Debt (Tables)

12 Months Ended

Dec. 31, 2019

Debt

Summary of outstanding indebtedness

A summary of outstanding indebtedness as of December 31, 2019, and 2018, is as follows (in thousands):

		Maturity	December 31,		December 31,
	Interest Rate	Date	2019		2018
Revolving credit facility	3.01% and 3.95% at December 31, 2019, and December 31, 2018, respectively	November 8, 2023	$	62,500	$	211,500
2020 Senior unsecured term loan	3.37% at December 31, 2018	—		—		150,000
2021 Senior unsecured term loan	3.90% at December 31, 2018	—		—		100,000
2022 Senior unsecured term loan	2.96% and 3.65% at December 31, 2019, and December 31, 2018, respectively	April 19, 2022		200,000		200,000
2023 Senior unsecured notes	4.19% at December 31, 2019, and December 31, 2018, respectively	June 15, 2023		150,000		150,000
2024 Senior unsecured term loan(1)	3.44% and 4.01% at December 31, 2019, and December 31, 2018, respectively	April 19, 2024		150,000		150,000
2024 Senior unsecured notes	3.91% at December 31, 2019, and December 31, 2018, respectively	April 20, 2024		175,000		175,000
2025 Senior unsecured term loan(1)	2.81% at December 31, 2019	April 1, 2025		350,000		—
2026 Senior unsecured notes(1)	4.52% at December 31, 2019	April 17, 2026		200,000		—
2029 Senior unsecured notes	4.31% at December 31, 2019	April 17, 2029		200,000		—
Total principal outstanding		`		1,487,500		1,136,500
Unamortized deferred financing costs				(9,098)		(5,677)
Total debt			$	1,478,402	$	1,130,823

(1) Our Operating Partnership has in place swap agreements with respect to the term loans noted above. The interest rates presented represent the effective interest rates as of December 31, 2019, including the impact of the interest rate swaps, which effectively fix the interest rate on a portion of our variable rate debt. See Note 9 – Derivatives and Hedging Activities.

Summary of amount of the entity's outstanding debt when such debt currently become due

The following table summarizes when our debt currently becomes due (in thousands):

Year Ending December 31,
2020	$	—
2021		—
2022		200,000
2023		212,500
2024		325,000
Thereafter		750,000
Total principal outstanding		1,487,500
Unamortized deferred financing costs		(9,098)
Total debt, net	$	1,478,402