DEBT (Tables)

3 Months Ended

Mar. 31, 2019

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 March 31, 2019 (in thousands): 

	Secured Indebtedness			Revolving Credit     Facility (1)		Term Loans			Senior Notes			Total
April 1 through December 31, 2019	$	2,584		$	—	$	—		$	—		$	2,584
2020	3,541			—		200,000			—			203,541
2021	18,446			620,000		—			500,000			1,138,446
2022	3,185			—		993,625			—			996,810
2023	3,282			—		—			200,000			203,282
Thereafter	85,916			—		—			600,000			685,916
Total Debt	116,954			620,000		1,193,625			1,300,000			3,230,579
Premium, net	—			—		—			14,135			14,135
Deferred financing costs, net	(1,766		)	—		(6,241		)	(6,477		)	(14,484		)
Total Debt, Net	$	115,188		$	620,000	$	1,187,384		$	1,307,658		$	3,230,230

⁽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 March 31, 2019 (1)		Principal Balance as of December 31, 2018 (1)		Weighted Average Effective Interest Rate at March 31, 2019 (2)		Maturity Date
Fixed Rate	$	116,954	$	117,464	3.66	%	December 2021 -  August 2051

⁽¹⁾   Principal balance does not include deferred financing costs, net of $1.8 million as of each of March 31, 2019 and December 31, 2018.

⁽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	March 31, 2019 (1)		December 31, 2018 (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 $14.1 million and deferred financing costs, net of $6.5 million as of March 31, 2019 and does not include premium, net of $14.5 million and deferred financing costs, net of $7.1 million as of December 31, 2018.