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Indebtedness
 3 Months Ended
Mar. 31, 2024
Debt Disclosure [Abstract]  
Indebtedness
NOTE 5: Indebtedness
The following tables contain summary information concerning our consolidated indebtedness, including indebtedness secured by real estate held for sale, as of March 31, 2024:
Consolidated Debt:Outstanding PrincipalUnamortized Debt Issuance CostsUnamortized Loan (Discount)/PremiumsCarrying
 Amount		Type
Weighted
Average Contractual Rate (3)
Weighted
Average Hedged Effective Rate (4)
Weighted
Average
Maturity
(in years)
Unsecured revolver (1)$108,978 $(884)$— $108,094 Floating6.6%4.8%1.8
Unsecured term loans600,000 (2,302)— 597,698 Floating6.5%4.4%3.3
Secured credit facilities585,635 (2,210)20,594 604,019 Fixed4.2%4.4%4.7
Mortgages (2)952,396 (4,319)19,210 967,287 Fixed3.8%4.0%4.2
Total Consolidated
  Debt		$2,247,009 $(9,715)$39,804 $2,277,098 4.8%4.2%3.9
(1)The unsecured revolver total capacity is $500,000, of which $108,978 was outstanding as of March 31, 2024.
(2)Includes indebtedness secured by real estate held for sale of $64,825.
(3)Represents the weighted average of the contractual interest rates in effect as of the three months ended March 31, 2024, without regard to any interest rate swaps or collars.
(4)Represents the weighted average effective interest rates for the three months ended March 31, 2024, including the impact of interest rate swaps and collars, the amortization of hedging costs, and deferred financing costs, but excluding the impact of loan premium amortization, discount accretion, and interest capitalization.
The following table contains summary information concerning our consolidated indebtedness as of March 31, 2024:
 
Scheduled maturities on our consolidated indebtedness outstanding as of March 31, 2024
Consolidated Debt:20242025202620272028Thereafter
Unsecured revolver$— $— $108,978 $— $— $— 
Unsecured term loans— — 200,000 — 400,000 — 
Secured credit facilities— 3,065 9,111 10,081 453,937 109,441 
Mortgages (1)19,626 134,170 128,984 13,600 181,161 474,855 
Total$19,626 $137,235 $447,073 $23,681 $1,035,098 $584,296 
(1)Includes indebtedness secured by real estate held for sale.
The following table contains summary information concerning our consolidated indebtedness, including indebtedness secured by real estate held for sale, as of December 31, 2023:
Consolidated Debt:Outstanding PrincipalUnamortized Debt Issuance CostsUnamortized Loan (Discount)/PremiumsCarrying AmountType
Weighted
Average Contractual Rate (3)
Weighted
Average Hedged Effective Rate (4)
Weighted
Average
Maturity
(in years)
Unsecured revolver (1)$234,479 $(1,117)$— $233,362 Floating6.6%5.4%2.1
Unsecured term loans600,000 (2,456)— 597,544 Floating6.5%3.9%3.5
Secured credit facilities586,286 (1,949)21,762 606,099 Floating/Fixed4.2%4.6%4.9
Mortgages (2)1,094,933 (5,250)22,721 1,112,404 Fixed3.8%4.0%4.3
Total Consolidated Debt$2,515,698 $(10,772)$44,483 $2,549,409 4.8%4.2%4.0
(1)The unsecured revolver total capacity was $500,000, of which $234,479 was outstanding as of December 31, 2023.
(2)Includes indebtedness secured by real estate held for sale of $122,621.
(3)Represents the weighted average of the contractual interest rates in effect as of year-end December 31, 2023, without regard to any interest rate swaps or collars.
(4)Represents the total weighted average effective interest rates for the full year ended December 31, 2023, after giving effect to all components of interest expense including the impact of interest rate swaps and collars, but excluding the impact of loan premium amortization, discount accretion, and interest capitalization.
As of March 31, 2024, we were in compliance with all financial covenants contained in our consolidated indebtedness.
In connection with property sales associated with our Portfolio Optimization and Deleveraging Strategy, we paid off mortgages totaling $140,158 and made paydowns on our secured revolver totaling $151,868 during the three months ended March 31, 2024.