Debt (Tables)

12 Months Ended

Dec. 31, 2019

As of December 31, 2019 and December 31, 2018, the Company’s debt consisted of the following:



	December 31,							Contractual Interest Rate ⁽¹⁾	Loan Maturity	Effective Interest Rate ⁽²⁾
	2019			2018				Contractual Interest Rate ⁽¹⁾	Loan Maturity	Effective Interest Rate ⁽²⁾
HealthSpring Mortgage Loan	$	20,723		$	21,219			4.18%	April 2023	4.61%
Midland Mortgage Loan	100,249			102,262				3.94%	April 2023	4.10%
Emporia Partners Mortgage Loan	2,104			2,554				5.88%	September 2023	5.98%
Samsonite	21,154			22,085				6.08%	September 2023	5.14%
Highway 94 loan	15,610			16,497				3.75%	August 2024	4.73%
AIG Loan II	126,970			—				4.15%	November 2025	4.91%
BOA Loan	375,000			375,000				3.77%	October 2027	3.92%
BOA/KeyBank Loan	250,000			—				4.32%	May 2028	4.16%
AIG Loan	105,762			107,562				4.96%	February 2029	5.08%
Total Mortgage Debt	1,017,572			647,179
2023 Term Loan	200,000			—				LIBO Rate +1.40%	June 2023	3.28%
2024 Term Loan	400,000			—				LIBO Rate +1.40%	April 2024	3.27%
2026 Term Loan	150,000			—				LIBO Rate +1.75%	April 2026	3.59%
Revolving Credit Facility ⁽⁴⁾	211,500			—				LIBO Rate +1.45%	June 2023⁽⁴⁾	3.35%
Term Loan	—			715,000			⁽³⁾	—	—	—
Total Debt	1,979,072			1,362,179
Unamortized Deferred Financing Costs and Discounts, net	(9,968		)	(8,648		)
Total Debt, net	$	1,969,104		$	1,353,531


(1)	Including the effect of one interest rate swap agreement with a total notional amount of $425.0 million, the weighted average interest rate as of December 31, 2019 was 3.72% for both the Company’s fixed-rate and variable-rate debt combined and 3.89% for the Company’s fixed-rate debt only.


(2)	Reflects the effective interest rate as of December 31, 2019 and includes the effect of amortization of discounts/premiums and deferred financing costs.


(3)	Represents the Company's Term Loan (defined below), which was fully repaid on May 1, 2019. See discussion below.


(4)	The LIBO rate as of December 31, 2019 was 1.69%. The Revolving Credit Facility has an initial term of approximately three years, maturing on June 28, 2022, and may be extended for a one-year period if certain conditions are met and upon payment of an extension fee. See discussion below.

The following summarizes the future principal repayments of all loans as of December 31, 2019 per the loan terms discussed above:



	As of December 31, 2019
2020	$	6,882
2021	9,390
2022	9,826
2023	337,019
2024	439,302
Thereafter	1,176,653
Total principal	1,979,072
Unamortized debt premium/(discount)	(1,099		)
Unamortized deferred loan costs	(8,869		)
Total	$	1,969,104