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Indebtedness (Tables) | 9 Months Ended
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Sep. 30, 2017
Debt Disclosure [Abstract] |
Summary Information Concerning Indebtedness | The following tables contain summary information concerning our indebtedness as of September 30, 2017:
Debt: |  | Outstanding Principal |  |  | Unamortized Discount and Debt Issuance Costs |  |  | Carrying Amount |  |  | Type |  | Weighted Average Rate |  |  | Weighted Average Maturity (in years) |
Unsecured credit facility (1)(2) |  | $ | 159,690 |  |  | $ | (2,527 | ) |  | $ | 157,163 |  |  | Floating |  |  | 2.7% |  |  |  | 3.9 |
Mortgages-Fixed rate |  |  | 577,632 |  |  |  | (3,170 | ) |  |  | 574,462 |  |  | Fixed |  |  | 3.7% |  |  |  | 6.0 |
Total Debt |  | $ | 737,322 |  |  | $ | (5,697 | ) |  | $ | 731,625 |  |  |  |  |  | 3.5% |  |  |  | 5.6 |
| (1) | The unsecured credit facility total capacity is $300,000, of which $159,690 was outstanding as of September 30, 2017.
| (2) | As of September 30, 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 1.1325%, 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 |  |  |
Unsecured credit facility |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 109,690 |  |  | $ | 50,000 |  |  |
Mortgages-Fixed rate |  |  | 685 |  |  |  | 3,245 |  |  |  | 4,660 |  |  |  | 7,611 |  |  |  | 102,597 |  |  |  | 458,834 |  |  |
Total |  | $ | 685 |  |  | $ | 3,245 |  |  | $ | 4,660 |  |  | $ | 7,611 |  |  | $ | 212,287 |  |  | $ | 508,834 |  |  |
As of September 30, 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) |  | $ | 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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