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Debt Obligations (Tables)
 9 Months Ended
Sep. 30, 2020
Debt Disclosure [Abstract]  
Debt obligations under various arrangements with financial institutions
As of September 30, 2020 and December 31, 2019, the Company had the following indebtedness outstanding:
Carrying Value as of
September 30,
2020		December 31,
2019
Stated
Interest
Rate(1)
Scheduled
Maturity
Date
Secured loan
Secured loan
$— $7,000 N/AN/A
Net unamortized premium
— 211 
Net unamortized debt issuance costs
— (37)
Total secured loan, net
$— $7,174 
Notes payable
Unsecured notes(2)(3)
$4,835,302 $4,218,453 
1.30% – 7.97%
2022 – 2030
Net unamortized premium31,478 11,078 
Net unamortized debt issuance costs(27,146)(23,579)
Total notes payable, net
$4,839,634 $4,205,952 
Unsecured Credit Facility and term loans
Unsecured Credit Facility - Revolving Facility
$— $7,000 N/A2023
Unsecured $350 Million Term Loan(3)
350,000 350,000 1.41%2023
Unsecured $300 Million Term Loan(4)
300,000 300,000 1.41%2024
Net unamortized debt issuance costs
(7,974)(8,941)
Total Unsecured Credit Facility and term loans
$642,026 $648,059 
Total debt obligations, net
$5,481,660 $4,861,185 
(1)Stated interest rates as of September 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 3.76% as of September 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 September 30, 2020 and December 31, 2019, the Company had accrued interest of $44.9 million and $36.9 million outstanding, respectively. As of September 30, 2020, scheduled maturities of the Company’s outstanding debt obligations were as follows:
Year ending December 31,
2020 (remaining three months)$— 
2021— 
2022566,849 
2023850,000 
2024800,000 
Thereafter3,268,453 
Total debt maturities5,485,302 
Net unamortized premium
31,478 
Net unamortized debt issuance costs
(35,120)
Total debt obligations, net$5,481,660