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Indebtedness
3 Months Ended
Mar. 31, 2019
Debt Disclosure [Abstract]  
Indebtedness

NOTE 4: Indebtedness

The following tables contain summary information concerning our indebtedness as of March 31, 2019:

Debt:

 

Outstanding Principal

 

 

Unamortized Discount and Debt Issuance Costs

 

 

Carrying Amount

 

 

Type

 

Weighted Average Rate

 

 

Weighted Average Maturity (in years)

 

     Unsecured credit facility (1)

 

$

111,743

 

 

$

(1,598

)

 

$

110,145

 

 

Floating

 

4.1%

 

 

 

2.5

 

Unsecured term loans

 

 

300,000

 

 

 

(1,549

)

 

 

298,451

 

 

Floating

 

4.1%

 

 

 

5.1

 

     Mortgages

 

 

584,765

 

 

 

(2,441

)

 

 

582,324

 

 

Fixed

 

3.8%

 

 

 

4.9

 

Total Debt

 

$

996,508

 

 

$

(5,588

)

 

$

990,920

 

 

 

 

3.9%

 

 

 

4.7

 

 

(1)

The unsecured credit facility total capacity is $300,000, of which $111,743 was outstanding as of March 31, 2019.   

 

 

 

Original maturities on or before December 31,

 

Debt:

 

2019

 

 

2020

 

 

2021

 

 

2022

 

 

2023

 

 

Thereafter

 

Unsecured credit facility

 

$

-

 

 

$

-

 

 

$

61,743

 

 

$

50,000

 

 

$

-

 

 

$

-

 

Unsecured term loans

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

300,000

 

Mortgages

 

 

4,042

 

 

 

8,135

 

 

 

76,033

 

 

 

70,700

 

 

 

107,202

 

 

 

318,653

 

Total

 

$

4,042

 

 

$

8,135

 

 

$

137,776

 

 

$

120,700

 

 

$

107,202

 

 

$

618,653

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of March 31, 2019, 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, 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)

 

$

155,743

 

 

$

(1,760

)

 

$

153,983

 

 

Floating

 

3.9%

 

 

 

2.7

 

Unsecured term loans

 

 

250,000

 

 

 

(1,620

)

 

 

248,380

 

 

Floating

 

4.0%

 

 

 

5.4

 

Mortgages

 

 

585,672

 

 

 

(2,547

)

 

 

583,125

 

 

Fixed

 

3.8%

 

 

 

5.1

 

Total Debt

 

$

991,415

 

 

$

(5,927

)

 

$

985,488

 

 

 

 

3.9%

 

 

 

4.8

 

 

 

(1)

The unsecured credit facility total capacity was $300,000, of which $155,743 was outstanding as of December 31, 2018.