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Debt Obligations (Tables)
 6 Months Ended
Jun. 30, 2020
Debt Disclosure [Abstract]  
Debt obligations under various arrangements with financial institutions
As of June 30, 2020 and December 31, 2019, the Company had the following indebtedness outstanding:
Carrying Value as of
June 30,
2020		December 31,
2019
Stated
Interest
Rate(1)
Scheduled
Maturity
Date
Secured loan
Secured loan
$—  $7,000  ——
Net unamortized premium
—  211  
Net unamortized debt issuance costs
—  (37) 
Total secured loan, net
$—  $7,174  
Notes payable
Unsecured notes(2)(3)
$4,535,974  $4,218,453  
1.74% – 7.97%
2022 – 2030
Net unamortized premium10,240  11,078  
Net unamortized debt issuance costs(25,520) (23,579) 
Total notes payable, net
$4,520,694  $4,205,952  
Unsecured Credit Facility and term loans
Unsecured Credit Facility - Revolving Facility
$145,500  $7,000  1.28%2023
Unsecured $350 Million Term Loan(3)
350,000  350,000  1.42%2023
Unsecured $300 Million Term Loan(4)
300,000  300,000  1.42%2024
Net unamortized debt issuance costs
(8,667) (8,941) 
Total Unsecured Credit Facility and term loans
$786,833  $648,059  
Total debt obligations, net
$5,307,527  $4,861,185  
(1)Stated interest rates as of June 30, 2020 do not include the impact of the Company’s interest rate swap agreements (described below).
(2)The weighted average stated interest rate on the Company’s unsecured notes was 3.77% as of June 30, 2020.
(3)Effective November 1, 2016, the Company has in place three interest rate swap agreements that convert the variable interest rate on $150.0 million of the Company’s $250.0 million Floating Rate Senior Notes due 2022, issued on August 31, 2018 to a fixed, combined interest rate of 1.11% (plus a spread of 105 basis points) and the Company’s $350.0 million term loan agreement, as amended April 29, 2020, (the “$350 Million Term Loan”) to a fixed, combined interest rate of 1.11% (plus a spread of 125 basis points) through July 30, 2021.
(4)Effective January 2, 2019, the Company has in place four interest rate swap agreements that convert the variable interest rate on the Company’s $300 million term loan agreement, as amended April 29, 2020 (the “$300 Million Term Loan”) to a fixed, combined interest rate of 2.61% (plus a spread of 125 basis points) through July 26, 2024.
Future expected/scheduled maturities of outstanding debt and capital lease obligations
As of June 30, 2020 and December 31, 2019, the Company had accrued interest of $36.0 million and $36.9 million outstanding, respectively. As of June 30 2020, scheduled maturities of the Company’s outstanding debt obligations were as follows:
Year ending December 31,
2020 (remaining six months)$—  
2021—  
2022567,521  
2023995,500  
2024800,000  
Thereafter2,968,453  
Total debt maturities5,331,474  
Net unamortized premium
10,240  
Net unamortized debt issuance costs
(34,187) 
Total debt obligations, net$5,307,527