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Debt | 9 Months Ended
--- | ---
Sep. 30, 2019
Debt Disclosure [Abstract] |
Debt | Debt The Company had the following mortgages and notes payable outstanding as of September 30, 2019 and December 31, 2018:
| September 30, 2019 |  | December 31, 2018
Mortgages and notes payable | $ | 378,249 |  |  | $ | 575,514 |
Unamortized debt issuance costs | (3,706 | ) |  | (5,094 | )
| $ | 374,543 |  |  | $ | 570,420 |
Interest rates, including imputed rates on mortgages and notes payable, ranged from 3.5% to 6.5% and 2.2% and 6.5% at September 30, 2019 and December 31, 2018, respectively, and all mortgages and notes payables mature between 2019 and 2036 as of September 30, 2019. The weighted-average interest rate was 4.6% and 4.5% at September 30, 2019 and December 31, 2018, respectively. As of September 30, 2019, the Company had two non-recourse mortgage loans that were in default with an outstanding aggregate principal balance of $38,942. Each mortgage loan is secured by an office property (Overland Park, Kansas and Charleston, South Carolina), which was vacant or mostly vacant at September 30, 2019. The Company had the following senior notes outstanding as of September 30, 2019 and December 31, 2018:
Issue Date |  | September 30, 2019 |  | December 31, 2018 |  | Interest Rate |  | Maturity Date |  | Issue Price
May 2014 |  | $ | 250,000 |  |  | $ | 250,000 |  |  | 4.40 | % |  | June 2024 |  | 99.883 | %
June 2013 |  | 250,000 |  |  | 250,000 |  |  | 4.25 | % |  | June 2023 |  | 99.026 | %
|  | 500,000 |  |  | 500,000 |  |  |  |  |  |  |
Unamortized debt discount |  | (1,031 | ) |  | (1,235 | ) |  |  |  |  |  |
Unamortized debt issuance cost |  | (2,308 | ) |  | (2,731 | ) |  |  |  |  |  |
|  | $ | 496,661 |  |  | $ | 496,034 |  |  |  |  |  |  |
Each series of the senior notes is unsecured and requires payment of interest semi-annually in arrears. The Company may redeem the notes at its option at any time prior to maturity in whole or in part by paying the principal amount of the notes being redeemed plus a premium. The Company has an unsecured credit agreement with KeyBank National Association, as agent. A summary of the significant terms, as of September 30, 2019, is as follows:
| Maturity Date |  | Current Interest Rate
$600,000 Revolving Credit Facility(1) | February 2023 |  | LIBOR + 0.90%
$300,000 Term Loan(1)(2) | January 2025 |  | LIBOR + 1.00%
(1) | In February 2019, the Company replaced its revolving credit facility and the $300,000 term loan with a new revolving credit facility and the continuation of the $300,000 term loan (the “2019 Credit Agreement”). The 2019 Credit Agreement, among other things: (i) increased the total commitment of the revolving credit facility from $505,000 under the previous credit facility to $600,000 under the 2019 Credit Agreement; (ii) extended the maturity date of the revolving credit facility from August 2019 to February 2023 and allowed for the extension to February 2024 at the Company's option; and (iii) reduced the applicable margin rates. In July 2019, the Company extended the maturity of the $300,000 term loan from January 2021 to January 2025 and swapped the LIBOR portion of the interest rate to obtain a current fixed rate of 2.732% per annum. The Company recognized $93 of debt satisfaction charges in connection with these transactions.
At September 30, 2019, the revolving credit facility had no borrowings outstanding and availability of $600,000, subject to covenant compliance.
(2) | The aggregate unamortized debt issuance costs for the term loan was $2,687 and $1,267 as of September 30, 2019 and December 31, 2018, respectively.
The Company was compliant with all applicable financial covenants contained in its corporate-level debt agreements at September 30, 2019. During 2007, the Company issued $200,000 original principal amount of Trust Preferred Securities. The Trust Preferred Securities, which are classified as debt, are due in 2037, are open for redemption at the Company's option, bore interest at a fixed rate of 6.804% through April 2017 and bear interest at a variable rate of three month LIBOR plus 170 basis points through maturity. The interest rate at September 30, 2019 was 3.966%. As of September 30, 2019 and December 31, 2018, there was $129,120 original principal amount of Trust Preferred Securities outstanding and $1,749 and $1,824, respectively, of unamortized debt issuance costs. Capitalized interest recorded during the nine months ended September 30, 2019 and 2018 was $251 and $15, respectively.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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