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DEBT (Tables) | 12 Months Ended
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Dec. 31, 2022
Debt Disclosure [Abstract] |
Schedule of Debt | The following table summarizes our indebtedness, excluding deferred financing costs:
|  | (in thousands) |
|  | December 31, 2022 | December 31, 2021 |  | Weighted Average Maturity in Years
Lines of credit |  | $ | 113,500 |  | $ | 76,000 |  |  | 2.75
Term loans(1) |  | 100,000 |  | — |  |  | 0.89
Unsecured senior notes(1) |  | 300,000 |  | 300,000 |  |  | 8.26
Unsecured debt |  | 513,500 |  | 376,000 |  |  | 6.15
Mortgages payable - Fannie Mae credit facility |  | 198,850 |  | 198,850 |  |  | 8.34
Mortgages payable - other(2) |  | 299,427 |  | 284,934 |  |  | 4.79
Total debt |  | $ | 1,011,777 |  | $ | 859,784 |  |  | 5.76
Annual Weighted Average Interest Rates |  |  |  |  |
Lines of credit (rate with swap)(3) |  | 4.12 | % | 2.74 | % |  |
Term loan |  | 5.57 | % | — |  |  |
Unsecured senior notes |  | 3.12 | % | 3.12 | % |  |
Mortgages payable - Fannie Mae credit facility |  | 2.78 | % | 2.78 | % |  |
Mortgages payable - other |  | 3.85 | % | 3.81 | % |  |
Total debt |  | 3.62 | % | 3.26 | % |  |
(1)Included within notes payable on our Consolidated Balance Sheets. (2)Net of fair value adjustments on acquisition of mortgage. (3)The interest rate swap was terminated in February 2022. Refer to Note 7 - Derivative Instruments for more information. The following table shows the notes issued under both agreements.
| (in thousands) |  |
| Amount | Maturity Date | Fixed 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 | %
Aggregate Amount of Required Future Principal Payments on Mortgages Payable | The aggregate amount of required future principal payments on lines of credit, notes payable, and mortgages payable, as of December 31, 2022 is as follows:
|  | (in thousands)
2023 |  | $ | 145,988 |
2024 |  | 5,012 |
2025 |  | 147,350 |
2026 |  | 50,088 |
2027 |  | 47,088 |
Thereafter |  | 616,251 |
Total payments |  | $ | 1,011,777 |

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