DEBT FINANCING (Tables)

9 Months Ended

Sep. 30, 2020

The Company's outstanding debt as of September 30, 2020 and December 31, 2019 is summarized as follows (dollars in thousands):


	Interest Rate(1)	September 30, 2020		December 31, 2019
Credit Facility:
Revolving line of credit	1.45%	$	246,500	$	—
Term loan A	3.74%	125,000		125,000
Term loan B	2.91%	250,000		250,000
Term loan C	2.80%	225,000		225,000
Term loan D	3.57%	175,000		175,000
2023 Term loan facility	2.83%	175,000		175,000
2028 Term loan facility	4.62%	75,000		75,000
2029 Term loan facility	4.27%	100,000		100,000
2029 Senior Unsecured Notes	3.98%	100,000		100,000
2031 Senior Unsecured Notes	4.08%	50,000		50,000
Fixed rate mortgages payable	4.26%	224,653		264,260
Total principal		1,746,153		1,539,260
Unamortized debt issuance costs and debt premium, net		(4,450)		(5,213)
Total debt		$	1,741,703	$	1,534,047

(1)Represents the effective interest rate as of September 30, 2020. Effective interest rate incorporates the stated rate plus the impact of interest rate cash flow hedges and discount and premium amortization, if applicable. For the revolving line of credit, the effective interest rate excludes fees for unused borrowings.

Schedule of future debt maturities

Based on existing debt agreements in effect as of September 30, 2020, the scheduled principal and maturity payments for the Company's outstanding borrowings are presented in the table below (in thousands):


Year Ending December 31,	Scheduled Principal and Maturity Payments		Amortization of Premium and Unamortized Debt Issuance Costs		Total
Remainder of 2020	$	1,040	$	(381)	$	659
2021	7,603		(1,522)		6,081
2022	4,205		(1,512)		2,693
2023	377,049		(1,159)		375,890
2024	518,464		(790)		517,674
2025	227,185		(218)		226,967
Thereafter	610,607		1,132		611,739
	$	1,746,153	$	(4,450)	$	1,741,703