DEBT (Tables)

6 Months Ended

Jun. 30, 2018

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 June 30, 2018 (in thousands): 

	Secured Indebtedness			Revolving Credit     Facility (1)		Term Loans			Senior Notes			Total
July 1 through December 31, 2018	$	2,156		$	—	$	—		$	—		$	2,156
2019	102,920			—		—			—			102,920
2020	4,568			—		200,000			—			204,568
2021	19,757			676,000		—			500,000			1,195,757
2022	4,285			—		995,163			—			999,448
Thereafter	122,595			—		—			800,000			922,595
Total Debt	256,281			676,000		1,195,163			1,300,000			3,427,444
Premium, net	—			—		—			15,216			15,216
Deferred financing costs, net	(2,714		)	—		(7,765		)	(8,374		)	(18,853		)
Total Debt, Net	$	253,567		$	676,000	$	1,187,398		$	1,306,842		$	3,423,807

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

Secured Debt

Debt Instrument [Line Items]

Debt

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

Interest Rate Type	Principal Balance as of June 30, 2018 (1)		Principal Balance as of December 31, 2017 (1)		Weighted Average Effective Interest Rate at June 30, 2018 (2)		Maturity Date
Fixed Rate	$	157,781	$	160,702	3.87	%	December 2021 -  August 2051
Variable Rate	98,500		98,500		3.89	%	July 2019
	$	256,281	$	259,202	3.88	%

⁽¹⁾   Principal balance does not include deferred financing costs, net of $2.7 million and $2.8 million as of June 30, 2018 and December 31, 2017, respectively.

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

Senior Notes

Debt Instrument [Line Items]

Debt

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

		Principal Balance as of
Title	Maturity Date	June 30, 2018 (1)		December 31, 2017 (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		500,000
5.38% senior unsecured notes due 2027 (“2027 Notes”)	May 17, 2027	100,000		100,000
		$	1,300,000	$	1,300,000

⁽¹⁾  Principal balance does not include premium, net of $15.2 million and deferred financing costs, net of $8.4 million as of June 30, 2018 and does not include premium, net of $15.9 million and deferred financing costs, net of $9.6 million as of December 31, 2017.