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Mortgages and Notes Payable (Tables) | 12 Months Ended
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Dec. 31, 2021
Debt Disclosure [Abstract] |
Schedule of Consolidated Mortgages and Notes Payable | Our mortgages and notes payable consisted of the following:
| December 31,
| 2021 |  | 2020
Secured indebtedness (1): |  |  |
4.27% (3.61% effective rate) mortgage loan due 2028 (2) | $ | 115,731 |  |  | $ | — |
4.00% mortgage loan due 2029 | 91,318 |  |  | 93,350 |
3.61% (3.19% effective rate) mortgage loan due 2029 (3) | 84,973 |  |  | — |
3.40% (3.50% effective rate) mortgage loan due 2033 (4) | 69,422 |  |  | — |
4.60% (3.73% effective rate) mortgage loan due 2037 (5) | 130,498 |  |  | — |
| 491,942 |  |  | 93,350 |
Unsecured indebtedness: |  |  |
3.20% (3.363% effective rate) notes due 2021 (6) | — |  |  | 149,901 |
3.625% (3.752% effective rate) notes due 2023 (7) | 249,726 |  |  | 249,464 |
3.875% (4.038% effective rate) notes due 2027 (8) | 297,934 |  |  | 297,534 |
4.125% (4.271% effective rate) notes due 2028 (9) | 347,449 |  |  | 347,035 |
4.20% (4.234% effective rate) notes due 2029 (10) | 349,288 |  |  | 349,189 |
3.050% (3.079% effective rate) notes due 2030 (11) | 399,204 |  |  | 399,106 |
2.600% (2.645% effective rate) notes due 2031 (12) | 398,579 |  |  | 398,423 |
Variable rate term loan due 2022 (13) | 200,000 |  |  | 200,000 |
Revolving credit facility due 2025 (14) | 70,000 |  |  | — |
| 2,312,180 |  |  | 2,390,652 |
Less-unamortized debt issuance costs | (15,207) |  |  | (13,981) |
Total mortgages and notes payable, net | $ | 2,788,915 |  |  | $ | 2,470,021 |
__________ (1)Our secured mortgage loans were collateralized by real estate assets with an undepreciated book value of $727.8 million at December 31, 2021. We paid down $3.8 million of secured loan balances through principal amortization during 2021. (2)Net of unamortized fair market value premium of $3.9 million as of December 31, 2021. (3)Net of unamortized fair market value premium of $2.3 million as of December 31, 2021. (4)Net of unamortized fair market value discount of $0.6 million as of December 31, 2021. (5)Net of unamortized fair market value premium of $10.0 million as of December 31, 2021. (6)Net of unamortized original issuance discount of $0.1 million as of December 31, 2020. This debt was repaid in 2021. (7)Net of unamortized original issuance discount of $0.3 million and $0.5 million as of December 31, 2021 and 2020, respectively. (8)Net of unamortized original issuance discount of $2.1 million and $2.5 million as of December 31, 2021 and 2020, respectively. (9)Net of unamortized original issuance discount of $2.6 million and $3.0 million as of December 31, 2021 and 2020, respectively. (10)Net of unamortized original issuance discount of $0.7 million and $0.8 million as of December 31, 2021 and 2020, respectively. (11)Net of unamortized original issuance discount of $0.8 million and $0.9 million as of December 31, 2021 and 2020, respectively. (12)Net of unamortized original issuance discount of $1.4 million and $1.6 million as of December 31, 2021 and 2020, respectively. (13)As more fully described in Note 7, we entered into floating-to-fixed interest rate swaps that effectively fix LIBOR for $50.0 million of this loan through January 2022. Accordingly, the equivalent fixed rate of this amount is 2.79%. The interest rate on the remaining $150.0 million was 1.20% at December 31, 2021. (14)The interest rate was 1.00% at December 31, 2021.
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, 2021:
Years Ending December 31, |  | Amount
2022 |  | $ | 206,524 |
2023 |  | 257,059 |
2024 |  | 7,365 |
2025 |  | 77,176 |
2026 |  | 6,911 |
Thereafter |  | 2,249,087 |
Less-unamortized debt issuance costs |  | (15,207) |
|  | $ | 2,788,915 |

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