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Debt (Tables)

9 Months Ended

Sep. 30, 2020

Debt Disclosure [Abstract]

Schedule of Debt

Debt consisted of the following as of the dates indicated (in thousands):

Description						September 30, 2020						December 31, 2019
Fixed rate notes
$10.5 million, 4.85% Note, due September 24, 2020 (1)						$	—					$	9,260
$100.0 million, 1.73% plus 1.35% to 1.90% Note, due October 30, 2022 (2)						100,000						100,000
$165.0 million, 2.24% plus 1.35% to 1.90% Note, due January 31, 2024 (3)						165,000						165,000
$80.0 million, 3.72% Note, due June 1, 2027						80,000						80,000
$19.0 million 4.15% Note, due December 1, 2024						18,768						19,000
$20.2 million 4.28% Note, due June 6, 2023						18,323						18,616
$14.0 million 4.34% Note, due September 11, 2024						13,300						13,482
$14.3 million 4.34% Note, due September 11, 2024						14,073						14,243
$15.1 million 4.99% Note, due January 6, 2024						14,228						14,409
$2.6 million 5.46% Note, due October 1, 2023						2,351						2,386
$50.0 million, 5.09% Note, due March 22, 2029						50,000						50,000
$50.0 million, 5.17% Note, due March 22, 2029						50,000						50,000
$1.7 million 1.00% Note, due May 6, 2022						1,734						—
$1.1 million 4.53% Note, due November 28, 2020						270						—
Floating rate notes
Unsecured line of credit, LIBOR plus 1.40% to 1.90%, due January 31, 2023						139,500						109,500
Total notes payable principal						667,547						645,896
Less deferred financing costs, net of accumulated amortization						(1,031)						(1,197)
Total notes payable						$	666,516					$	644,699

(1)     Promissory note includes an interest rate swap that fixed the interest rate at 3.55% for the duration of the term through September 24, 2018 and 4.85% beginning September 25, 2018 through September 24, 2020. The promissory note was paid off in September 2020.

(2)    Promissory note includes an interest rate swap that fixed the LIBOR portion of the interest rate at 1.73%.

(3)     Promissory note includes an interest rate swap that fixed the LIBOR portion of the interest rate at an average rate of 2.24% for the duration of the term through January 31, 2024.

Schedule of Maturities of Debt

Scheduled maturities of our outstanding debt as of September 30, 2020 were as follows (in thousands):

Year						Amount Due
2020 (remaining)						$	964
2021						2,762
2022						102,170
2023						167,363
2024						228,573
Thereafter						165,715
Total						$	667,547

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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.

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Tabular disclosure of maturity and sinking fund requirement for long-term debt.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601

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