DEBT (Tables)

12 Months Ended

Dec. 31, 2017

Debt Instrument [Line Items]

Schedule of Maturities for Outstanding Debt

The following is a schedule of maturities for the Company’s outstanding debt as of December 31, 2017 (in thousands):

	Secured Indebtedness			Revolving Credit Facility (1)		Term Loans			Senior Notes			Total
2018	$	4,301		$	—	$	—		$	—		$	4,301
2019	102,945			—		—			—			102,945
2020	4,594			—		200,000			—			204,594
2021	20,482			641,000		—			500,000			1,161,482
2022	4,285			—		999,587			—			1,003,872
Thereafter	122,595			—		—			800,000			922,595
Total Debt	259,202			641,000		1,199,587			1,300,000			3,399,789
Premium, net	—			—		—			15,915			15,915
Deferred financing costs, net	(2,772		)	—		(8,813		)	(9,629		)	(21,214		)
Total Debt, Net	$	256,430		$	641,000	$	1,190,774		$	1,306,286		$	3,394,490

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

Secured Indebtedness

Debt Instrument [Line Items]

Debt

The Company’s secured debt consists of the following (dollars in thousands):

Interest Rate Type	Principal as of December 31, 2017 (1)		Principal as of December 31, 2016 (1)		Weighted Average Effective Interest Rate at December 31, 2017 (2)		Maturity Date
Fixed Rate	$	160,702	$	163,638	3.87	%	December 2021 -  August 2051
Variable Rate	98,500		—		3.36	%	July 2019
	$	259,202	$	163,638	3.68	%

⁽¹⁾  Principal balance does not include deferred financing costs, net of $2.8 million and $2.9 million as of December 31, 2017 and 2016, respectively.

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

Senior Unsecured Notes

Debt Instrument [Line Items]

Debt

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

		Principal Balance as of December 31,
Title	Maturity Date	2017 (1)		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 $15.9 million and deferred financing costs, net of $9.6 million as of December 31, 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.