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Mortgage and Other Indebtedness (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Schedule of Participating Mortgage Loans

Mortgage and other indebtedness consisted of the following as of December 31, 2020 and 2019: 

 

($ in thousands)						As of December 31, 2020
						Principal						Unamortized Net Premiums						Unamortized Debt Issuance Costs						Total
Senior unsecured notes—fixed rate
Maturing at various dates from September 2023 through September 2027; interest rates ranging from 4.00% to 4.57% at December 31, 2020						$	550,000					$	—					$	(3,595)					$	546,405
Unsecured revolving credit facility
Matures April 20221; borrowing level up to $523.2 million available at December 31, 2020; interest at LIBOR + 1.15% or 1.29% at December 31, 2020						25,000						—						(1,672)						23,328
Unsecured term loan
Matures October 2025; interest at LIBOR + 2.00% or 2.14% at December 31, 2020						250,000						—						(1,647)						248,353
Mortgage notes payable—fixed rate
Generally due in monthly installments of principal and interest; maturing at various dates from April 2022 through June 2030; interest rates ranging from 3.78% to 5.73% at December 31, 2020						295,966						1,732						(25)						297,673
Mortgage note payable—variable rate
Due in monthly installments of principal and interest; maturing in February 2022; interest at LIBOR + 1.60% or 1.74% at December 31, 2020						55,110						—						(75)						55,035
Total mortgage and other indebtedness						$	1,176,076					$	1,732					$	(7,014)					$	1,170,794

($ in thousands)						As of December 31, 2019
						Principal						Unamortized Net Premiums						Unamortized Debt Issuance Costs						Total
Senior Unsecured Notes—Fixed Rate
Maturing at various dates from September 2023 through September 2027; interest rates ranging from 4.00% to 4.57% at December 31, 2019						$	550,000					$	—					$	(4,231)					$	545,769
Unsecured Revolving Credit Facility
Matures April 20221; borrowing level up to $583.4 million available at December 31, 2019; interest at LIBOR +1.15%2 or 2.91% at December 31, 2019						—						—						(2,625)						(2,625)
Unsecured Term Loans
Matures October 2025; interest at LIBOR + 2.00% or 3.76% at December 31, 2019						250,000						—						(1,859)						248,141
Mortgage Notes Payable—Fixed Rate
Generally due in monthly installments of principal and interest; maturing at various dates from April 2022 through June 2030; interest rates ranging from 3.78% to 5.73% at December 31, 2019						297,472						2,176						(40)						299,608
Mortgage Notes Payable—Variable Rate
Due in monthly installments of principal and interest; maturing in February 2022; interest at LIBOR + 1.60%, or 3.36% at December 31, 2019						55,830						—						(143)						55,687
Total mortgage and other indebtedness						$	1,153,302					$	2,176					$	(8,898)					$	1,146,580

____________________
1			The Company can extend the maturity date for two additional periods of six months each, subject to certain conditions.
2			The interest rates on our unsecured revolving credit facility and unsecured term loan varied at certain parts of the year due to provisions in the agreement and the amendment and restatement of the agreement.

Deferred Cost Amortization

The amounts of such amortization included in the accompanying consolidated statements of operations are as follows:

($ in thousands)						For the year ended December 31,
						2020						2019						2018
Amortization of deferred leasing costs, lease intangibles and other						$	13,916					$	14,239					$	18,648
Amortization of above market lease intangibles						999						1,200						2,553

The accompanying consolidated statements of operations include the following amounts of amortization of debt issuance costs as a component of interest expense:

($ in thousands)						For the year ended December 31,
						2020						2019						2018
Amortization of debt issuance costs						$	2,135					$	2,762					$	3,944

Schedule of Maturities of Long-term Debt

The following table presents maturities of mortgage debt and corporate debt as of December 31, 2020: 

($ in thousands)						Scheduled Principal Payments						Term Maturities						Total
2021						$	2,303					$	—					$	2,303
2022						1,043						203,877						204,920
2023						806						256,517						257,323
2024						854						—						854
2025						904						330,000						330,904
Thereafter						4,672						375,100						379,772
						$	10,582					$	1,165,494					$	1,176,076
Unamortized net debt premiums and issuance costs, net																		(5,282)
Total																		$	1,170,794

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section 50
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-Name Accounting Standards Codification
-Topic 470
-SubTopic 30
-Section 50
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