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Indebtedness (Tables) | 6 Months Ended
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Jun. 30, 2016
Debt Disclosure [Abstract] |
Summary of Information Concerning Indebtedness that Encumbered our Properties | The following tables contain summary information concerning our indebtedness as of June 30, 2016:
Debt: |  | Outstanding Principal |  |  | Unamortized Discount and Debt Issuance Costs |  |  | Carrying Amount |  |  | Type |  | Weighted Average Rate |  |  | Weighted Average Maturity (in years) |
Secured credit facility (1)(2) |  | $ | 247,335 |  |  | $ | (3,731 | ) |  | $ | 243,604 |  |  | Floating |  |  | 2.9% |  |  |  | 2.2 |
Term loan (2) |  |  | 40,000 |  |  | $ | (441 | ) |  |  | 39,559 |  |  | Floating |  |  | 4.5% |  |  |  | 2.2 |
Mortgages-Fixed rate |  |  | 601,047 |  |  |  | (3,922 | ) |  |  | 597,125 |  |  | Fixed |  |  | 3.8% |  |  |  | 7.2 |
Total Debt |  | $ | 888,382 |  |  | $ | (8,094 | ) |  | $ | 880,288 |  |  |  |  |  | 3.6% |  |  |  | 5.6 |
| (1) | The secured credit facility total capacity is $325,000, of which $247,335 was outstanding as of June 30, 2016.
| (2) | As of June 30, 2016, IRT maintained a float-to-fixed interest rate swap with a $ 150,000 notional amount. This swap, which expires on June 17, 2021 and has a fixed rate of 1.145%, has converted $ 150,000 of our floating rate debt to fixed rate debt.
|  | Original maturities on or before December 31, |
Debt: |  | 2016 |  |  | 2017 |  |  | 2018 |  |  | 2019 |  |  | 2020 |  |  | Thereafter |
Secured credit facility |  | $ | - |  |  | $ | - |  |  | $ | 247,335 |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Term loan |  |  | - |  |  |  | 600 |  |  |  | 39,400 |  |  |  | - |  |  |  | - |  |  |  | - |
Mortgages-Fixed rate |  |  | 772 |  |  |  | 2,845 |  |  |  | 3,568 |  |  |  | 4,723 |  |  |  | 15,877 |  |  |  | 573,262 |
Total |  | $ | 772 |  |  | $ | 3,445 |  |  | $ | 290,303 |  |  | $ | 4,723 |  |  | $ | 15,877 |  |  | $ | 573,262 |
As of June 30, 2016 we were in compliance with all financial covenants contained in our indebtedness. The following table contains summary information concerning our indebtedness as of December 31, 2015:
Debt: |  | Outstanding Principal |  |  | Unamortized Discount and Debt Issuance Costs |  |  | Carrying Amount |  |  | Type |  | Rate |  |  | Weighted Average Maturity (in years) |
Secured credit facility (1) |  | $ | 271,500 |  |  | $ | (4,345 | ) |  | $ | 267,155 |  |  | Floating |  |  | 2.9% |  |  |  | 2.7 |
Bridge term loan |  |  | 120,000 |  |  | $ | (1,582 | ) |  |  | 118,418 |  |  | Floating |  |  | 5.4% |  |  |  | 0.7 |
Mortgages-Fixed rate |  |  | 545,956 |  |  |  | (2,993 | ) |  |  | 542,963 |  |  | Fixed |  |  | 3.8% |  |  |  | 6.9 |
Mortgages-Floating rate |  |  | 38,075 |  |  |  | - |  |  |  | 38,075 |  |  | Floating |  |  | 2.8% |  |  |  | 5.4 |
Total Debt |  | $ | 975,531 |  |  | $ | (8,920 | ) |  | $ | 966,611 |  |  |  |  |  | 3.7% |  |  |  | 4.9 |
| (1) | The secured credit facility total capacity was $325,000, of which $271,500 was outstanding as of December 31, 2015.

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