DEBT (Tables)

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Debt

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

		Principal Balance as of
Title	Maturity Date	June 30, 2020 (1)		December 31, 2019 (1)
4.80% senior unsecured notes due 2024 (“2024 Notes”)	June 1, 2024	$	300,000	$	300,000
5.125% senior unsecured notes due 2026 (“2026 Notes”)	August 15, 2026	500,000		500,000
5.88% senior unsecured notes due 2027 (“2027 Notes”)	May 17, 2027	100,000		100,000
3.90% senior unsecured notes due 2029 (“2029 Notes”)	October 15, 2029	350,000		350,000
		$	1,250,000	$	1,250,000

⁽¹⁾ 

Principal balance does not include premium, net of $7.0 million and deferred financing costs, net of $8.8 million as of June 30, 2020 and does not include premium, net of $7.6 million and deferred financing costs, net of $8.8 million as of December 31, 2019.

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

Interest Rate Type	Principal Balance as of June 30, 2020 (1)		Principal Balance as of December 31, 2019 (1)		Weighted Average Interest Rate at June 30, 2020 (2)		Maturity Date
Fixed Rate	$	98,141	$	114,777	3.48	%	December 2021 -  August 2051

⁽¹⁾   Principal balance does not include deferred financing costs, net of $1.3 million and $1.7 million as of June 30, 2020 and December 31, 2019, respectively.

⁽²⁾  

Weighted average interest rate includes private mortgage insurance.

Schedule of Maturities for Outstanding Debt

The following is a schedule of maturities for the Company’s outstanding debt as of June 30, 2020 (in thousands): 

	Secured Indebtedness			Revolving Credit     Facility (1)		Term Loans			Senior Notes			Total
July 1 through December 31, 2020	$	1,607		$	—	$	—		$	—		$	1,607
2021	17,764			—		—			—			17,764
2022	2,816			—		105,000			—			107,816
2023	2,898			73,000		350,000			—			425,898
2024	2,983			—		591,625			300,000			894,608
Thereafter	70,073			—		—			950,000			1,020,073
Total Debt	98,141			73,000		1,046,625			1,250,000			2,467,766
Premium, net	—			—		—			7,035			7,035
Deferred financing costs, net	(1,280		)	—		(9,438		)	(8,790		)	(19,508		)
Total Debt, Net	$	96,861		$	73,000	$	1,037,187		$	1,248,245		$	2,455,293

⁽¹⁾ 

Revolving Credit Facility is subject to two six-month extension options.