DEBT (Tables)

12 Months Ended

Dec. 31, 2016

Debt Instrument [Line Items]

Schedule of Maturities of Debt

The following is a schedule of maturities for the Company’s outstanding debt as of December 31, 2016 (in thousands):

	Mortgage Indebtedness			Revolving Credit Facility (1)		Terms Loans			Senior Notes			Total
2017	$	4,128		$	—	$	—		$	—		$	4,128
2018	4,265			—		—			—			4,265
2019	4,408			—		—			—			4,408
2020	4,555			26,000		—			—			30,555
2021	19,402			—		338,000			500,000			857,402
Thereafter	126,880			—		—			200,000			326,880
Total Principal Balance	163,638			26,000		338,000			700,000			1,227,638
Discount	—			—		—			(515		)	(515		)
Deferred Financing Costs	(2,886		)	—		(2,327		)	(11,239		)	(16,452		)
Total Debt, net	160,752			26,000		335,673			688,246			1,210,671

⁽¹⁾ Revolving Credit Facility is subject to twosix-month extension options

Mortgages [Member]

Debt Instrument [Line Items]

Schedule of Long Term Debt

The Company’s mortgage notes payable consist of the following (dollars in thousands):

Interest Rate Type	Book Value as of December 31, 2016 (1)		Book Value as of December 31, 2015 (1)		Weighted Average Effective Interest Rate at December 31, 2016 (2)		Maturity Date
Fixed Rate	$	163,638	$	177,850	3.87	%	December 2021 -  August 2051

⁽¹⁾ Principal balance does not include deferred financing costs of $2.9 million and $3.0 million as of December 31, 2016 and 2015, respectively.

⁽²⁾ Weighted average effective interest rate includes private mortgage insurance.

Senior Unsecured Notes [Member]

Debt Instrument [Line Items]

Schedule of Long Term Debt

The Company’s senior unsecured notes consist of the following (dollars in thousands):

		Principal Balance as of
Title	Maturity Date	December 31, 2016 (1)		December 31, 2015 (1)
5.5% senior unsecured notes due 2021 (“2021 Notes”)	February 1, 2021	$	500,000	$	500,000
5.375% senior unsecured notes due 2023 (“2023 Notes”)	June 1, 2023	200,000		200,000
		$	700,000	$	700,000

⁽¹⁾ Principal balance does not include discount of $0.5 million and $0.6 million as of December 31, 2016 and 2015, respectively