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Notes Payable and Revolving Lines of Credit (Tables)
 12 Months Ended
Dec. 31, 2018
Debt Disclosure [Abstract]  
Schedule of Components of Notes Payable
The components of notes payable are summarized as follows:
Notes Payable
December 31, 2018
 
December 31, 2017
 
Fixed Rate
 
Variable Rate
 
Basis Rate (2)
 
Maturity Dates
Secured fixed rate notes payable (1)
$
2,032,414

 
$
2,095,495

 
2.5% - 6.0%
 
 
 
 
 
February 2019 - February 2030
Secured variable rate notes payable (1)
834,735

 
717,979

 
 
 
3.9% - 4.1%
 
Libor plus 1.4% - 1.6%
 
May 2019 - August 2028
Unsecured fixed rate notes payable
990,000

 
600,000

 
3.4% - 4.4%
 
 
 
 
 
January 2024 - July 2028
Unsecured variable rate notes payable
310,000

 
350,000

 
 
 
3.8%
 
Libor plus 1.3%
 
October 2023 - January 2024
Total
4,167,149

 
3,763,474

 
 
 
 
 
 
 
 
Less: unamortized debt issuance costs
(29,936
)
 
(24,977
)
 
 
 
 
 
 
 
 
Total
$
4,137,213

 
$
3,738,497

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) The loans are collateralized by mortgages on real estate assets and the assignment of rents.
(2) 30-day USD LIBOR
 
 
 
 
 
 
 
 
 
 
 
Schedule of Maturities of Notes Payable
The following table summarizes the scheduled maturities of notes payable, excluding available extensions, at December 31, 2018:
 
 
2019
$
208,742

2020
699,522

2021
228,015

2022
294,948

2023
915,646

Thereafter
1,820,276

 
$
4,167,149
Schedule of Information on Lines of Credit
The following table presents information on the Company’s lines of credit, the proceeds of which are used to repay debt and for general corporate purposes, for the periods indicated:
 
As of December 31, 2018
 
 
 
 
 
 
Revolving Lines of Credit
Amount Drawn
 
Capacity
 
Interest Rate
 
Origination Date
 
Maturity
 
Basis Rate (1)
Credit Line 1 (2)
$
81,000

 
$
140,000

 
4.0%
 
6/4/2010
 
7/1/2021
 
LIBOR plus 1.5%
Credit Line 2 (3)(4)
—

 
650,000

 
3.6%
 
12/7/2018
 
1/29/2023
 
LIBOR plus 1.1%
 
$
81,000

 
$
790,000

 
 
 
 
 
 
 
 
(1) 30-day USD LIBOR
(2) Secured by mortgages on certain real estate assets. One two-year extension available.
(3) Unsecured. Two six-month extensions available.
(4) Basis Rate as of December 31, 2018. Rate is subject to change based on our consolidated leverage ratio.