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Debt (Tables) | 9 Months Ended
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Sep. 30, 2022
Notes and Loans Payable [Abstract] |
Schedule of Debt | The following table summarizes the Company's debt as of September 30, 2022 and December 31, 2021:
|  |  | Interest Rate Type |  | As of September 30, 2022 |  | As of December 31, 2021
| Maturity Date |  |  | Interest Rate |  | Amount |  | Interest Rate |  | Amount
Mortgages Payable |  |  |  |  |  |  |  |  |  |  |
Total mortgages payable | Various |  | Fixed |  | 3.95% (a) |  | $ | 163,260 |  |  | 4.07% (a) |  | $ | 105,955 |
Term Loans |  |  |  |  |  |  |  |  |  |  |
$200.0 million 5 years | 9/22/2026 |  | Fixed |  | 2.68% (b) |  | 100,000 |  |  | 2.68% (b) |  | 100,000 |
$200.0 million 5 years | 9/22/2026 |  | Fixed |  | 2.68% (b) |  | 100,000 |  |  | 2.68% (b) |  | 100,000 |
$200.0 million 5.5 years | 3/22/2027 |  | Fixed |  | 2.69% (b) |  | 50,000 |  |  | 2.69% (b) |  | 50,000 |
$200.0 million 5.5 years | 3/22/2027 |  | Fixed |  | 2.70% (b) |  | 50,000 |  |  | 2.70% (b) |  | 50,000 |
$200.0 million 5.5 years | 3/22/2027 |  | Variable |  | 1M SOFR + 1.30% (c) |  | 100,000 |  |  | 1M LIBOR + 1.20% (c) |  | 100,000 |
Total |  |  |  |  |  |  | 400,000 |  |  |  |  | 400,000 |
Senior Notes |  |  |  |  |  |  |  |  |  |  |
$150.0 million | 8/11/2029 |  | Fixed |  | 5.07% |  | 150,000 |  |  | - |  | — |
$100.0 million | 8/11/2032 |  | Fixed |  | 5.20% |  | 100,000 |  |  | - |  | — |
Total |  |  |  |  |  |  | 250,000 |  |  |  |  | — |
Revolving Line of Credit |  |  |  |  |  |  |  |  |  |  |
$350.0 million total capacity | 9/22/2025 |  | Variable |  | 1M SOFR + 1.14% (c) |  | — |  |  | 1M LIBOR + 1.05% (c) |  | 31,000 |
Total debt |  |  |  |  | 3.89% |  | 813,260 |  |  | 2.61% |  | 536,955 |
Debt discounts and issuance costs, net |  | (5,621) |  |  |  |  | (3,873) |
Debt, net |  |  |  |  |  |  | $ | 807,639 |  |  |  |  | $ | 533,082 |
(a)Interest rates reflect the weighted average of the Company's mortgages payable. (b)Interest rates reflect the fixed rates effectively achieved through the Company's interest rate swaps. (c)As of September 30, 2022 and December 31, 2021, 1-Month Term SOFR was 3.0421% and 1-Month LIBOR was 0.1013%, respectively.
Schedule of Maturities for Outstanding Mortgage Indebtedness | The following table summarizes the scheduled maturities of the Company's mortgages payable as of September 30, 2022 for the remainder of 2022, each of the next four years and thereafter.
Scheduled maturities by year: | As of September 30, 2022
2022 | $ | — |
2023 | 38,550 |
2024 | 15,700 |
2025 | 51,510 |
2026 | — |
Thereafter | 57,500 |
Total mortgage payable maturities | $ | 163,260 |

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