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Debt (Tables)
 12 Months Ended
Dec. 31, 2020
Debt Disclosure [Abstract]  
Schedule of Debt
As of December 31, 2020 and 2019, the Company had the following mortgages payable outstanding:
December 31, 2020December 31, 2019
Mortgages payable (a)$107,261 $176,051 
Discount, net of accumulated amortization(84)(121)
Debt issuance costs, net of accumulated amortization(449)(609)
Total mortgages payable, net$106,728 $175,321 
(a)Mortgages payable had fixed interest rates ranging from 3.49% to 4.58%, with a weighted average interest rate of 4.07% as of December 31, 2020, and 3.49% to 5.49%, with a weighted average interest rate of 4.34% as of December 31, 2019.
As of December 31, 2020 and 2019, the Company had the following borrowings outstanding under its unsecured term loans:
December 31, 2020December 31, 2019
Principal BalanceInterest RatePrincipal BalanceInterest RateMaturity Date
$250.0 million 5 year - swapped to fixed rate
$100,000 2.6795% (a)$100,000 2.6795% (a)December 21, 2023
$250.0 million 5 year - swapped to fixed rate
100,000 2.6795% (a)100,000 2.6795% (a)December 21, 2023
$250.0 million 5 year - variable rate
50,000 1.3548% (b)50,000 2.8911% (c)December 21, 2023
$150.0 million 5.5 year - swapped to fixed rate
50,000 2.6915% (a)50,000 2.6915% (a)June 21, 2024
$150.0 million 5.5 year - swapped to fixed rate
50,000 2.6990% (a)50,000 2.6690% (a)June 21, 2024
$150.0 million 5.5 year - variable rate
50,000 1.3548% (b)50,000 2.8911% (c)June 21, 2024
Total unsecured term loans400,000 400,000 
Issuance costs, net of accumulated amortization(1,619)(2,471)
Total outstanding credit agreements, net$398,381 $397,529 
(a)As of December 31, 2020, the Company has four interest rate swap agreements, of which two each have a notional amount of $100,000, an effective date of December 2, 2019, a termination date of December 21, 2023, and achieve a fixed interest rate of 2.68%. The other two interest rate swap agreements each have a notional amount of $50,000, an effective date of December 2, 2019, a termination date of June 21, 2024, and achieve fixed interest rates of 2.69% and 2.70%.
(b)Interest rate reflects 1-Month LIBOR plus 1.20% effective December 1, 2020.
(c)Interest rate reflects 1-Month LIBOR plus 1.20% as of December 2, 2019.
Schedule Of Maturities For Outstanding Mortgage Indebtedness
The following table shows the scheduled maturities of the Company's mortgages payable as of December 31, 2020:
Scheduled maturities by year:As of December 31, 2020
2021$— 
202222,834 
202340,097 
202415,700 
202528,630 
Thereafter— 
Total$107,261 
Schedule of Effect of Derivative Financial Instruments Included in AOCI
The following table represents the effect of the derivative financial instruments on the consolidated financial statements:
Location and amount of (loss) gain recognized in accumulated
comprehensive income		Location and amount of (loss) gain
reclassified from accumulated
comprehensive income into net (loss) income		Total interest expense presented in the consolidated statements of operations in which the effects of cash flow hedges are recorded
202020192018202020192018202020192018
Unrealized (loss) gain on derivatives$(16,199)816 923 Interest expense, net$(2,693)$1,396 956 Interest expense, net$18,749 $22,717 24,943 
Schedule of Location of Derivative Financial Instruments on Consolidated Financial Statements
The following table represents the effect of the derivative financial instruments on the consolidated financial statements:
Location and amount of (loss) gain recognized in accumulated
comprehensive income		Location and amount of (loss) gain
reclassified from accumulated
comprehensive income into net (loss) income		Total interest expense presented in the consolidated statements of operations in which the effects of cash flow hedges are recorded
202020192018202020192018202020192018
Unrealized (loss) gain on derivatives$(16,199)816 923 Interest expense, net$(2,693)$1,396 956 Interest expense, net$18,749 $22,717 24,943