Debt of the Operating Partnership (Tables)

6 Months Ended

Jun. 30, 2019

A summary of outstanding indebtedness of the operating partnership as of June 30, 2019 and December 31, 2018 is as follows (in thousands):



				June 30, 2019					December 31, 2018
Indebtedness	Stated Maturity Date	Contractual Interest Rate	Effective Interest Rate as of June 30, 2019	Carrying Amount			Estimated Fair Value		Carrying Amount			Estimated Fair Value
2013 Mortgage Loans
Senior note	5/2023	3.81%	4.14%	$	184,722		$	187,492	$	187,957		$	184,667
Mezzanine A	5/2023	7.38%	7.55%	70,000			70,350		70,000			67,900
Mezzanine B	5/2023	11.50%	11.75%	32,000			32,320		32,000			31,120
Total 2013 Mortgage Loans				286,722			290,162		289,957			283,687

Senior Unsecured Notes
Series A 4.68% notes due 2026	1/2026	4.68%	4.77%	200,000			215,000		200,000			202,500
Series B 4.86% notes due 2029	1/2029	4.86%	4.92%	400,000			433,000		400,000			407,000
Series C 4.10% notes due 2030	1/2030	4.10%	4.16%	350,000			361,375		—			—
Total Senior Unsecured Notes				950,000			1,009,375		600,000			609,500

2018 Senior Unsecured Term Loan A Facility⁽¹⁾	1/2023	L+1.45%	4.30%	475,000			476,188		475,000			472,625

Installment Notes Payable
New Market Tax Credit
Enterprise SUB-CDE XII, LLC	4/2045	1.00%	4.65%	4,100			4,100		—			—
Enterprise SUB-CDE XIX, LLC	4/2045	1.73%	4.63%	3,400			3,400		—			—
CIF III, LLC	4/2045	1.53%	4.66%	4,000			4,000		—			—
CNMC SUB-CDE 61, LLC	4/2045	1.00%	4.88%	1,800			1,800		—			—
Installment notes payable				13,300			13,300		—			—

Total principal amount of indebtedness				$	1,725,022		$	1,789,025	$	1,364,957		$	1,365,812
Less: deferred financing costs				(14,499		)	n/a		(13,943		)	n/a
Total indebtedness, net of unamortized deferred financing costs				$	1,710,523		$	1,789,025	$	1,351,014		$	1,365,812

2018 Senior Unsecured Revolving Credit Facility⁽¹⁾	1/2021	L+1.45%	0.36%	$	—		$	—	$	—		$	—

⁽¹⁾L = one-month LIBOR.

Schedule of aggregate maturities of total indebtedness

The aggregate maturities of the Company’s total indebtedness as of June 30, 2019, including amortization of principal amounts due under the term loan, senior unsecured notes, mortgage notes and installment notes for each of the next five years and thereafter, are as follows:



As of June 30, 2019:	(In thousands)
June 30, 2020	$	6,620
June 30, 2021	6,900
June 30, 2022	7,102
June 30, 2023	741,029
June 30, 2024	—
Thereafter	963,371
Aggregate principal amount of debt	1,725,022
Less unamortized deferred financing costs	(14,499		)
Total debt net of unamortized deferred financing costs	$	1,710,523