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Indebtedness | 3 Months Ended
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Mar. 31, 2018
Debt Disclosure [Abstract] |
Indebtedness | NOTE 4: Indebtedness The following tables contain summary information concerning our indebtedness as of March 31, 2018:
Debt: |  | Outstanding Principal |  |  | Unamortized Discount and Debt Issuance Costs |  |  | Carrying Amount |  |  | Type |  | Weighted Average Rate |  |  | Weighted Average Maturity (in years) |
Unsecured credit facility (1) |  | $ | 190,005 |  |  | $ | (2,216 | ) |  | $ | 187,789 |  |  | Floating |  | 3.0% |  |  |  | 3.3 |
Term loan |  |  | 100,000 |  |  |  | (894 | ) |  |  | 99,106 |  |  | Floating |  | 3.2% |  |  |  | 6.6 |
Mortgages |  |  | 619,399 |  |  |  | (3,008 | ) |  |  | 616,391 |  |  | Fixed |  | 3.8% |  |  |  | 5.7 |
Total Debt |  | $ | 909,404 |  |  | $ | (6,118 | ) |  | $ | 903,286 |  |  |  |  | 3.6% |  |  |  | 5.3 |
| (1) | The unsecured credit facility total capacity is $300,000, of which $190,005 was outstanding as of March 31, 2018.
|  | Original maturities on or before December 31, |
Debt: |  | 2018 |  |  | 2019 |  |  | 2020 |  |  | 2021 |  |  | 2022 |  |  | Thereafter |
Unsecured credit facility |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 140,005 |  |  | $ | 50,000 |  |  | $ | - |
Term loan |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 100,000 |
Mortgages |  |  | 2,509 |  |  |  | 5,581 |  |  |  | 8,726 |  |  |  | 103,764 |  |  |  | 74,977 |  |  |  | 423,842 |
Total |  | $ | 2,509 |  |  | $ | 5,581 |  |  | $ | 8,726 |  |  | $ | 243,769 |  |  | $ | 124,977 |  |  | $ | 523,842 |
As of March 31, 2018, we were in compliance with all financial covenants contained in documents governing our indebtedness. The following table contains summary information concerning our indebtedness as of December 31, 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) |  | $ | 104,005 |  |  | $ | (2,376 | ) |  | $ | 101,629 |  |  | Floating |  | 3.0% |  |  |  | 3.8 |
Term loan |  |  | 100,000 |  |  |  | (895 | ) |  |  | 99,105 |  |  | Floating |  | 3.2% |  |  |  | 6.9 |
Mortgages |  |  | 580,635 |  |  |  | (2,927 | ) |  |  | 577,708 |  |  | Fixed |  | 3.7% |  |  |  | 5.8 |
Total Debt |  | $ | 784,640 |  |  | $ | (6,198 | ) |  | $ | 778,442 |  |  |  |  | 3.6% |  |  |  | 5.7 |
| (1) | The secured credit facility total capacity was $300,000, of which $104,005 was outstanding as of December 31, 2017.
On January 3, 2018, in connection with the acquisition of our Hartshire Lakes property, we assumed a $16,000 loan secured by a first mortgage on the property. The loan bears interest at a rate of 4.68% per annum, provides for monthly payments of interest only through January 2019, when principal and interest payments will be due monthly based on a 30-year amortization schedule, and matures January 2025. The loan was recorded at its fair value of $15,936 based on a discounted cash flows valuation technique. As this technique utilizes current credit spreads, which are generally unobservable, this is classified as a Level 3 fair value measurement within the fair value hierarchy. On January 3, 2018, in connection with the acquisition of our Creekside Corners property, we assumed a $23,500 loan secured by a first mortgage on the property. The loan bears interest at a rate of 4.56% per annum, provides for monthly payments of interest only through January 2019, when principal and interest payments will be due monthly based on a 30-year amortization schedule, and matures January 2025. The loan was recorded at its fair value of $23,426 based on a discounted cash flows valuation technique. As this technique utilizes current credit spreads, which are generally unobservable, this is classified as a Level 3 fair value measurement within the fair value hierarchy.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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