XML 72 R57.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Debt, Net (Details) |  | 3 Months Ended | 9 Months Ended |
--- | --- | --- | --- | ---
Oct. 10, 2018 USD ($) extension | Sep. 30, 2018 USD ($) | Sep. 30, 2017 USD ($) | Sep. 30, 2018 USD ($) | Sep. 30, 2017 USD ($) | Dec. 31, 2017 USD ($)
Debt |  |  |  |  |  |
Carrying Value |  | $ 1,808,030,000 |  | $ 1,808,030,000 |  | $ 1,828,333,000
Interest costs capitalized |  | 1,400,000 | $ 1,100,000 | 4,200,000 | $ 4,200,000 |
Secured Debt |  |  |  |  |  |
Debt |  |  |  |  |  |
Carrying Value |  | 168,944,000 |  | 168,944,000 |  | 163,838,000
Line of Credit | Revolving Credit Facility | Subsequent Event |  |  |  |  |  |
Debt |  |  |  |  |  |
Number of extensions | extension | 2 |  |  |  |  |
Extension option period | 6 months |  |  |  |  |
Maximum borrowing capacity | $ 800,000,000 |  |  |  |  |
Aggregate maximum borrowing capacity | $ 1,250,000,000 |  |  |  |  |
Extension fee percentage | 0.075% |  |  |  |  |
Line of Credit | Revolving Credit Facility | Minimum | London Interbank Offered Rate (LIBOR) | Subsequent Event |  |  |  |  |  |
Debt |  |  |  |  |  |
Variable rate, spread (as a percent) | 0.775% |  |  |  |  |
Commitment fee percentage | 0.125% |  |  |  |  |
Line of Credit | Revolving Credit Facility | Maximum | London Interbank Offered Rate (LIBOR) | Subsequent Event |  |  |  |  |  |
Debt |  |  |  |  |  |
Variable rate, spread (as a percent) | 1.45% |  |  |  |  |
Commitment fee percentage | 0.30% |  |  |  |  |
Loans payable |  |  |  |  |  |
Debt |  |  |  |  |  |
Deferred financing costs, net |  | 7,600,000 |  | 7,600,000 |  | 5,000,000
Fixed rate debt | Secured Debt |  |  |  |  |  |
Debt |  |  |  |  |  |
Carrying Value |  | 148,054,000 |  | 148,054,000 |  | 150,723,000
Unamortized premium included in carrying value |  | $ 298,000 |  | $ 298,000 |  | 349,000
Weighted average interest rate (as a percent) |  | 4.18% |  | 4.18% |  |
Fixed rate debt | Secured Debt | Minimum |  |  |  |  |  |
Debt |  |  |  |  |  |
Interest rate (as a percent) |  | 3.82% |  | 3.82% |  |
Fixed rate debt | Secured Debt | Maximum |  |  |  |  |  |
Debt |  |  |  |  |  |
Interest rate (as a percent) |  | 7.87% |  | 7.87% |  |
Variable-rate debt | Secured Debt |  |  |  |  |  |
Debt |  |  |  |  |  |
Carrying Value |  | $ 20,890,000 |  | $ 20,890,000 |  | 13,115,000
Weighted average interest rate (as a percent) |  | 4.20% |  | 4.20% |  |
Variable-rate debt | Secured Debt | Minimum | London Interbank Offered Rate (LIBOR) |  |  |  |  |  |
Debt |  |  |  |  |  |
Variable rate, spread (as a percent) |  |  |  | 1.85% |  |
Variable-rate debt | Secured Debt | Maximum | London Interbank Offered Rate (LIBOR) |  |  |  |  |  |
Debt |  |  |  |  |  |
Variable rate, spread (as a percent) |  |  |  | 2.35% |  |
Construction Loan | Secured Debt | London Interbank Offered Rate (LIBOR) |  |  |  |  |  |
Debt |  |  |  |  |  |
Remaining borrowing capacity |  | $ 100,700,000 |  | $ 100,700,000 |  |
Revolving Credit Facility |  |  |  |  |  |
Debt |  |  |  |  |  |
Carrying Value |  | $ 99,000,000 |  | $ 99,000,000 |  | 126,000,000
Weighted average interest rate (as a percent) |  | 3.37% |  | 3.37% |  |
