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CREDIT FACILITIES AND NOTES PAYABLE AND REPURCHASE FACILTY (Tables)
 6 Months Ended
Jun. 30, 2020
Debt Disclosure [Abstract]  
Schedule of debt
The following table summarizes the debt balances as of June 30, 2020 and December 31, 2019, and the debt activity for the six months ended June 30, 2020 (in thousands):
 
 
 
During the Six Months Ended June 30, 2020
 
 
 
Balance as of December 31, 2019
 
Debt Issuances & Assumptions (1)
 
Repayments & Modifications (2)
 
Accretion and (Amortization)
 
Balance as of
June 30, 2020
Fixed rate debt
$
726,261

 
$
—

 
$
(218,814
)
 
$
—

 
$
507,447

Credit facilities
885,000

 
246,500

 
—

 
—

 
1,131,500

Repurchase facility
—

 
74,492

 
—

 
—

 
74,492

Total debt
1,611,261

 
320,992

 
(218,814
)
 
—

 
1,713,439

Net premiums (3)
241

 
—

 
—

 
(45
)
 
196

Deferred costs – credit facility (4)
(3,933
)
 
—

 
—

 
890

 
(3,043
)
Deferred costs – fixed rate debt
(2,709
)
 
—

 
186

(5 
) 
529

 
(1,994
)
Total debt, net
$
1,604,860

 
$
320,992

 
$
(218,628
)
 
$
1,374

 
$
1,708,598

____________________________________
(1)
Includes deferred financing costs incurred during the period.
(2)
In connection with the repayment of certain mortgage notes, the Company recognized a loss on extinguishment of debt of $4.8 million during the six months ended June 30, 2020.
(3) Net premiums on mortgage notes payable were recorded upon the assumption of the respective debt instruments. Amortization of these net premiums is recorded as a reduction to interest expense over the remaining term of the respective debt instruments using the effective-interest method.
(4)
Deferred costs related to the term portion of the Credit Facility (as defined below).
(5)
Represents deferred financing costs written off during the period resulting from debt repayments prior to the respective maturity dates.
Schedule of maturities of long-term debt
The following table summarizes the scheduled aggregate principal repayments for the Company’s outstanding debt subsequent to June 30, 2020 (in thousands):
 
Principal Repayments
Remainder of 2020
$
264

2021
201,301

2022
913,963

2023
393,646

2024
204,265

Thereafter
—

Total
$
1,713,439