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DEBT (Tables) | 12 Months Ended
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Dec. 31, 2021
Debt Disclosure [Abstract] |
Schedule of Debt | The following table shows the notes issued under both agreements.
| (in thousands) |  |
| Amount | Maturity Date | Interest Rate
Series A | $ | 75,000 |  | September 13, 2029 | 3.84 | %
Series B | $ | 50,000 |  | September 30, 2028 | 3.69 | %
Series C | $ | 50,000 |  | June 6, 2030 | 2.70 | %
Series 2021-A | $ | 35,000 |  | September 17, 2030 | 2.50 | %
Series 2021-B | $ | 50,000 |  | September 17, 2031 | 2.62 | %
Series 2021-C | $ | 25,000 |  | September 17, 2032 | 2.68 | %
Series 2021-D | $ | 15,000 |  | September 17, 2034 | 2.78 | %
The following table summarizes our indebtedness:
|  | (in thousands) |
|  | December 31, 2021 | December 31, 2020 |  | Weighted Average Maturity in Years
Lines of credit |  | $ | 76,000 |  | $ | 152,871 |  |  | 3.75
Term loans(1) |  | — |  | 145,000 |  |  |
Unsecured senior notes(1) |  | 300,000 |  | 125,000 |  |  | 8.63
Unsecured debt |  | 376,000 |  | 422,871 |  |  | 7.84
Mortgages payable - Fannie Mae credit facility |  | 198,850 |  | — |  |  | 9.56
Mortgages payable - other |  | 284,934 |  | 298,445 |  |  | 4.93
Total debt |  | $ | 859,784 |  | $ | 721,316 |  |  | 7.19
Annual Weighted Average Interest Rates |  |  |  |  |
Lines of credit (rate with swap) (2) |  | 2.74 | % | 2.85 | % |  |
Term loans (rate with swaps) |  | — |  | 4.15 | % |  |
Unsecured senior notes |  | 3.12 | % | 3.78 | % |  |
Mortgages payable - Fannie Mae credit facility |  | 2.78 | % | — |  |  |
Mortgages payable - other |  | 3.81 | % | 3.93 | % |  |
Total debt |  | 3.26 | % | 3.62 | % |  |
(1)Included within notes payable on our consolidated balance sheets. (2)The current rate on our line of credit is LIBOR plus 150 basis points. The LIBOR exposure on the line of credit as of December 31, 2021 was hedged using an interest rate swap with a notional of $75.0 million and a fixed rate of 2.81%. The interest rate swap was terminated in February 2022.
Aggregate Amount of Required Future Principal Payments on Mortgages Payable | The aggregate amount of required future principal payments on mortgages payable, notes payable, and lines of credit as of December 31, 2021 is as follows:
|  | (in thousands)
2022 |  | $ | 27,113 |
2023 |  | 45,067 |
2024 |  | 4,054 |
2025 |  | 108,850 |
2026 |  | 49,047 |
Thereafter |  | 625,653 |
Total payments |  | $ | 859,784 |

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