Revolving Credit Facility | Minimum | London Interbank Offered Rate (LIBOR) |  |  |  |  |  |
Debt |  |  |  |  |  |
Variable rate, spread (as a percent) |  |  |  | 0.875% |  |
Revolving Credit Facility | Maximum | London Interbank Offered Rate (LIBOR) |  |  |  |  |  |
Debt |  |  |  |  |  |
Variable rate, spread (as a percent) |  |  |  | 1.60% |  |
Term Loan Facilities |  |  |  |  |  |
Debt |  |  |  |  |  |
Carrying Value |  | $ 348,298,000 |  | $ 348,298,000 |  | 347,959,000
Weighted average interest rate (as a percent) |  | 3.47% |  | 3.47% |  |
Aggregate additional borrowing capacity available |  | $ 350,000,000 |  | $ 350,000,000 |  |
Term Loan Facilities | Minimum | London Interbank Offered Rate (LIBOR) |  |  |  |  |  |
Debt |  |  |  |  |  |
Variable rate, spread (as a percent) |  |  |  | 0.90% |  |
Term Loan Facilities | Maximum | London Interbank Offered Rate (LIBOR) |  |  |  |  |  |
Debt |  |  |  |  |  |
Variable rate, spread (as a percent) |  |  |  | 1.85% |  |
3.600% Senior Notes | Unsecured senior notes |  |  |  |  |  |
Debt |  |  |  |  |  |
Carrying Value |  | 347,876,000 |  | $ 347,876,000 |  | 347,551,000
Debt instrument, face amount |  | $ 350,000,000 |  | $ 350,000,000 |  |
Interest rate (as a percent) |  | 3.60% |  | 3.60% |  |
Unamortized discount included in carrying value |  | $ 1,500,000 |  | $ 1,500,000 |  | 1,700,000
Effective interest rate on debt (as a percent) |  | 3.70% |  | 3.70% |  |
5.250% Senior Notes | Unsecured senior notes |  |  |  |  |  |
Debt |  |  |  |  |  |
Carrying Value |  | $ 247,011,000 |  | $ 247,011,000 |  | 246,645,000
Debt instrument, face amount |  | $ 250,000,000 |  | $ 250,000,000 |  |
Interest rate (as a percent) |  | 5.25% |  | 5.25% |  |
Unamortized discount included in carrying value |  | $ 2,700,000 |  | $ 2,700,000 |  | 3,000,000
Effective interest rate on debt (as a percent) |  | 5.49% |  | 5.49% |  |
3.700% Senior Notes | Unsecured senior notes |  |  |  |  |  |
Debt |  |  |  |  |  |
Carrying Value |  | $ 298,690,000 |  | $ 298,690,000 |  | 298,322,000
Debt instrument, face amount |  | $ 300,000,000 |  | $ 300,000,000 |  |
Interest rate (as a percent) |  | 3.70% |  | 3.70% |  |
Unamortized discount included in carrying value |  | $ 1,000,000 |  | $ 1,000,000 |  | 1,300,000
Effective interest rate on debt (as a percent) |  | 3.85% |  | 3.85% |  |
5.000% Senior Notes | Unsecured senior notes |  |  |  |  |  |
Debt |  |  |  |  |  |
Carrying Value |  | $ 297,013,000 |  | $ 297,013,000 |  | 296,731,000
Debt instrument, face amount |  | $ 300,000,000 |  | $ 300,000,000 |  |
Interest rate (as a percent) |  | 5.00% |  | 5.00% |  |
Unamortized discount included in carrying value |  | $ 2,500,000 |  | $ 2,500,000 |  | 2,700,000
Effective interest rate on debt (as a percent) |  | 5.15% |  | 5.15% |  |
Unsecured notes payable |  |  |  |  |  |
Debt |  |  |  |  |  |
Carrying Value |  | $ 1,198,000 |  | $ 1,198,000 |  | 1,287,000
Interest rate (as a percent) |  | 0.00% |  | 0.00% |  |
Unamortized discount included in carrying value |  | $ 313,000 |  | $ 313,000 |  | $ 373,000

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