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Debt (Tables)
6 Months Ended
Jun. 30, 2019
Debt Disclosure [Abstract]  
Schedule of debt
As of June 30, 2019 and December 31, 2018, the Company’s debt consisted of the following:
 
June 30, 2019
 
December 31, 2018
 
Contractual
Interest 
Rate (1)
 
Loan
Maturity
 
Effective Interest Rate (2)
HealthSpring Mortgage Loan
$
20,972

 
$
21,219

 
4.18%
 
 April 2023
 
4.61%
Midland Mortgage Loan
101,266

 
102,262

 
3.94%
 
April 2023
 
4.11%
Emporia Partners Mortgage Loan
2,332

 
2,554

 
5.88%
 
September 2023
 
5.99%
Samsonite
21,626

 
22,085

 
6.08%
 
 September 2023
 
5.17%
Highway 94 loan
16,058

 
16,497

 
3.75%
 
August 2024
 
4.70%
AIG Loan II
126,970

 

 
4.15%
 
November 2025
 
4.95%
BOA Loan
375,000

 
375,000

 
3.77%
 
October 2027
 
3.92%
BOA/KeyBank Loan
250,000

 

 
4.32%
 
May 2028
 
4.16%
AIG Loan
106,673

 
107,562

 
4.96%
 
February 2029
 
5.08%
Total Mortgage Debt
1,020,897

 
647,179

 
 
 
 
 
 
Revolving Credit Facility
175,939

 

 
LIBO Rate +1.30% (4)
 
June 2023(4)
 
3.85%
2023 Term Loan
200,000

 

 
LIBO Rate +1.25%
 
June 2023
 
3.77%
2024 Term Loan
400,000

 

 
LIBO Rate +1.25%
 
April 2024
 
3.76%
2026 Term Loan
150,000

 

 
LIBO Rate +1.65%
 
April 2026
 
4.14%
Term Loan

 
715,000

(3) 
 
 
Total Debt
1,946,836


1,362,179

 
 
 
 
 
 
Unamortized Deferred Financing Costs and Discounts, net
(11,247
)
 
(8,648
)
 
 
 
 
 
 
Total Debt, net
$
1,935,589

 
$
1,353,531

 
 
 
 
 
 
(1)
Including the effect of one interest rate swap agreement with a total notional amount of $425.0 million, the weighted average interest rate as of June 30, 2019 was 3.89% for both the Company’s fixed-rate and variable-rate debt combined and the Company’s fixed-rate debt only.
(2)
Reflects the effective interest rate as of June 30, 2019 and includes the effect of amortization of discounts/premiums and deferred financing costs.
(3)
Represents the Company's Unsecured Credit Facility (defined below), which was fully repaid on April 30, 2019. See discussion below.
(4)
The LIBO rate as of June 30, 2019 was 2.43%.The Revolving Credit Facility has an initial term of approximately three years, maturing on June 28, 2022, and may be extended for a one-year period if certain conditions are met and upon payment of an extension fee. See discussion below.