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Debt Obligations (Tables)
 12 Months Ended
Dec. 31, 2020
Debt Disclosure [Abstract]  
Debt obligations under various arrangements with financial institutions
As of December 31, 2020 and 2019, the Company had the following indebtedness outstanding:
Carrying Value as of
December 31,
2020		December 31,
2019
Stated
Interest
Rate(1)
Scheduled
Maturity
Date
Secured loan
Secured loan
$— $7,000 N/AN/A
Net unamortized premium
— 211 
Net unamortized debt issuance costs
— (37)
Total secured loan, net
$— $7,174 
Notes payable
Unsecured notes(2)(3)
$4,518,453 $4,218,453 
1.26% – 7.97%
2022 – 2030
Net unamortized premium31,390 11,078 
Net unamortized debt issuance costs(25,232)(23,579)
Total notes payable, net
$4,524,611 $4,205,952 
Unsecured Credit Facility and term loans
Unsecured Credit Facility - Revolving Facility
$— $7,000 N/A2023
Unsecured $350 Million Term Loan(3)
350,000 350,000 1.40%2023
Unsecured $300 Million Term Loan(4)
300,000 300,000 1.40%2024
Net unamortized debt issuance costs
(7,281)(8,941)
Total Unsecured Credit Facility and term loans
$642,719 $648,059 
Total debt obligations, net
$5,167,330 $4,861,185 
(1)Stated interest rates as of December 31, 2020 do not include the impact of the Company’s interest rate swap agreements (described below).
(2)The weighted average stated interest rate on the Company’s unsecured notes was 3.75% as of December 31, 2020.
(3)Effective November 1, 2016, the Company has in place three interest rate swap agreements that convert the variable interest rate on $150.0 million of the Company’s $250.0 million Floating Rate Senior Notes due 2022, issued on August 31, 2018 to a fixed, combined interest rate of 1.11% (plus a spread of 105 basis points) and the Company’s $350.0 million term loan agreement, as amended April 29, 2020, (the “$350 Million Term Loan”) to a fixed, combined interest rate of 1.11% (plus a spread of 125 basis points) through July 30, 2021.
(4)Effective January 2, 2019, the Company has in place four interest rate swap agreements that convert the variable interest rate on the Company’s $300.0 million term loan agreement, as amended April 29, 2020 (the “$300 Million Term Loan”) to a fixed, combined interest rate of 2.61% (plus a spread of 125 basis points) through July 26, 2024.
Future expected/scheduled maturities of outstanding debt and capital lease obligations
As of December 31, 2020 and 2019, the Company had accrued interest of $47.2 million and $36.9 million outstanding, respectively. As of December 31, 2020, scheduled maturities of the Company’s outstanding debt obligations were as follows:
Year ending December 31,
2021$— 
2022250,000 
2023850,000 
2024800,000 
2025700,000 
Thereafter2,568,453 
Total debt maturities5,168,453 
Net unamortized premium
31,390 
Net unamortized debt issuance costs
(32,513)
Total debt obligations, net$5,167,330