DEBT FINANCING (Tables)

9 Months Ended

Sep. 30, 2021

Debt Disclosure [Abstract]

Schedule of debt

The Company's outstanding debt as of September 30, 2021 and December 31, 2020 is summarized as follows (dollars in thousands):

	Interest Rate(1)	September 30, 2021		December 31, 2020
Credit Facility:
Revolving line of credit	1.38%	$	—	$	174,000
Term loan A	3.74%	125,000		125,000
Term loan B	2.91%	250,000		250,000
Term loan C	2.91%	225,000		225,000
Term loan D	3.12%	175,000		175,000
Term loan E	1.28%	125,000		—
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
2026 Senior Unsecured Notes	2.16%	35,000		—
2029 Senior Unsecured Notes	3.98%	100,000		100,000
2030 Senior Unsecured Notes	2.99%	150,000		150,000
May 2031 Senior Unsecured Notes	3.00%	90,000		—
August 2031 Senior Unsecured Notes	4.08%	50,000		50,000
2032 Senior Unsecured Notes	3.09%	100,000		100,000
2033 Senior Unsecured Notes	3.10%	55,000		—
Fixed rate mortgages payable	3.83%	305,005		223,614
Total principal		2,135,005		1,922,614
Unamortized debt issuance costs and debt premium, net		(6,520)		(5,643)
Total debt		$	2,128,485	$	1,916,971

(1)Represents the effective interest rate as of September 30, 2021. 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, 2021, 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 2021	$	1,060	$	(502)	$	558
2022	4,374		(2,015)		2,359
2023	376,813		(1,659)		375,154
2024	271,964		(1,286)		270,678
2025	227,185		(710)		226,475
2026	212,322		(553)		211,769
Thereafter	1,041,287		205		1,041,492
	$	2,135,005	$	(6,520)	$	2,128,485