Corporate Indebtedness (Tables)

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Schedule of senior unsecured notes and other related disclosures by scheduled maturity date

The following table sets forth our senior unsecured notes and other related disclosures as of June 30, 2020 and December 31, 2019, respectively, by scheduled maturity date (dollars in thousands):

Issuance	June 30, 2020 Unpaid Principal Balance		June 30, 2020 Accreted Balance			December 31, 2019 Accreted Balance			Interest Rate (1)			Initial Term (in Years)	Maturity Date
August 7, 2018 (2) (3)	$	350,000	$	350,000		$	350,000			1.52	%	3	August 2021
October 5, 2017 (2)	500,000		499,749			499,695				3.25	%	5	October 2022
November 15, 2012 (4)	300,000		302,617			303,142				4.50	%	10	December 2022
December 17, 2015 (5)	100,000		100,000			100,000				4.27	%	10	December 2025
March 16, 2010 (6)	—		—			250,000
	$	1,250,000	$	1,252,366		$	1,502,837
Deferred financing costs, net			(4,877		)	(5,990		)
	$	1,250,000	$	1,247,489		$	1,496,847

(1) Interest rate as of June 30, 2020, taking into account interest rate hedges in effect during the period.

(2) Issued by the Operating Partnership with the Company as the guarantor.

(3) The notes are subject to redemption at the Company's option, in whole but not in part, at a redemption price equal to 100% of the principal amount of the notes, plus unpaid accrued interest thereon to the redemption date. In April 2020, the Company entered into $350.0 million of fixed rate interest swaps at a rate of 0.54375% through August 2021.

(4) In October 2017, the Company and the Operating Partnership as co-obligors issued an additional $100.0 million of 4.50% senior unsecured notes due December 2022. The notes were priced at 105.334% of par.

(5) Issued by the Company and the Operating Partnership as co-obligors.

(6)

In March 2020, the notes were repaid.

Schedule of combined aggregate principal maturities

Combined aggregate principal maturities of mortgages and other loans payable, the 2017 credit facility, trust preferred securities, senior unsecured notes and our share of joint venture debt as of June 30, 2020, including as-of-right extension options, were as follows (in thousands):

	Scheduled Amortization		Mortgages and Other Loans Payable		Revolving Credit Facility		Unsecured Term Loans		Trust Preferred Securities		Senior Unsecured Notes		Total		Joint Venture Debt
Remaining 2020	$	5,615	$	40,523	$	—	$	—	$	—	$	—	$	46,138	$	111,651
2021	11,631		238,882		—		—		—		350,000		600,513		985,979
2022	9,418		618,294		—		—		—		800,000		1,427,712		268,952
2023	7,288		560,000		950,000		1,300,000		—		—		2,817,288		311,436
2024	6,019		272,749		—		200,000		—		—		478,768		617,022
Thereafter	3,231		613,642		—		—		100,000		100,000		816,873		1,934,974
	$	43,202	$	2,344,090	$	950,000	$	1,500,000	$	100,000	$	1,250,000	$	6,187,292	$	4,230,014

Schedule of consolidated interest expense, excluding capitalized interest

Consolidated interest expense, excluding capitalized interest, was comprised of the following (in thousands):

	Three Months Ended June 30,						Six Months Ended June 30,
	2020			2019			2020			2019
Interest expense before capitalized interest	$	44,937		$	60,745		$	101,751		$	121,555
Interest on financing leases	2,149			808			3,812			1,612
Interest capitalized	(16,368		)	(12,019		)	(36,852		)	(22,528		)
Interest income	(648		)	(2,374		)	(1,147		)	(2,954		)
Interest expense, net	$	30,070		$	47,160		$	67,564		$	97,685