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Debt (Tables) | 6 Months Ended
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Jun. 30, 2019
Debt Instruments [Abstract] |
Schedule of Debt | Debt consists of the following (in thousands):
| June 30, 2019 |  | December 31, 2018
Revolving credit facility - unsecured | $ | 273,000 |  |  | $ | 84,000 |
Bank term loans - unsecured | 550,000 |  |  | 550,000 |
Private placement term loans - unsecured | 400,000 |  |  | 400,000 |
HUD mortgage loans (net of discount of $1,278 and $1,320) | 42,526 |  |  | 42,906 |
Fannie Mae term loans - secured, non-recourse | 95,876 |  |  | 96,044 |
Convertible senior notes - unsecured (net of discount of $1,004 and $1,391) | 118,996 |  |  | 118,609 |
Unamortized loan costs | (8,611 | ) |  | (9,884 | )
| $ | 1,471,787 |  |  | $ | 1,281,675 |
Schedule of Maturities of Long-term Debt | Aggregate principal maturities of debt as of June 30, 2019, and for each of the next five years and thereafter are as follows (in thousands):
2020 | $ | 1,208 |
2021 | 121,256 |
2022 | 1,303 |
2023 | 649,353 |
2024 | 351,402 |
Thereafter | 358,158 |
| 1,482,680 |
Less: discount | (2,282 | )
Less: unamortized loan costs | (8,611 | )
| $ | 1,471,787 |
Schedule of Unsecured Term Loans | Our unsecured private placement term loans, payable interest-only, are summarized below (in thousands):
Amount |  | Inception |  | Maturity |  | Fixed Rate
$ | 125,000 |  |  | January 2015 |  | January 2023 |  | 3.99%
50,000 |  |  | November 2015 |  | November 2023 |  | 3.99%
75,000 |  |  | September 2016 |  | September 2024 |  | 3.93%
50,000 |  |  | November 2015 |  | November 2025 |  | 4.33%
100,000 |  |  | January 2015 |  | January 2027 |  | 4.51%
$ | 400,000 |  |  |  |  |  |  |
Schedule of Interest Expense | The following table summarizes interest expense (in thousands):
| Three Months Ended |  | Six Months Ended
| June 30, |  | June 30,
| 2019 |  | 2018 |  | 2019 |  | 2018
Interest expense on debt at contractual rates | $ | 13,355 |  |  | $ | 11,414 |  |  | $ | 26,429 |  |  | $ | 21,941 |
Losses reclassified from accumulated other |  |  |  |  |  |  |
comprehensive income (loss) into interest expense | (349 | ) |  | 76 |  |  | (641 | ) |  | 352 |
Capitalized interest | (158 | ) |  | (47 | ) |  | (315 | ) |  | (71 | )
Amortization of debt issuance costs and debt discount | 898 |  |  | 777 |  |  | 1,791 |  |  | 1,612 |
Total interest expense | $ | 13,746 |  |  | $ | 12,220 |  |  | $ | 27,264 |  |  | $ | 23,834 |
Schedule of Interest Rate Derivatives | As of June 30, 2019, we employ the following interest rate swap contracts to mitigate our interest rate risk on our bank term and revolver loans described above (dollars in thousands):
Date Entered |  | Maturity Date |  | Fixed Rate |  | Rate Index |  | Notional Amount |  | Fair Value
June 2013 |  | June 2020 |  | 3.41% |  | 1-month LIBOR |  | $ | 80,000,000 |  |  | $ | (208 | )
March 2014 |  | June 2020 |  | 3.46% |  | 1-month LIBOR |  | $ | 130,000,000 |  |  | $ | (398 | )
March 2019 |  | December 2021 |  | 3.46% |  | 1-month LIBOR |  | $ | 100,000,000 |  |  | $ | (1,436 | )
March 2019 |  | December 2021 |  | 3.47% |  | 1-month LIBOR |  | $ | 100,000,000 |  |  | $ | (1,468 | )
June 2019 |  | December 2021 |  | 2.84% |  | 1-month LIBOR |  | $ | 150,000,000 |  |  | $ | 48 |
June 2019 |  | December 2021 |  | 2.88% |  | 1-month LIBOR |  | $ | 50,000,000 |  |  | $ | 1 |

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- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e),(f)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644 + Details
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