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Indebtedness (Tables) | 3 Months Ended
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Mar. 31, 2017
Debt Disclosure [Abstract] |
Disclosure - Summary Information Concerning Indebtedness | The following tables contain summary information concerning our indebtedness as of March 31, 2017:
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) |  | $ | 172,000 |  |  | $ | (2,331 | ) |  | $ | 169,669 |  |  | Floating |  |  | 2.8% |  |  |  | 1.5 |
Mortgages-Fixed rate |  |  | 599,553 |  |  |  | (3,527 | ) |  |  | 596,026 |  |  | Fixed |  |  | 3.8% |  |  |  | 6.5 |
Total Debt |  | $ | 771,553 |  |  | $ | (5,858 | ) |  | $ | 765,695 |  |  |  |  |  | 3.6% |  |  |  | 5.3 |
| (1) | The secured credit facility total capacity is $312,500, of which $172,000 was outstanding as of March 31, 2017.
| (2) | As of March 31, 2017, 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: |  | 2017 |  |  | 2018 |  |  | 2019 |  |  | 2020 |  |  | 2021 |  |  | Thereafter |  |  |
Secured credit facility |  | $ | - |  |  | $ | 172,000 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  |
Mortgages-Fixed rate |  |  | 2,227 |  |  |  | 3,562 |  |  |  | 5,032 |  |  |  | 15,872 |  |  |  | 114,028 |  |  |  | 458,832 |  |  |
Total |  | $ | 2,227 |  |  | $ | 175,562 |  |  | $ | 5,032 |  |  | $ | 15,872 |  |  | $ | 114,028 |  |  | $ | 458,832 |  |  |
As of March 31, 2017, 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, 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) |  | $ | 150,000 |  |  | $ | (2,720 | ) |  | $ | 147,280 |  |  | Floating |  |  | 3.0% |  |  |  | 1.7 |
Mortgages-Fixed rate |  |  | 600,188 |  |  |  | (3,651 | ) |  |  | 596,537 |  |  | Fixed |  |  | 3.8% |  |  |  | 6.7 |
Total Debt |  | $ | 750,188 |  |  | $ | (6,371 | ) |  | $ | 743,817 |  |  |  |  |  | 3.6% |  |  |  | 5.7 |
| (1) | The secured credit facility total capacity was $312,500, of which $150,000 was outstanding as of December 31, 2016.

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