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Debt Obligations (Tables)
 6 Months Ended
Jun. 30, 2021
Debt Disclosure [Abstract]  
Debt obligations under various arrangements with financial institutions
As of June 30, 2021 and December 31, 2020, the Company had the following indebtedness outstanding:
Carrying Value as of
June 30,
2021		December 31,
2020
Stated
Interest
Rate(1)
Scheduled
Maturity
Date
Notes payable
Unsecured notes(2)(3)
$4,868,453 $4,518,453 
1.23% – 7.97%
2022 – 2030
Net unamortized premium29,315 31,390 
Net unamortized debt issuance costs(25,889)(25,232)
Total notes payable, net
$4,871,879 $4,524,611 
Unsecured Credit Facility and term loans
Unsecured Credit Facility - Revolving Facility
$— $— N/A2023
Unsecured $350 Million Term Loan
— 350,000 N/AN/A
Unsecured $300 Million Term Loan(4)
300,000 300,000 1.34%2024
Net unamortized debt issuance costs
(4,841)(7,281)
Total Unsecured Credit Facility and term loans
$295,159 $642,719 
Total debt obligations, net
$5,167,038 $5,167,330 
(1)Stated interest rates as of June 30, 2021 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 3.64% as of June 30, 2021.
(3)Effective November 1, 2016, the Company has in place one interest rate swap agreement that converts the variable interest rate on 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) 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 June 30, 2021 and December 31, 2020, the Company had accrued interest of $48.0 million and $47.2 million outstanding, respectively. As of June 30, 2021, scheduled maturities of the Company’s outstanding debt obligations were as follows:
Year ending December 31,
2021 (remaining six months)$— 
2022250,000 
2023500,000 
2024800,000 
2025700,000 
Thereafter2,918,453 
Total debt maturities5,168,453 
Net unamortized premium
29,315 
Net unamortized debt issuance costs
(30,730)
Total debt obligations, net$5,167,038