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Debt Obligations (Tables) | 6 Months Ended
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Jun. 30, 2017
Debt Disclosure [Abstract] |
Consolidated debt obligations | The following table sets forth information regarding the Company’s consolidated debt obligations outstanding at June 30, 2017 and December 31, 2016 (in thousands):
| June 30, 2017 |  |  | December 31, 2016 |  |  | Effective Interest Rate |  |  | Maturity Date |
MORTGAGE DEBT: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Two Logan Square | $ | 85,233 |  |  | $ | 86,012 |  |  |  | 3.98% |  |  | May 2020 |
One Commerce Square |  | 125,362 |  |  |  | 127,026 |  |  |  | 3.64% |  | (a) | Apr 2023 |
Two Commerce Square |  | 112,000 |  |  |  | 112,000 |  |  |  | 4.51% |  | (b) | Apr 2023 |
Principal balance outstanding |  | 322,595 |  |  |  | 325,038 |  |  |  |  |  |  |  |
Plus: fair market value premium (discount), net |  | (2,543 | ) |  |  | (2,761 | ) |  |  |  |  |  |  |
Less: deferred financing costs |  | (647 | ) |  |  | (728 | ) |  |  |  |  |  |  |
Mortgage indebtedness | $ | 319,405 |  |  | $ | 321,549 |  |  |  |  |  |  |  |
UNSECURED DEBT |  |  |  |  |  |  |  |  |  |  |  |  |  |
$600.0M Revolving Credit Facility | $ | 200,000 |  |  | $ | - |  |  | LIBOR + 1.20% |  |  | May 2019 |
Seven-Year Term Loan - Swapped to fixed |  | 250,000 |  |  |  | 250,000 |  |  |  | 3.72% |  |  | Oct 2022 |
$300.0M 5.70% Guaranteed Notes due 2017 (c) |  | - |  |  |  | 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) - Swapped to fixed |  | 27,062 |  |  |  | 27,062 |  |  |  | 2.75% |  |  | Mar 2035 |
Indenture IB (Preferred Trust I) - Swapped to fixed |  | 25,774 |  |  |  | 25,774 |  |  |  | 3.30% |  |  | Apr 2035 |
Indenture II (Preferred Trust II) - Swapped to fixed |  | 25,774 |  |  |  | 25,774 |  |  |  | 3.09% |  |  | Jul 2035 |
Principal balance outstanding |  | 1,603,610 |  |  |  | 1,703,610 |  |  |  |  |  |  |  |
Plus: original issue premium (discount), net |  | (4,178 | ) |  |  | (4,678 | ) |  |  |  |  |  |  |
Less: deferred financing costs |  | (6,665 | ) |  |  | (7,369 | ) |  |  |  |  |  |  |
Total unsecured indebtedness | $ | 1,592,767 |  |  | $ | 1,691,563 |  |  |  |  |  |  |  |
Total Debt Obligations | $ | 1,912,172 |  |  | $ | 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 scheduled maturity date 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 secured by 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 secured by One Commerce Square. This loan is also secured by a lien on One Commerce Square.
| (c) | On May 1, 2017, the entire principal balance of the unsecured 5.70% Guaranteed Notes was repaid upon maturity. Available cash balances and the Credit Facility (see below) were used to fund the repayment of the unsecured notes.

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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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