v3.19.3.a.u2

Unsecured Credit Agreements (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2019
Summary of Debt Issuance Cost Amortization Related to Unsecured Revolving Credit Facility, Mortgages and Notes Payable, and Unsecured Term Notes | The following table summarizes debt issuance cost amortization related to the Unsecured revolving credit facility, Mortgages and notes payable, and Unsecured term notes
|  | For the years ended December 31, |
(in thousands) |  | 2019 |  |  | 2018 |  |  | 2017 |
Debt issuance costs amortization |  | $ | 2,685 |  |  | $ | 1,918 |  |  | $ | 1,794 |
Unsecured Debt |
Summary of Unsecured Credit Agreements | The following table summarizes the Company’s unsecured credit agreements:
|  | Outstanding Balance |  |  |  |  |  |  |
|  | December 31, |  |  | Interest |  |  | Maturity
(in thousands, except interest rates) |  | 2019 |  |  | 2018 |  |  | Rate(d) |  |  | Date
2019 Unsecured Term Loan(a) |  | $ | — |  |  | $ | 300,000 |  |  | one-month LIBOR + 1.40% |  |  | Feb. 2020(g)
2020 Unsecured Term Loan(a) |  |  | 300,000 |  |  |  | — |  |  | one-month LIBOR + 1.25% |  |  | Aug. 2020(h)
Unsecured Revolving Credit and Term Loan Agreement(a) |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revolving Credit Facility(b) |  |  | 197,300 |  |  |  | 141,100 |  |  | one-month LIBOR + 1.20%(e) |  |  | Jan. 2022
2023 Unsecured Term Loan |  |  | 265,000 |  |  |  | 265,000 |  |  | one-month LIBOR + 1.35% |  |  | Jan. 2023
2024 Unsecured Term Loan |  |  | 190,000 |  |  |  | 190,000 |  |  | one-month LIBOR + 1.25%(f) |  |  | Jun. 2024
|  |  | 652,300 |  |  |  | 596,100 |  |  |  |  |  |  |
2026 Unsecured Term Loan(a) |  |  | 450,000 |  |  |  | — |  |  | one-month LIBOR + 1.85% |  |  | Feb. 2026
Senior Notes(a) |  |  |  |  |  |  |  |  |  |  |  |  |  |
Series A |  |  | 150,000 |  |  |  | 150,000 |  |  | 4.84% |  |  | Apr. 2027
Series B |  |  | 225,000 |  |  |  | 225,000 |  |  | 5.09% |  |  | Jul. 2028
Series C |  |  | 100,000 |  |  |  | 100,000 |  |  | 5.19% |  |  | Jul. 2030
|  |  | 475,000 |  |  |  | 475,000 |  |  |  |  |  |  |
Total |  |  | 1,877,300 |  |  |  | 1,371,100 |  |  |  |  |  |  |
Debt issuance costs, net(c) |  |  | (7,919 | ) |  |  | (4,227 | ) |  |  |  |  |  |
|  | $ | 1,869,381 |  |  | $ | 1,366,873 |  |  |  |  |  |  |
(a) | The Company believes it was in compliance with all financial covenants for all periods presented.
(b) | At December 31, 2018, the Company had an outstanding balance of $15,000 on the swingline loan feature of the Revolving Credit Facility, due within five business days. On January 2, 2019, the balance became a part of the Revolving Credit Facility.
(c) | Amounts presented include debt issuance costs, net, related to the unsecured term notes and senior notes only.
(d) | At December 31, 2019 and 2018, one-month LIBOR was 1.76% and 2.35%, respectively.
(e) | At December 31, 2018, the swingline loan balance of $15,000 bore interest at 5.45% and the remaining Revolving Credit Facility balance of $126,100 bore interest at one-month LIBOR plus 1.20%.
(f) | On July 1, 2019 the Company amended the Unsecured Revolving Credit and Term Loan Agreement to reduce the variable rate margin from a range of 1.50% to 2.45% to a range of 0.85% to 1.65%. Prior to the amendment, at December 31, 2018, the applicable margin on the 2024 Unsecured Term Loan was 1.90%.
(g) | In January 2019 the Company exercised the first of two extension options, extending the maturity date of the loan from February 2019 to February 2020. The loan was subsequently repaid in full on February 27, 2019 in connection with entering into the 2026 Unsecured Term Loan.
(h) | The 2020 Unsecured Term Loan allows two six-month extensions, at the Company’s option, subject to payment of a fee equal to 0.05% of the outstanding principal balance at the time of extension.

X
- Definition Schedule of debt issuance costs. + References No definition available. + Details
Name: | ck1424182_ScheduleOfDebtIssuanceCostsTableTextBlock
Namespace Prefix: | ck1424182_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfDebtInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=us-gaap_UnsecuredDebtMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |