XML 34 R21.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Indebtedness (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2017
Debt Disclosure [Abstract] |
Summary of Indebtedness | The following table discloses certain information regarding our indebtedness:
| Outstanding Balance at |  | Interest Rate at March 31, 2017 |  | Effective Interest Rate at Issuance |  | Maturity Date
| March 31, 2017 |  | December 31, 2016 |
Mortgage Loans Payable, Gross | $ | 459,539 |  |  | $ | 498,435 |  |  | 4.03% – 8.26% |  | 3.82% – 8.26% |  | June 2018 – September 2022
Unamortized Deferred Financing Costs | (2,481 | ) |  | (2,905 | ) |  |  |  |  |  |
Unamortized Premiums | 384 |  |  | 426 |  |  |  |  |  |  |
Mortgage Loans Payable, Net | $ | 457,442 |  |  | $ | 495,956 |  |  |  |  |  |  |
Senior Unsecured Notes, Gross |  |  |  |  |  |  |  |  |
2017 Notes | 54,981 |  |  | 54,981 |  |  | 7.50% |  | 7.52% |  | 12/1/2017
2027 Notes | 6,070 |  |  | 6,070 |  |  | 7.15% |  | 7.11% |  | 5/15/2027
2028 Notes | 31,901 |  |  | 31,901 |  |  | 7.60% |  | 8.13% |  | 7/15/2028
2032 Notes | 10,600 |  |  | 10,600 |  |  | 7.75% |  | 7.87% |  | 4/15/2032
2017 II Notes | 101,871 |  |  | 101,871 |  |  | 5.95% |  | 6.37% |  | 5/15/2017
Subtotal | $ | 205,423 |  |  | $ | 205,423 |  |  |  |  |  |  |
Unamortized Deferred Financing Costs | (277 | ) |  | (320 | ) |  |  |  |  |  |
Unamortized Discounts | (95 | ) |  | (105 | ) |  |  |  |  |  |
Senior Unsecured Notes, Net | $ | 205,051 |  |  | $ | 204,998 |  |  |  |  |  |  |
Unsecured Term Loans, Gross |  |  |  |  |  |  |  |  |  |
2014 Unsecured Term Loan (A) | $ | 200,000 |  |  | $ | 200,000 |  |  | 3.99% |  | N/A |  | 1/29/2021
2015 Unsecured Term Loan (A) | 260,000 |  |  | 260,000 |  |  | 3.39% |  | N/A |  | 9/12/2022
Subtotal | $ | 460,000 |  |  | $ | 460,000 |  |  |  |  |  |  |
Unamortized Deferred Financing Costs | (3,196 | ) |  | (3,362 | ) |  |  |  |  |  |
Unsecured Term Loans, Net | $ | 456,804 |  |  | $ | 456,638 |  |  |  |  |  |  |
Unsecured Credit Facility (B) | $ | 252,000 |  |  | $ | 189,500 |  |  | 1.99% |  | N/A |  | 3/11/2019
(A) The interest rate at March 31, 2017 reflects the interest rate protection agreements we entered into to effectively convert the variable rate to a fixed rate. See Note 10. (B) The maturity date may be extended an additional year at our election, subject to certain restrictions. Amounts exclude unamortized deferred financing costs of $2,544 and $2,876 as of March 31, 2017 and December 31, 2016, respectively, which are included in prepaid expenses and other assets on the consolidated balance sheets.
Schedule of Maturities | The following is a schedule of the stated maturities and scheduled principal payments of our indebtedness, exclusive of premiums, discounts and deferred financing costs, for the next five years as of March 31, and thereafter:
| Amount
Remainder of 2017 | $ | 164,789 |
2018 | 165,449 |
2019 | 331,329 |
2020 | 58,762 |
2021 | 266,818 |
Thereafter | 389,815 |
Total | $ | 1,376,962 |
Summary of Indebtedness at Estimated Fair Value | At March 31, 2017 and December 31, 2016, the fair value of our indebtedness was as follows:
| March 31, 2017 |  | December 31, 2016
| Carrying Amount (A) |  | Fair Value |  | Carrying Amount (A) |  | Fair Value
Mortgage Loans Payable, Net | $ | 459,923 |  |  | $ | 474,283 |  |  | $ | 498,861 |  |  | $ | 513,540 |
Senior Unsecured Notes, Net | 205,328 |  |  | 221,162 |  |  | 205,318 |  |  | 222,469 |
Unsecured Term Loans | 460,000 |  |  | 458,665 |  |  | 460,000 |  |  | 458,602 |
Unsecured Credit Facility | 252,000 |  |  | 252,000 |  |  | 189,500 |  |  | 189,500 |
Total | $ | 1,377,251 |  |  | $ | 1,406,110 |  |  | $ | 1,353,679 |  |  | $ | 1,384,111 |
(A) The carrying amounts include unamortized premiums and discounts and exclude unamortized deferred financing costs.

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCarryingValuesAndEstimatedFairValuesOfDebtInstrumentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601 + Details
Name: | us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration