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Debt (Tables) | 9 Months Ended
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Sep. 30, 2022
Debt Instruments [Abstract] |
Schedule of Debt | Debt consists of the following ($ in thousands):
| September 30, 2022 |  | December 31, 2021
Revolving credit facility - unsecured | $ | 10,000 |  |  | $ | — |
Bank term loans - unsecured | 240,000 |  |  | 375,000 |
Senior notes - unsecured, net of discount of $2,680 and $2,921 | 397,320 |  |  | 397,079 |
Private placement term loans - unsecured | 400,000 |  |  | 400,000 |
Fannie Mae term loans - secured, non-recourse | 76,748 |  |  | 77,038 |
Unamortized loan costs | (9,069) |  |  | (6,234) |
| $ | 1,114,999 |  |  | $ | 1,242,883 |
Schedule of Maturities of Long-term Debt | Aggregate principal maturities of debt as of September 30, 2022 are as follows ($ in thousands):
Remainder of 2022 | $ | 99 |
2023 | 415,408 |
2024 | 75,425 |
2025 | 125,816 |
2026 | 10,000 |
2027 | 100,000 |
Thereafter | 400,000 |
| 1,126,748 |
Less: discount | (2,680) |
Less: unamortized loan costs | (9,069) |
| $ | 1,114,999 |
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,
| 2022 |  | 2021 |  | 2022 |  | 2021
Interest expense on debt at contractual rates | $ | 10,821 |  |  | $ | 10,234 |  |  | $ | 30,640 |  |  | $ | 31,055 |
Losses reclassified from accumulated other |  |  |  |  |  |  |
comprehensive income into interest expense | — |  |  | 1,851 |  |  | — |  |  | 5,449 |
Capitalized interest | (18) |  |  | (6) |  |  | (28) |  |  | (40) |
Amortization of debt issuance costs, debt discount and other | 609 |  |  | 636 |  |  | 1,860 |  |  | 2,064 |
Total interest expense | $ | 11,412 |  |  | $ | 12,715 |  |  | $ | 32,472 |  |  | $ | 38,528 |
On December 31, 2021, our $400.0 million interest rate swap agreements matured that were in place to hedge against fluctuations in variable interest rates applicable to our bank loans.

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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://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 Reference 3: 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=124435984&loc=d3e28541-108399 Reference 4: 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=123467817&loc=d3e21506-112644 Reference 5: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 55 -Paragraph 69B -URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495735-112612 Reference 6: 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=124435984&loc=d3e28551-108399 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 55 -Paragraph 69E -URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495743-112612 Reference 8: 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=123467817&loc=d3e21521-112644 Reference 9: 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=123467817&loc=d3e21538-112644 Reference 10: 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=123599511&loc=d3e64711-112823 Reference 11: 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 12: 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=123467817&loc=d3e21475-112644 + Details
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