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Debt Obligations (Tables) | 3 Months Ended
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Mar. 31, 2017
Debt Disclosure [Abstract] |
Consolidated debt obligations | The following table sets forth information regarding the Company’s consolidated debt obligations outstanding at March 31, 2017 and December 31, 2016 (in thousands):
| March 31, 2017 |  |  | December 31, 2016 |  |  | Effective Interest Rate |  |  | Maturity Date |
MORTGAGE DEBT: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Two Logan Square | $ | 85,625 |  |  | $ | 86,012 |  |  |  | 3.98 | % |  | May 2020 |
One Commerce Square |  | 126,198 |  |  |  | 127,026 |  |  |  | 3.64 | % | (a) | Apr 2023 |
Two Commerce Square |  | 112,000 |  |  |  | 112,000 |  |  |  | 4.51 | % | (b) | Apr 2023 |
Principal balance outstanding |  | 323,823 |  |  |  | 325,038 |  |  |  |  |  |  |  |
Plus: fair market value premium (discount), net |  | (2,652 | ) |  |  | (2,761 | ) |  |  |  |  |  |  |
Less: deferred financing costs |  | (687 | ) |  |  | (728 | ) |  |  |  |  |  |  |
Mortgage indebtedness | $ | 320,484 |  |  | $ | 321,549 |  |  |  |  |  |  |  |
UNSECURED DEBT |  |  |  |  |  |  |  |  |  |  |  |  |  |
Seven-Year Term Loan - Swapped to fixed | $ | 250,000 |  |  | $ | 250,000 |  |  |  | 3.72 | % |  | Oct 2022 |
$300.0M 5.70% Guaranteed Notes due 2017 |  | 300,000 |  |  |  | 300,000 |  |  |  | 5.68 | % |  | May 2017 |
$325.0M 4.95% Guaranteed Notes due 2018 |  | 325,000 |  |  |  | 325,000 |  |  |  | 5.13 | % |  | Apr 2018 |
$250.0M 3.95% Guaranteed Notes due 2023 |  | 250,000 |  |  |  | 250,000 |  |  |  | 4.02 | % |  | Feb 2023 |
$250.0M 4.10% Guaranteed Notes due 2024 |  | 250,000 |  |  |  | 250,000 |  |  |  | 4.33 | % |  | Oct 2024 |
$250.0M 4.55% Guaranteed Notes due 2029 |  | 250,000 |  |  |  | 250,000 |  |  |  | 4.60 | % |  | Oct 2029 |
Indenture IA (Preferred Trust I) |  | 27,062 |  |  |  | 27,062 |  |  |  | 2.75 | % |  | Mar 2035 |
Indenture IB (Preferred Trust I) |  | 25,774 |  |  |  | 25,774 |  |  |  | 3.30 | % |  | Apr 2035 |
Indenture II (Preferred Trust II) |  | 25,774 |  |  |  | 25,774 |  |  |  | 3.09 | % |  | Jul 2035 |
Principal balance outstanding |  | 1,703,610 |  |  |  | 1,703,610 |  |  |  |  |  |  |  |
Plus: original issue premium (discount), net |  | (4,424 | ) |  |  | (4,678 | ) |  |  |  |  |  |  |
Less: deferred financing costs |  | (6,999 | ) |  |  | (7,369 | ) |  |  |  |  |  |  |
Total unsecured indebtedness | $ | 1,692,187 |  |  | $ | 1,691,563 |  |  |  |  |  |  |  |
Total Debt Obligations | $ | 2,012,671 |  |  | $ | 2,013,112 |  |  |  |  |  |  |  |
| (a) | This loan was assumed upon acquisition of the related properties on December 19, 2013. On December 29, 2015, the Company refinanced the debt increasing the principal balance to $130.0 million and extended the term of the scheduled maturity from January 6, 2016 to April 5, 2023. The effective interest rate as of December 31, 2015 was 3.64%. A default under this loan will also constitute a default under the loan outstanding on Two Commerce Square. This loan is also secured by a lien on Two Commerce Square.
| (b) | This loan was assumed upon acquisition of the related property on December 19, 2013. The interest rate reflects the market rate at the time of acquisition. A default under this loan will also constitute a default under the loan outstanding on One Commerce Square. This loan is also secured by a lien on One Commerce Square.

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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