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DEBT (Tables) | 3 Months Ended
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Mar. 31, 2022
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 indebtedness:
| (in thousands) |
| March 31, 2022 | December 31, 2021 | Weighted Average Maturity in Years at March 31, 2022
Lines of credit | $ | 46,000 |  | $ | 76,000 |  | 3.75
Unsecured senior notes (1) | 300,000 |  | 300,000 |  | 8.63
Unsecured debt | 346,000 |  | 376,000 |  | 7.98
Mortgages payable - Fannie Mae credit facility | 198,850 |  | 198,850 |  | 9.56
Mortgages payable - other | 326,113 |  | 284,934 |  | 6.71
Total debt | $ | 870,963 |  | $ | 859,784 |  | 7.14
Weighted average interest rate on lines of credit (rate with swap)(2) | 2.56 | % | 2.74 | % |
Weighted average interest rate on unsecured senior notes | 3.12 | % | 3.12 | % |
Weighted average interest rate on mortgages payable - Fannie Mae credit facility | 2.78 | % | 2.78 | % |
Weighted average interest rate on mortgages payable - other | 3.85 | % | 3.81 | % |
Weighted average interest rate on total debt | 3.29 | % | 3.26 | % |
(1)Included within notes payable on the Condensed Consolidated Balance Sheets. (2)The interest rate swap was terminated during the three months ended March 31, 2022.
Aggregate Amount of Required Future Principal Payments on Mortgages Payable | The aggregate amount of required future principal payments on unsecured senior notes and mortgages payable as of March 31, 2022, was as follows:
| (in thousands)
2022 (remainder) | $ | 26,443 |
2023 | 45,988 |
2024 | 5,012 |
2025 | 79,850 |
2026 | 50,088 |
Thereafter | 663,582 |
Total payments | $ | 870,963 |

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