DEBT (Tables)

9 Months Ended

Sep. 30, 2017

Debt Instrument [Line Items]

Schedule of Maturities of Debt

The following is a schedule of maturities for the Company’s outstanding debt as of September 30, 2017 (in thousands): 

	Secured Indebtedness			Revolving Credit     Facility (1)		Term Loans			Senior Notes			Total
October 1, 2017 through December 31, 2017	$	1,054		$	—	$	—		$	—		$	1,054
2018	4,304			—		—			—			4,304
2019	102,948			—		—			—			102,948
2020	4,598			—		200,000			—			204,598
2021	20,587			251,000		—			500,000			771,587
Thereafter	126,880			—		1,000,225			800,000			1,927,105
Total Debt	260,371			251,000		1,200,225			1,300,000			3,011,596
Premium, net	—			—		—			16,259			16,259
Deferred financing costs, net	(2,800		)	—		(9,338		)	(10,263		)	(22,401		)
Total Debt, Net	$	257,571		$	251,000	$	1,190,887		$	1,305,996		$	3,005,454

⁽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 secured debt consists of the following (dollars in thousands):

Interest Rate Type	Book Value as of September 30, 2017 (1)		Book Value as of December 31, 2016 (1)		Weighted Average Effective Interest Rate at September 30, 2017 (2)		Maturity Date
Fixed Rate	$	161,871	$	163,638	3.87	%	December 2021 -  August 2051
Variable Rate	98,500		—		3.02	%	July 2019
	$	260,371	$	163,638	3.55	%

⁽¹⁾   Principal balance does not include deferred financing costs, net of $2.8 million and $2.9 million as of September 30, 2017 and December 31, 2016, 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	September 30, 2017 (1)		December 31, 2016 (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
5.125% senior unsecured notes due 2026 (“2026 Notes”)	August 15, 2026	500,000		—
5.38% senior unsecured notes due 2027 (“2027 Notes”)	May 17, 2027	100,000		—
		$	1,300,000	$	700,000

⁽¹⁾  Principal balance does not include premium, net of $16.3 million and deferred financing costs, net of $10.3 million as of September 30, 2017 and does not include discount, net of $0.5 million and deferred financing costs, net of $11.2 million as of December 31, 2016.