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Debt (Tables) | 3 Months Ended
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Mar. 31, 2022
Notes and Loans Payable [Abstract] |
Schedule of Debt | The following table summarizes the Company's debt as of March 31, 2022 and December 31, 2021:
|  |  | Interest Rate Type |  | As of March 31, 2022 |  | As of December 31, 2021
| Maturity Date |  |  | Interest Rate |  | Amount |  | Interest Rate |  | Amount
Mortgages Payable |  |  |  |  |  |  |  |  |  |  |
Total mortgages payable | Various |  | Fixed |  | 3.9600% |  | $ | 140,829 |  |  | 4.0700% |  | $ | 105,955 |
Term loans |  |  |  |  |  |  |  |  |  |  |
$200.0 million 5 years | 9/22/2026 |  | Fixed |  | 2.6795% (a) |  | 100,000 |  |  | 2.6795% (a) |  | 100,000 |
$200.0 million 5 years | 9/22/2026 |  | Fixed |  | 2.6795% (a) |  | 100,000 |  |  | 2.6795% (a) |  | 100,000 |
$200.0 million 5.5 years | 3/22/2027 |  | Fixed |  | 2.6915% (a) |  | 50,000 |  |  | 2.6915% (a) |  | 50,000 |
$200.0 million 5.5 years | 3/22/2027 |  | Fixed |  | 2.6990% (a) |  | 50,000 |  |  | 2.6990% (a) |  | 50,000 |
$200.0 million 5.5 years | 3/22/2027 |  | Variable |  | 1M LIBOR + 1.20% (b) |  | 100,000 |  |  | 1M LIBOR + 1.20% (b) |  | 100,000 |
Total |  |  |  |  |  |  | 400,000 |  |  |  |  | 400,000 |
Revolving Line of Credit |  |  |  |  |  |  |  |  |  |  |
$350.0 million total capacity | 9/22/2025 (d) |  | Variable |  | 1M LIBOR + 1.04% (b) (c) |  | 136,000 |  |  | 1M LIBOR + 1.05% (b) |  | 31,000 |
Total debt |  |  |  |  | 2.5587% |  | 676,829 |  |  | 2.6122% |  | 536,955 |
Debt discounts and issuance costs, net of accumulated amortization |  | (3,493) |  |  |  |  | (3,873) |
Debt, net |  |  |  |  |  |  | $ | 673,336 |  |  |  |  | $ | 533,082 |
(a)Interest rates reflect the fixed rates achieved through the Company's interest rate swaps. (b)As of March 31, 2022 and December 31 2021, 1-Month LIBOR was 0.4520% and 0.1013%, respectively. (c)For the year ending December 31, 2022, the Company qualified for a 0.01% sustainability adjustment. (d)Maturity date is not inclusive of two six-month extension options.
Schedule of Maturities for Outstanding Mortgage Indebtedness | The following table summarizes the scheduled maturities of the Company's mortgages payable as of March 31, 2022 for the remainder of 2022, each of the next four years and thereafter.
Scheduled maturities by year: | As of March 31, 2022
2022 | $ | — |
2023 | 38,999 |
2024 | 15,700 |
2025 | 28,630 |
2026 | — |
Thereafter | 57,500 |
Total mortgage payable maturities | $ | 140,829 |

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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- Definition Tabular disclosure of the terms and amounts of participation in loan arrangements. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=99377297&loc=d3e10013-112621 + Details
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