Notes and Bonds Payable

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Notes and Bonds Payable

Notes and Bonds Payable

The table below details the Company’s notes and bonds payable as of June 30, 2023 and December 31, 2022. 

	MATURITY DATES	BALANCE 1 AS OF				EFFECTIVE INTEREST RATE as of 6/30/2023
Dollars in thousands		6/30/2023		12/31/2022
$1.5 billion Unsecured Credit Facility	10/25	$	354,000	$	385,000	6.05	%
$350 million Unsecured Term Loan 2	7/24	349,499		349,114		6.21	%
$200 million Unsecured Term Loan	5/24	199,786		199,670		6.21	%
$300 million Unsecured Term Loan	10/25	299,947		299,936		6.21	%
$150 million Unsecured Term Loan	6/26	149,569		149,495		6.21	%
$200 million Unsecured Term Loan	7/27	199,432		199,362		6.21	%
$300 million Unsecured Term Loan	1/28	298,079		297,869		6.21	%
Senior Notes due 2025	5/25	249,298		249,115		4.12	%
Senior Notes due 2026	8/26	575,256		571,587		4.94	%
Senior Notes due 2027	7/27	481,615		479,553		4.76	%
Senior Notes due 2028	1/28	297,138		296,852		3.85	%
Senior Notes due 2030	2/30	570,356		565,402		5.30	%
Senior Notes due 2030	3/30	296,579		296,385		2.72	%
Senior Notes due 2031	3/31	295,795		295,547		2.25	%
Senior Notes due 2031	3/31	640,999		632,693		5.13	%
Mortgage notes payable	8/23-12/26	82,924		84,247		3.57%-4.84%
		$	5,340,272	$	5,351,827

.

1Balance is presented net of discounts and issuance costs and inclusive of premiums, where applicable.

2On April 26, 2023, the Company exercised its option to extend the maturity date for one year for a fee of approximately $0.4 million.

Subsequent Changes in Debt Structure

On August 1, 2023, the Company repaid in full at maturity a mortgage note payable bearing interest at a rate of 3.31% per annum with an outstanding principal of $9.8 million. The mortgage note encumbered a 66,984 square foot property in Georgia.