1,218,453

 
3.85% - 7.97%
 
2022 - 2029
Net unamortized discount
 
(4,517
)
 
(4,676
)
 
 
 
 
Net unamortized debt issuance cost
 
(9,609
)
 
(9,923
)
 
 
 
 
Total notes payable, net
 
$
1,204,327

 
$
1,203,854

 
 
 
 
 
 
 
 
 
 
 
 
 
Unsecured Credit Facility and Term Loan
 

 
 
 
 
 
 
Unsecured Credit Facility(4)
 
$
1,956,000

 
$
1,916,000

 
1.90%
 
2017 – 2018
Unsecured Term Loan
 
600,000

 
600,000

 
1.90%
 
2019
Net unamortized debt issuance cost
 
(9,857
)
 
(11,107
)
 
 
 
 
Total Unsecured Credit Facility and Term Loan
 
$
2,546,143

 
$
2,504,893

 
 
 
 
 
 
 
 
 
 
 
 
 
Total debt obligations, net
 
$
6,007,397

 
$
5,974,266

 
 
 
 
(1) 
The Company’s mortgages and secured loans are collateralized by certain properties and the equity interests of certain subsidiaries. These properties had a carrying value as of March 31, 2016 of approximately $3.3 billion.
(2) 
The weighted average interest rate on the Company’s fixed rate mortgage and secured loans was 5.86% as of March 31, 2016.
(3) 
The weighted average interest rate on the Company’s unsecured notes was 3.91% as of March 31, 2016.
(4) 
The Unsecured Credit Facility (as defined below) consists of a $1.25 billion revolving credit facility and a $1.5 billion term loan facility. The Company has in place five forward starting interest rate swap agreements that convert the floating interest rate on the $1.5 billion term loan facility to a fixed, combined interest rate of 0.844% plus an interest spread of 140 basis points.

Future expected/scheduled maturities of outstanding debt and capital lease obligations
As of March 31, 2016 and December 31, 2015, the Company had accrued interest of $22.5 million and $31.1 million outstanding, respectively. As of March 31, 2016, scheduled maturities of the Company’s outstanding debt obligations were as follows:
Year ending December 31,
 
 
2016 (remaining nine months)
 
$
872,960

2017
 
805,659

2018
 
1,519,476

2019
 
620,126

2020
 
766,577

Thereafter
 
1,411,678

Total debt maturities
 
5,996,476

Net unamortized premiums on mortgages
 
36,284

Net unamortized discount on notes
 
(4,517
)
Net unamortized debt issuance costs
 
(20,846
)
Total debt obligations
 
$
6,007,397