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Notes Payable (Tables) | 12 Months Ended
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Dec. 31, 2022
Debt Disclosure [Abstract] |
Schedule of terms of notes payable | The following table summarizes the terms of notes payable outstanding at December 31, 2022 and 2021 ($ in thousands):
Description |  | Interest Rate (1) |  | Maturity (2) |  | 2022 |  | 2021
Unsecured Notes: |  |  |  |  |  |  |  |
Credit Facility |  | 5.30% |  | 2027 |  | $ | 56,600 |  |  | $ | 228,500 |
Term Loan |  | 5.45% |  | 2025 |  | 400,000 |  |  | — |
Term Loan |  | 5.38% |  | 2024 |  | 350,000 |  |  | 350,000 |
Senior Note |  | 3.95% |  | 2029 |  | 275,000 |  |  | 275,000 |
Senior Note |  | 3.91% |  | 2025 |  | 250,000 |  |  | 250,000 |
Senior Note |  | 3.86% |  | 2028 |  | 250,000 |  |  | 250,000 |
Senior Note |  | 3.78% |  | 2027 |  | 125,000 |  |  | 125,000 |
Senior Note |  | 4.09% |  | 2027 |  | 100,000 |  |  | 100,000 |
|  |  |  |  |  | 1,806,600 |  |  | 1,578,500 |
Secured Mortgage Notes: |  |  |  |  |  |  |  |
Fifth Third Center |  | 3.37% |  | 2026 |  | 130,168 |  |  | 133,672 |
Terminus (3) |  | 6.34% |  | 2031 |  | 221,000 |  |  | 184,239 |
Colorado Tower |  | 3.45% |  | 2026 |  | 109,552 |  |  | 112,150 |
Domain 10 |  | 3.75% |  | 2024 |  | 74,521 |  |  | 76,412 |
Promenade Tower (4) |  | 4.27% |  | 2022 |  | — |  |  | 89,052 |
Legacy Union One (4) |  | 4.24% |  | 2023 |  | — |  |  | 66,000 |
|  |  |  |  |  | 535,241 |  |  | 661,525 |
|  |  |  |  |  | $ | 2,341,841 |  |  | $ | 2,240,025 |
Unamortized premium |  |  |  |  |  | — |  |  | 3,910 |
Unamortized loan costs |  |  |  |  |  | (7,235) |  |  | (6,426) |
Total Notes Payable |  |  |  |  |  | $ | 2,334,606 |  |  | $ | 2,237,509 |
(1) Interest rate as of December 31, 2022. (2) Weighted average maturity of notes payable outstanding at December 31, 2022 was 4.0 years. (3) Represents $123.0 million and $98.0 million non-cross-collateralized mortgages secured by the Terminus 100 and Terminus 200, buildings, respectively. (4) These mortgages were paid off, in full, in October 2022.
Schedule of interest recorded | For the years ended December 31, 2022, 2021, and 2020, interest was recorded as follows ($ in thousands):
| 2022 |  | 2021 |  | 2020
Total interest incurred | $ | 87,937 |  |  | $ | 73,284 |  |  | $ | 74,929 |
Interest capitalized | (15,400) |  |  | (6,257) |  |  | (14,324) |
Total interest expense | $ | 72,537 |  |  | $ | 67,027 |  |  | $ | 60,605 |
Schedule of future principal payments due | Future principal payments due (including scheduled amortization payments and payments due upon maturity) on the Company's notes payable at December 31, 2022 are as follows ($ in thousands):
2023 | $ | 8,274 |
2024 | 429,087 |
2025 | 656,755 |
2026 | 220,125 |
2027 | 281,600 |
Thereafter | 746,000 |
| $ | 2,341,841 |

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