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Debt (Tables) | 9 Months Ended
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Sep. 30, 2020
Debt Instruments [Abstract] |
Schedule of Debt | Debt consists of the following ($ in thousands):
| September 30, 2020 |  | December 31, 2019
Revolving credit facility - unsecured | $ | 288,000 |  |  | $ | 300,000 |
Bank term loans - unsecured | 650,000 |  |  | 550,000 |
Private placement term loans - unsecured | 400,000 |  |  | 400,000 |
HUD mortgage loans - secured, non-recourse | 41,542 |  |  | 42,138 |
Fannie Mae term loans - secured, non-recourse | 95,444 |  |  | 95,706 |
Convertible senior notes - unsecured | 60,000 |  |  | 59,697 |
Unamortized loan costs | (6,018) |  |  | (7,076) |
| $ | 1,528,968 |  |  | $ | 1,440,465 |
Schedule of Maturities of Long-term Debt | Aggregate principal maturities of debt as of September 30, 2020 are as follows (in thousands):
Remainder of 2020 | $ | 91 |
2021 | 448,371 |
2022 | 250,389 |
2023 | 475,407 |
2024 | 75,425 |
2025 | 143,761 |
Thereafter | 100,000 |
| 1,493,444 |
Less: unamortized loan costs | (6,018) |
HUD mortgages | 41,542 |
| $ | 1,528,968 |
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 Rate Derivatives | September 30, 2020, we employed the following interest rate swap contracts to mitigate our interest rate risk on our bank term and revolver loans described above ($ in thousands):
Date Entered |  | Maturity Date |  | Swap Rate |  | Rate Index |  | Notional Amount |  | Fair Value (Liability)
March 2019 |  | December 2021 |  | 2.22% |  | 1-month LIBOR |  | $ | 100,000 |  |  | $ | (2,597) |
March 2019 |  | December 2021 |  | 2.21% |  | 1-month LIBOR |  | $ | 100,000 |  |  | $ | (2,613) |
June 2019 |  | December 2021 |  | 1.61% |  | 1-month LIBOR |  | $ | 150,000 |  |  | $ | (2,736) |
June 2019 |  | December 2021 |  | 1.63% |  | 1-month LIBOR |  | $ | 50,000 |  |  | $ | (920) |
Schedule of Interest Expense | The following table summarizes interest expense ($ in thousands):
| Three Months Ended |  | Nine Months Ended
| September 30, |  | September 30,
| 2020 |  | 2019 |  | 2020 |  | 2019
Interest expense on debt at contractual rates | $ | 10,129 |  |  | $ | 14,308 |  |  | $ | 33,701 |  |  | $ | 40,736 |
(Gains) losses reclassified from accumulated other |  |  |  |  |  |  |
comprehensive income (loss) into interest expense | 1,778 |  |  | (390) |  |  | 4,533 |  |  | (1,031) |
Capitalized interest | (9) |  |  | (161) |  |  | (169) |  |  | (476) |
Amortization of debt issuance costs, debt discount and other | 994 |  |  | 904 |  |  | 2,524 |  |  | 2,696 |
Total interest expense | $ | 12,892 |  |  | $ | 14,661 |  |  | $ | 40,589 |  |  | $ | 41,925 |

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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=120391452&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=119993939&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=120395691&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=119993939&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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