XML 35 R22.htm IDEA: XBRL DOCUMENT v3.20.2
Mortgage and Other Indebtedness (Tables)
6 Months Ended
Jun. 30, 2020
Debt Disclosure [Abstract]  
Schedule of Participating Mortgage Loans
Mortgage and other indebtedness consisted of the following as of June 30, 2020 and December 31, 2019:
 
 
As of June 30, 2020
 
Principal
 
Unamortized Net Premiums
 
Unamortized Debt Issuance Costs
 
Total
Senior unsecured notes—fixed rate
$
550,000

 
$

 
$
(3,838
)
 
$
546,162

Unsecured revolving credit facility
200,000

 

 
(2,165
)
 
197,835

Unsecured term loan
250,000

 

 
(1,753
)
 
248,247

Mortgage notes payable—fixed rate
296,728

 
1,955

 
(33
)
 
298,650

Mortgage note payable—variable rate
55,470

 

 
(109
)
 
55,361

Total mortgage and other indebtedness
$
1,352,198

 
$
1,955

 
$
(7,898
)
 
$
1,346,255

 
 
As of December 31, 2019
 
Principal
 
Unamortized Net Premiums
 
Unamortized Debt Issuance Costs
 
Total
Senior unsecured notes - fixed rate
$
550,000

 
$

 
$
(4,231
)
 
$
545,769

Unsecured revolving credit facility

 

 
(2,625
)
 
(2,625
)
Unsecured term loans
250,000

 

 
(1,859
)
 
248,141

Mortgage notes payable - fixed rate
297,472

 
2,176

 
(40
)
 
299,608

Mortgage notes payable - variable rate
55,830

 

 
(143
)
 
55,687

Total mortgage and other indebtedness
$
1,153,302

 
$
2,176

 
$
(8,898
)
 
$
1,146,580


Schedule of Debt
Consolidated indebtedness, including weighted average maturities and weighted average interest rates as of June 30, 2020, considering the impact of interest rate swaps, is summarized below:
 
 
Outstanding Amount
 
Ratio
 
Weighted Average
Interest Rate
 
Weighted Average
Maturity (in years)
Fixed Rate Debt 1
$
1,096,729

 
81
%
 
4.17
%
 
5.5
Variable Rate Debt
255,470

 
19
%
 
1.41
%
 
2.2
Net Debt Premiums and Issuance Costs, Net
(5,944
)
 
N/A

 
N/A

 
N/A
Total
$
1,346,255

 
100
%
 
3.65
%
 
4.8
 
____________________
1
Fixed rate debt includes, and variable rate date excludes, the portion of such debt that has been hedged by interest rate derivatives. As of June 30, 2020, $250 million in variable rate debt is hedged for a weighted average of 2.7 years.

Deferred Cost Amortization
The accompanying consolidated statements of operations include amortization of debt issuance costs as a component of interest expense as follows:
  
 
 
Six Months Ended June 30,
 
 
2020
 
2019
Amortization of debt issuance costs
 
$
1,172

 
$
1,514


The amounts of such amortization included in the accompanying consolidated statements of operations are as follows:
 
Six Months Ended
June 30,
 
2020
 
2019
Amortization of deferred leasing costs, lease intangibles and other
$
7,131

 
$
7,258

Amortization of above market lease intangibles
483

 
701