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DEBT (Tables) | 6 Months Ended
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Jun. 30, 2022
Debt Disclosure [Abstract] |
Schedule of Debt | The following table shows the notes issued under both private shelf 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) |
| June 30, 2022 | December 31, 2021 | Weighted Average Maturity in Years at June 30, 2022
Lines of credit | $ | 73,000 |  | $ | 76,000 |  | 3.25
Unsecured senior notes (1) | 300,000 |  | 300,000 |  | 8.13
Unsecured debt | 373,000 |  | 376,000 |  | 7.18
Mortgages payable - Fannie Mae credit facility | 198,850 |  | 198,850 |  | 9.07
Mortgages payable - other | 302,360 |  | 284,934 |  | 5.47
Total debt | $ | 874,210 |  | $ | 859,784 |  | 6.96
Weighted average interest rate on lines of credit (rate with swap)(2) | 2.80 | % | 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 | 3.27 | % | 3.26 | % |
(1)Included within notes payable on the Condensed Consolidated Balance Sheets. (2)The interest rate swap was terminated in February 2022. Refer to Note 6 - Derivative Instruments for additional information.
Aggregate Amount of Required Future Principal Payments on Mortgages Payable | The aggregate amount of required future principal payments as of June 30, 2022, was as follows:
| (in thousands)
2022 (remainder) | $ | 2,808 |
2023 | 45,988 |
2024 | 5,012 |
2025 | 106,850 |
2026 | 50,088 |
Thereafter | 663,464 |
Total payments | $ | 874,210 |

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