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Debt (Tables) | 9 Months Ended
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Sep. 30, 2019
Debt Instruments [Abstract] |
Schedule of Debt | Debt consists of the following (in thousands):
| September 30, 2019 |  | December 31, 2018
Revolving credit facility - unsecured | $ | 250,000 |  |  | $ | 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 $1,258 and $1,320) | 42,333 |  |  | 42,906 |
Fannie Mae term loans - secured, non-recourse | 95,793 |  |  | 96,044 |
Convertible senior notes - unsecured (net of discount of $807 and $1,391) | 119,193 |  |  | 118,609 |
Unamortized loan costs | (7,959 | ) |  | (9,884 | )
| $ | 1,449,360 |  |  | $ | 1,281,675 |
Schedule of Maturities of Long-term Debt | Aggregate principal maturities of debt as of September 30, 2019, and for each of the next five years and thereafter are as follows (in thousands):
2020 | $ | 1,219 |
2021 | 121,267 |
2022 | 501,315 |
2023 | 426,366 |
2024 | 51,416 |
Thereafter | 357,801 |
| 1,459,384 |
Less: discount | (2,065 | )
Less: unamortized loan costs | (7,959 | )
| $ | 1,449,360 |
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 |  | Nine Months Ended
| September 30, |  | September 30,
| 2019 |  | 2018 |  | 2019 |  | 2018
Interest expense on debt at contractual rates | $ | 14,308 |  |  | $ | 11,637 |  |  | $ | 40,736 |  |  | $ | 33,579 |
Losses reclassified from accumulated other |  |  |  |  |  |  |
comprehensive income (loss) into interest expense | (390 | ) |  | (27 | ) |  | (1,031 | ) |  | 326 |
Capitalized interest | (161 | ) |  | (50 | ) |  | (476 | ) |  | (123 | )
Amortization of debt issuance costs and debt discount | 904 |  |  | 814 |  |  | 2,696 |  |  | 2,425 |
Total interest expense | $ | 14,661 |  |  | $ | 12,374 |  |  | $ | 41,925 |  |  | $ | 36,207 |
Schedule of Interest Rate Derivatives | As of September 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 (Liability)
June 2013 |  | June 2020 |  | 3.46% |  | 1-month LIBOR |  | $ | 80,000,000 |  |  | $ | (238 | )
March 2014 |  | June 2020 |  | 3.51% |  | 1-month LIBOR |  | $ | 130,000,000 |  |  | $ | (431 | )
March 2019 |  | December 2021 |  | 3.51% |  | 1-month LIBOR |  | $ | 100,000,000 |  |  | $ | (1,691 | )
March 2019 |  | December 2021 |  | 3.52% |  | 1-month LIBOR |  | $ | 100,000,000 |  |  | $ | (1,720 | )
June 2019 |  | December 2021 |  | 2.89% |  | 1-month LIBOR |  | $ | 150,000,000 |  |  | $ | (538 | )
June 2019 |  | December 2021 |  | 2.93% |  | 1-month LIBOR |  | $ | 50,000,000 |  |  | $ | (193 | )

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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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