Debt (Tables)

3 Months Ended

Mar. 31, 2021

The Company’s outstanding indebtedness as of March 31, 2021 and December 31, 2020 is as follows (in thousands):


				March 31, 2021				December 31, 2020
Indebtedness	Stated Maturity Date	Contractual Interest Rate	Effective Interest Rate as of March 31, 2021	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
2013 Mortgage Loans
Senior note	5/2023	3.81%	4.14%	$	172,927	$	179,179	$	174,693	$	180,807
Mezzanine A	5/2023	7.38%	7.55%	70,000		72,100		70,000		71,925
Mezzanine B	5/2023	11.50%	11.75%	32,000		33,120		32,000		33,040
Total 2013 Mortgage Loans				274,927		284,399		276,693		285,772

Senior Unsecured Notes
Series A notes	1/2026	4.68%	4.77%	200,000		224,000		200,000		231,000
Series B notes	1/2029	4.86%	4.92%	400,000		449,000		400,000		475,000
Series C notes	1/2030	4.10%	4.15%	350,000		375,375		350,000		400,750
Series D notes(5)	1/2031	1.62%	1.67%	469,200		461,576		488,640		488,640
Series E notes(6)	1/2033	1.65%	1.70%	410,550		400,799		427,560		427,560
Total Senior Unsecured Notes				1,829,750		1,910,750		1,866,200		2,022,950

2020 Senior Unsecured Term Loan Tranche A-1(1)	3/2025	L+0.95%	1.43%	125,000		124,375		325,000		323,375
2020 Senior Unsecured Term Loan Tranche A-2(2)(4)	3/2025	C+0.95%	1.51%	199,025		198,030		196,325		195,343
Total 2020 Senior Unsecured Term Loan A Facility				324,025		322,405		521,325		518,718

Total principal amount of indebtedness				$	2,428,702	$	2,517,554	$	2,664,218	$	2,827,440
Less: unamortized deferred financing costs				(12,474)		n/a		(15,952)		n/a
Total indebtedness, net of unamortized deferred financing costs				$	2,416,228	$	2,517,554	$	2,648,266	$	2,827,440

2020 Senior Unsecured Revolving Credit Facility(3)(7)	3/2024	C+0.95%	1.53%	$	43,786	$	43,786	$	—	$	—

(1) L = one-month LIBOR.

(2) C = one-month CDOR.

(3) The Company has the option to extend the 2020 Senior Unsecured Revolving Credit Facility up to two times for a six-month period each.

(4) The 2020 Senior Unsecured Term Loan Tranche A-2 is denominated in Canadian dollars and aggregates to CAD $250.0 million. The carrying value in the table above is the US dollar equivalent as of March 31, 2021.

(5) The Senior Unsecured Notes Series D is denominated in Euros and aggregates to €400.0 million. The carrying value in the table above is the US dollar equivalent as of March 31, 2021.

(6) The Senior Unsecured Notes Series E is denominated in Euros and aggregates to €350.0 million. The carrying value in the table above is the US dollar equivalent as of March 31, 2021.

(7) The Senior Unsecured Revolving Credit Facility as of March 31, 2021, is denominated in CAD and aggregates to CAD $55.0 million. The carrying value in the table above is the US dollar equivalent as of March 31, 2021.

Schedule of aggregate maturities of total indebtedness

he aggregate maturities of the Company’s total indebtedness as of March 31, 2021, including amortization of principal amounts due under the mortgage notes, for each of the next five years and thereafter, are as follows:


As of March 31, 2021:	(In thousands)
March 31, 2022	$	7,102
March 31, 2023	7,381
March 31, 2024	260,454
March 31, 2025	324,025
March 31, 2026	200,000
Thereafter	1,629,740
Aggregate principal amount of debt	2,428,702
Less unamortized deferred financing costs	(12,474)
Total debt net of unamortized deferred financing costs	$	2,416,228