XML 23 R13.htm IDEA: XBRL DOCUMENT v3.23.3
Indebtedness
9 Months Ended
Sep. 30, 2023
Debt Disclosure [Abstract]  
Indebtedness
NOTE 5: Indebtedness
The following tables contain summary information concerning our consolidated indebtedness as of September 30, 2023:
Consolidated Debt:Outstanding PrincipalUnamortized Debt Issuance CostsUnamortized Loan (Discount)/PremiumsCarrying
 Amount
Type
Weighted
Average Rate (3)
Weighted
Average
Maturity
(in years)
Unsecured revolver (1)$241,479 $(1,244)$— $240,235 Floating6.6%2.3
Unsecured term loans600,000 (2,610)— 597,390 Floating6.5%3.8
Secured credit facilities617,114 (2,158)23,248 638,204 Floating/Fixed4.3%5.2
Mortgages (2)1,218,462 (6,105)27,524 1,239,881 Fixed4.0%4.4
Total Consolidated
  Debt
$2,677,055 $(12,117)$50,772 $2,715,710 4.9%4.2
(1)The unsecured revolver total capacity is $500,000, of which $241,479 was outstanding as of September 30, 2023.
(2)Includes indebtedness associated with real estate held for sale of $40,593.
(3)Represents the weighted average of the contractual interest rates in effect as of quarter end without regard to any interest rate swaps or collars. Our total weighted average effective interest rate for the three months ended September 30, 2023, after giving effect to the impact of interest rate swaps and collars, and excluding the impact of loan premium amortization, discount accretion, and interest capitalization was 4.2%.
The following table contains summary information concerning our consolidated indebtedness as of September 30, 2023:
 
Scheduled maturities on our consolidated indebtedness outstanding as of September 30, 2023
Consolidated Debt:20232024202520262027Thereafter
Unsecured revolver$— $— $— $241,479 $— $— 
Unsecured term loans— — — 200,000 — 400,000 
Secured credit facilities— — 3,525 10,493 11,462 591,634 
Mortgages (1)2,873 68,318 214,667 144,949 15,946 771,709 
Total$2,873 $68,318 $218,192 $596,921 $27,408 $1,763,343 
(1)Includes indebtedness associated with real estate held for sale.
The following table contains summary information concerning our consolidated indebtedness as of December 31, 2022:
Consolidated Debt:Outstanding PrincipalUnamortized Debt Issuance CostsUnamortized Loan (Discount)/PremiumsCarrying AmountType
Weighted
Average Rate (3)
Weighted
Average
Maturity
(in years)
Unsecured revolver (1)$165,978 $(1,695)$— $164,283 Floating4.9%3.1
Unsecured term loans600,000 (3,388)— 596,612 Floating5.1%4.5
Secured credit facilities635,128 (2,256)27,670 660,542 Floating/Fixed4.3%5.9
Mortgages (2)1,185,246 (7,305)32,267 1,210,208 Fixed3.9%5.2
Total Consolidated Debt$2,586,352 $(14,644)$59,937 $2,631,645 4.5%5.1
(1)The unsecured revolver total capacity was $500,000, of which $165,978 was outstanding as of December 31, 2022.
(2)Includes indebtedness associated with real estate held for sale.
(3)Represents the weighted average of the contractual interest rates in effect as of quarter end without regard to any interest rate swaps or collars. Our total weighted average effective interest rate as of the year ended December 31, 2022, after giving effect to the impact of interest rate swaps and collars, and excluding the impact of loan premium amortization and discount accretion was 4.1%.
As of September 30, 2023, we were in compliance with all financial covenants contained in the documents governing our indebtedness.