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Debt Obligations (Tables) | 6 Months Ended
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Jun. 30, 2020
Debt Disclosure [Abstract] |
Consolidated debt obligations | The following table sets forth information regarding the Company’s consolidated debt obligations outstanding as of June 30, 2020 and December 31, 2019 (in thousands):
| June 30, 2020 |  | December 31, 2019 |  | Effective Interest Rate |  | Maturity Date
MORTGAGE DEBT: |  |  |  |  |  |  |
Two Logan Square | $ | 80,226 |  |  | $ | 81,103 |  |  | 3.98% |  | August 2020
Four Tower Bridge | 9,169 |  |  | 9,291 |  |  | 4.50% |  | February 2021
One Commerce Square (a) | 114,715 |  |  | 116,571 |  |  | 3.64% |  | April 2023
Two Commerce Square (a) | 107,418 |  |  | 108,472 |  |  | 4.51% |  | April 2023
Principal balance outstanding | 311,528 |  |  | 315,437 |  |  |  |  |
Plus: fair market value premium (discount), net | (1,195 | ) |  | (1,383 | ) |  |  |  |
Less: deferred financing costs | (178 | ) |  | (242 | ) |  |  |  |
Mortgage indebtedness | $ | 310,155 |  |  | $ | 313,812 |  |  |  |  |
Assets held for sale - mortgage indebtedness, net (a) | (220,720 | ) |  | — |  |  |  |  |
Total mortgage indebtedness | $ | 89,435 |  |  | $ | 313,812 |  |  |  |  |
UNSECURED DEBT |  |  |  |  |  |  |
$600 million Unsecured Credit Facility | $ | 61,000 |  |  | $ | — |  |  | LIBOR + 1.10% |  | July 2022
Seven-Year Term Loan - Swapped to fixed | 250,000 |  |  | 250,000 |  |  | 2.87% |  | October 2022
$350.0M 3.95% Guaranteed Notes due 2023 | 350,000 |  |  | 350,000 |  |  | 3.87% |  | February 2023
$350.0M 4.10% Guaranteed Notes due 2024 | 350,000 |  |  | 350,000 |  |  | 3.78% |  | October 2024
$450.0M 3.95% Guaranteed Notes due 2027 | 450,000 |  |  | 450,000 |  |  | 4.03% |  | November 2027
$350.0M 4.55% Guaranteed Notes due 2029 | 350,000 |  |  | 350,000 |  |  | 4.30% |  | October 2029
Indenture IA (Preferred Trust I) | 27,062 |  |  | 27,062 |  |  | LIBOR + 1.25% |  | March 2035
Indenture IB (Preferred Trust I) - Swapped to fixed | 25,774 |  |  | 25,774 |  |  | 3.30% |  | April 2035
Indenture II (Preferred Trust II) | 25,774 |  |  | 25,774 |  |  | LIBOR + 1.25% |  | July 2035
Principal balance outstanding | 1,889,610 |  |  | 1,828,610 |  |  |  |  |
Plus: original issue premium (discount), net | 11,114 |  |  | 12,090 |  |  |  |  |
Less: deferred financing costs | (9,124 | ) |  | (10,094 | ) |  |  |  |
Total unsecured indebtedness | $ | 1,891,600 |  |  | $ | 1,830,606 |  |  |  |  |
Total Debt Obligations | $ | 1,981,035 |  |  | $ | 2,144,418 |  |  |  |  |
(a) The properties encumbered by these mortgages were classified as held for sale as of June 30, 2020 and, given that these debt obligations will remain with the properties after the transaction, they are included in "Liabilities related to assets held for sale, net" on the consolidated balance sheets as of June 30, 2020.
Schedule of maturities of long-term debt | As of June 30, 2020, the Company’s aggregate scheduled principal payments of debt obligations are as follows (in thousands):
2020 (six months remaining) | $ | 83,317 |
2021 | 15,143 |
2022 | 317,332 |
2023 | 556,736 |
2024 | 350,000 |
Thereafter | 878,610 |
Total principal payments | 2,201,138 |
Net unamortized premiums/(discounts) | 9,918 |
Net deferred financing costs | (9,301 | )
Outstanding indebtedness | 2,201,755 |
Assets held for sale - mortgage indebtedness, net (a) | (220,720 | )
Outstanding indebtedness less liabilities of assets held for sale | $ | 1,981,035 |
(a) Included in the table above are principal payments of $3.0 million for 2020, $6.1 million for 2021, $6.3 million for 2022, $206.7 million for 2023, an unamortized discount of $1.2 million and deferred financing costs of $0.2 million related to One Commerce Square and Two Commerce Square, which were classified as held for sale as of June 30, 2020.

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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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