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Unsecured and Secured Indebtedness (Tables)

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Summary of Unsecured and Secured Indebtedness

The following table discloses certain information regarding the Company’s unsecured and secured indebtedness (in millions):

		Carrying Value at December 31,								Interest Rate(A) at December 31,								Maturity Date at
		2018				2017				2018				2017				December 31, 2018
Unsecured indebtedness:
Senior notes(B)		$	1,660.0			$	2,832.2			3.375%–4.700%				3.375%–7.500%				July 2022– June 2027
Senior notes – discount, net			(4.3	)			(5.1	)
Net unamortized debt issuance costs			(9.7	)			(17.0	)
Total Senior Notes		$	1,646.0			$	2,810.1
Unsecured Term Loan		$	50.0			$	400.0			3.9%				2.9%				January 2023
Net unamortized debt issuance costs			(0.3	)			(1.9	)
Total Unsecured Term Loan		$	49.7			$	398.1
Secured indebtedness:
Mortgage indebtedness – Fixed Rate		$	89.0			$	643.4			5.9%				4.7%				April 2020– January 2022
Net unamortized debt issuance costs			(0.3	)			(2.3	)
Total Mortgage Indebtedness		$	88.7			$	641.1

(A) The interest rates reflected above for the senior notes represent the range of the coupon rate of the notes outstanding.  All other interest rates presented are a weighted average of the outstanding debt.  Interest rate on variable-rate debt was calculated using the base rate and spreads in effect at December 31, 2018 and 2017.

(B) Effective interest rates ranged from 3.5% to 4.8% at December 31, 2018.

Schedule Principal Payments

The scheduled principal payments of the Revolving Credit Facilities (Note 8) and unsecured and secured indebtedness, excluding extension options, as of December 31, 2018, are as follows (in thousands):

Year		Amount
2019		$	2,372
2020			41,684
2021			143,412
2022			201,366
2023			136,977
Thereafter			1,367,343
			1,893,154
Unamortized fair market value of assumed debt			1,546
Net unamortized debt issuance costs			(10,295	)
Total indebtedness		$	1,884,405

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Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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