Debt (Tables)

3 Months Ended

Mar. 31, 2020

Debt

Summary of outstanding indebtedness

A summary of outstanding indebtedness as of March 31, 2020, and December 31, 2019, is as follows (in thousands):

		Maturity	March 31,		December 31,
	Interest Rate	Date	2020		2019
Revolving credit facility(1)	2.45% and 3.01% at March 31, 2020, and December 31, 2019, respectively	November 8, 2023	$	155,500	$	62,500
2022 Senior unsecured term loan(1)	1.76% and 2.96% at March 31, 2020, and December 31, 2019, respectively	April 19, 2022		200,000		200,000
2023 Senior unsecured notes	4.19% at March 31, 2020, and December 31, 2019, respectively	June 15, 2023		150,000		150,000
2024 Senior unsecured term loan(1)	2.86% and 3.44% at March 31, 2020, and December 31, 2019, respectively	April 19, 2024		150,000		150,000
2024 Senior unsecured notes	3.91% at March 31, 2020, and December 31, 2019, respectively	April 20, 2024		175,000		175,000
2025 Senior unsecured term loan(1)	2.32% and 2.81% at March 31, 2020, and December 31, 2019, respectively	April 1, 2025		350,000		350,000
2026 Senior unsecured notes(1)	4.52% at March 31, 2020, and December 31, 2019, respectively	April 17, 2026		200,000		200,000
2029 Senior unsecured notes	4.31% at March 31, 2020, and December 31, 2019, respectively	April 17, 2029		200,000		200,000
Total principal outstanding		`		1,580,500		1,487,500
Unamortized deferred financing costs				(8,493)		(9,098)
Total debt			$	1,572,007	$	1,478,402

(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 March 31, 2020, and 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. We entered into three new interest rate swaps during the quarter ended March 31, 2020. See Note 8 – 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		305,500
2024		325,000
Thereafter		750,000
Total principal outstanding		1,580,500
Unamortized deferred financing costs		(8,493)
Total debt, net	$	1,572,007