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Mortgages and Notes Payable (Tables)

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

The Company had the following mortgages and notes payable outstanding as of December 31, 2018 and 2017:

	December 31, 2018				December 31, 2017
Mortgages and notes payable	$	575,514			$	697,068
Unamortized debt issuance costs	(5,094		)		(7,258		)
	$	570,420			$	689,810

Schedule of Line of Credit Facilities

A summary of the significant terms, as of December 31, 2018, are as follows:

	Maturity Date		Interest Rate
$505,000 Revolving Credit Facility(1)	August 2019		LIBOR + 1.00%
$300,000 Term Loan(2)(3)	January 2021		LIBOR + 1.10%

(1) Maturity date can be extended to August 2020 at the Company's option. The interest rate ranges from LIBOR plus 0.85% to 1.55%. At December 31, 2018, the revolving credit facility had no borrowings outstanding and availability of $505,000, subject to covenant compliance. See note 20.

(2) The interest rate ranges from LIBOR plus 0.90% to 1.75%. The Company had aggregate interest-rate swap agreements to fix the LIBOR component at a weighted-average rate of 1.42% through January 2019 on $255,000 of the $300,000 outstanding LIBOR-based borrowings. During 2018, the Company satisfied in full the $300,000 term loan due in 2020.

(3) The aggregate unamortized debt issuance costs for the term loan was $1,267 and $1,804 as of December 31, 2018 and 2017, respectively.

Schedule of Maturities of Long-term Debt

Scheduled principal and balloon payments for mortgages, notes payable and term loan for the next five years and thereafter are as follows:

Year ending December 31,		Total
2019		$	101,887
2020		55,143
2021		340,465
2022		22,120
2023		23,998
Thereafter		331,901
		875,514
Unamortized debt issuance costs		(6,361		)
		$	869,153

Scheduled principal payments for these debt instruments for the next five years and thereafter are as follows:

Year ending December 31,		Total
2019		$	—
2020		—
2021		—
2022		—
2023		250,000
Thereafter		379,120
		629,120
Unamortized debt discounts		(1,235		)
Unamortized debt issuance costs		(4,555		)
		$	623,330

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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.

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