DEBT (Tables)

12 Months Ended

Dec. 31, 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 December 31, 2018 (in thousands):

	Secured Indebtedness			Revolving Credit Facility (1)		Term Loans			Senior Notes			Total
2019	$	3,421		$	—	$	—		$	—		$	3,421
2020	3,530			—		200,000			—			203,530
2021	18,130			624,000		—			500,000			1,142,130
2022	3,185			—		991,700			—			994,885
2023	3,282			—		—			200,000			203,282
Thereafter	85,916			—		—			600,000			685,916
Total Debt	117,464			624,000		1,191,700			1,300,000			3,233,164
Premium, net	—			—		—			14,500			14,500
Deferred financing costs, net	(1,785		)	—		(6,770		)	(7,106		)	(15,661		)
Total Debt, Net	$	115,679		$	624,000	$	1,184,930		$	1,307,394		$	3,232,003

⁽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 Balance as of December 31, 2018 (1)		Principal Balance as of December 31, 2017 (1)		Weighted Average Effective Interest Rate at December 31, 2018 (2)		Maturity Date
Fixed Rate	$	117,464	$	160,702	3.66	%	December 2021 -  August 2051
Variable Rate	—		98,500		NA		NA
	$	117,464	$	259,202	3.66	%

⁽¹⁾  Principal balance does not include deferred financing costs, net of $1.8 million and $2.8 million as of December 31, 2018 and 2017, 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	2018 (1)		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 $14.5 million and deferred financing costs, net of $7.1 million as of December 31, 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.