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Mortgages and Notes Payable (Tables) | 12 Months Ended
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Dec. 31, 2015
Debt Disclosure [Abstract] |
Schedule of Consolidated Mortgages and Notes Payable | Our mortgages and notes payable consist of the following:
| December 31,
| 2015 |  | 2014
Secured indebtedness: (1) |  |  |
5.17% (6.43% effective rate) mortgage loan due 2015 (2) | $ | — |  |  | $ | 39,324 |
6.88% mortgage loans due 2016 (3) | — |  |  | 107,556 |
7.50% mortgage loan due 2016 | 43,852 |  |  | 44,501 |
5.10% (4.22% effective rate) mortgage loan due 2017 (4) | 112,230 |  |  | 115,229 |
6.11% (5.36% effective rate) mortgage loan due 2017 (5) | 19,199 |  |  | — |
8.15% (7.65% effective rate) mortgage loan due 2016 (6) | — |  |  | 6,258 |
| 175,281 |  |  | 312,868 |
Unsecured indebtedness: |  |  |
5.85% (5.88% effective rate) notes due 2017 (7) | 379,544 |  |  | 379,427 |
7.50% notes due 2018 | 200,000 |  |  | 200,000 |
3.20% (3.363% effective rate) notes due 2021 (8) | 297,639 |  |  | 297,207 |
3.625% (3.752% effective rate) notes due 2023 (9) | 248,150 |  |  | 247,887 |
Variable rate term loan due 2019 (10) | 200,000 |  |  | 200,000 |
Variable rate term loan due 2020 (11) | 350,000 |  |  | 225,000 |
Bridge credit facility due 2016 (12) | 350,000 |  |  | — |
Revolving credit facility due 2018 (13) | 299,000 |  |  | 209,000 |
| 2,324,333 |  |  | 1,758,521 |
Total | $ | 2,499,614 |  |  | $ | 2,071,389 |
__________
(1) | Our secured mortgage loans were collateralized by real estate assets with an aggregate undepreciated book value of $314.2 million at December 31, 2015. Our fixed rate mortgage loans generally are either locked out to prepayment for all or a portion of their term or are prepayable subject to certain conditions including prepayment penalties.
(2) | Net of unamortized fair market value discount of $0.4 million as of December 31, 2014. This debt was repaid in 2015.
(3) | This debt was repaid in 2015.
(4) | Net of unamortized fair market value premium of $1.7 million and $2.7 million as of December 31, 2015 and 2014, respectively.
(5) | Net of unamortized fair market value premium of $0.2 million as of December 31, 2015.
(6) | Net of unamortized fair market value premium of $0.1 million as of December 31, 2014. This debt was repaid in 2015.
(7) | Net of unamortized original issuance discount of $0.1 million and $0.3 million as of December 31, 2015 and 2014, respectively.
(8) | Net of unamortized original issuance discount of $2.4 million and $2.8 million as of December 31, 2015 and 2014, respectively.
(9) | Net of unamortized original issuance discount of $1.9 million and $2.1 million as of December 31, 2015 and 2014, respectively.
(10) | The interest rate is 1.44% at December 31, 2015.
(11) | As more fully described in Note 7, we entered into floating-to-fixed interest rate swaps that effectively fix LIBOR for the original $225.0 million portion of this loan. Accordingly, the equivalent fixed rate of this amount is 2.78%. The interest rate on the remaining $125.0 million is 1.41% at December 31, 2015.
(12) | The interest rate is 1.49% at December 31, 2015.
(13) | The interest rate is 1.45% at December 31, 2015.
Schedule of Long-term Debt Instruments | The following table sets forth scheduled future principal payments, including amortization, due on our mortgages and notes payable at December 31, 2015:
Years Ending December 31, |  | Principal Amount
2016 |  | $ | 396,090 |
2017 |  | 507,345 |
2018 |  | 498,305 |
2019 |  | 199,305 |
2020 |  | 349,305 |
Thereafter |  | 549,264 |
|  | $ | 2,499,614 |

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