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Debt of the Operating Partnership (Tables) | 12 Months Ended
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Dec. 31, 2021
Debt Disclosure [Abstract] |
Schedule of outstanding borrowings | The Company’s outstanding indebtedness as of December 31, 2021 and 2020 is as follows:
|  | Contractual Interest Rate | Effective Interest Rate as of December 31, 2021 | December 31, 2021 | December 31, 2020
Indebtedness | Stated Maturity Date | Carrying Amount | Estimated Fair Value | Carrying Amount | Estimated Fair Value
2013 Mortgage Loans |  |  | (in thousands)
Senior note | 5/2023 | 3.81% | 4.14% | $ | 167,545 |  | $ | 170,503 |  | $ | 174,693 |  | $ | 180,807 |
Mezzanine A | 5/2023 | 7.38% | 7.55% | 70,000 |  | 70,875 |  | 70,000 |  | 71,925 |
Mezzanine B | 5/2023 | 11.50% | 11.75% | 32,000 |  | 32,560 |  | 32,000 |  | 33,040 |
Total 2013 Mortgage Loans |  |  |  | 269,545 |  | 273,938 |  | 276,693 |  | 285,772 |
Chile Mortgages(12) | 2022 - 2029 | 4.01% | 4.01% | 9,761 |  | 9,761 |  | — |  | — |
Senior Unsecured Notes |  |  |  |  |  |
Series A notes | 1/2026 | 4.68% | 4.77% | 200,000 |  | 217,500 |  | 200,000 |  | 231,000 |
Series B notes | 1/2029 | 4.86% | 4.92% | 400,000 |  | 454,000 |  | 400,000 |  | 475,000 |
Series C notes | 1/2030 | 4.10% | 4.15% | 350,000 |  | 385,000 |  | 350,000 |  | 400,750 |
Series D notes(5) | 1/2031 | 1.62% | 1.67% | 454,800 |  | 441,724 |  | 488,640 |  | 488,640 |
Series E notes(6) | 1/2033 | 1.65% | 1.70% | 397,950 |  | 388,499 |  | 427,560 |  | 427,560 |
Total Senior Unsecured Notes |  |  |  | 1,802,750 |  | 1,886,723 |  | 1,866,200 |  | 2,022,950 |
2020 Senior Unsecured Term Loan Tranche A-1(1) | 3/2025 | L+0.95% | 1.33% | 175,000 |  | 173,688 |  | 325,000 |  | 323,375 |
2020 Senior Unsecured Term Loan Tranche A-2 (2)(4) | 3/2025 | C+0.95% | 1.55% | 197,800 |  | 196,811 |  | 196,325 |  | 195,343 |
Total 2020 Senior Unsecured Term Loan A Facility |  | 372,800 |  | 370,499 |  | 521,325 |  | 518,718 |
2020 Senior Unsecured Revolving Credit Facility-1(2)(3)(7) | 3/2024 | C+0.85% | 1.83% | 43,516 |  | 43,407 |  | — |  | — |
2020 Senior Unsecured Revolving Credit Facility-2(3)(8)(9) | 3/2024 | SONIA +0.85% | 1.61% | 92,694 |  | 92,462 |  | — |  | — |
2020 Senior Unsecured Revolving Credit Facility-3(1)(3) | 3/2024 | L+0.85% | 1.48% | 205,000 |  | 204,488 |  | — |  | — |
2020 Senior Unsecured Revolving Credit Facility-4(3)(10)(11) | 3/2024 | BBSW +0.85% | 1.45% | 58,104 |  | 57,959 |  | — |  | — |
Total 2020 Senior Unsecured Revolving Credit Facility |  | 399,314 |  | 398,316 |  | — |  | — |
Total principal amount of indebtedness | 2,854,170 |  | 2,939,237 |  | 2,664,218 |  | 2,827,440 |
Less deferred financing costs |  |  |  | (11,050) |  | n/a | (15,952) |  | n/a
Total indebtedness, net of unamortized deferred financing costs (3) | $ | 2,843,120 |  | $ | 2,939,237 |  | $ | 2,648,266 |  | $ | 2,827,440 |
(1)L = one-month LIBOR (2)C = one-month CDOR (3)The Company has the option to extend the 2020 Senior Unsecured Revolving Credit Facility up to two times for a six-month period each. (4)The 2020 Senior Unsecured Term Loan Tranche A-2 is denominated in Canadian dollars and aggregates to CAD 250.0 million. The carrying value in the table above is the US dollar equivalent as of December 31, 2021. (5)The Senior Unsecured Notes Series D is denominated in Euros and aggregates to €400.0 million. The carrying value in the table above is the US dollar equivalent as of December 31, 2021. (6)The Senior Unsecured Notes Series E is denominated in Euros and aggregates to €350.0 million. The carrying value in the table above is the US dollar equivalent as of December 31, 2021. (7) The Senior Unsecured Revolving Credit Facility Draw 1 as of December 31, 2021, is denominated in CAD and aggregates to CAD $55.0 million. The carrying value in the table above is the US dollar equivalent as of December 31, 2021. (8) The Senior Unsecured Revolving Credit Facility Draw 2 as of December 31, 2021, is denominated in GBP and aggregates to GBP £68.5 million. The carrying value in the table above is the US dollar equivalent as of December 31, 2021. (9) SONIA = Sterling Overnight Interbank Average Rate. (10) BBSW = Bank Bill Swap Rate (11) The Senior Unsecured Revolving Credit Facility Draw 4 as of December 31, 2021, is denominated in AUD and aggregates to AUD 80.0 million. The carrying value in the table above is the US dollar equivalent as of December 31, 2021. (12) The Chile Mortgages were assumed in connection with the Agro Acquisition, and have varying maturities and interest rates. The above aggregates these given the immaterial balance of each individually.
Schedule of aggregate maturities of total indebtedness | The aggregate maturities of indebtedness as of December 31, 2021, including amortization of principal amounts due under the mortgage notes for each of the next five years and thereafter, are as follows:
Years Ending December 31: | (In thousands)
2022 | $ | 8,729
2023 | 263,822
2024 | 1,536
2025 | 773,713 |
2026 | 201,664
Thereafter | 1,604,706
Aggregate principal amount of debt | 2,854,170
Less unamortized deferred financing costs | (11,050) |
Total debt net of deferred financing costs | $ | 2,843,120
Schedule of special purpose separateness | Each of the Company’s legal entities listed in the table below is a special purpose, bankruptcy remote entity, meaning that such entity’s assets and credit are not available to satisfy the debt and other obligations of either the Company or any of its other affiliates.
Legal Entity/SPE |  | Related Obligation
ART Mortgage Borrower Propco 2013 LLC |  | 2013 Mortgage Notes
ART Mortgage Borrower Opco 2013 LLC |

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