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Debt - Summary of Borrowings (Detail) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Dec. 31, 2020
Debt Instrument [Line Items]    
Total revolving credit facility, Principal Outstanding $ 137,250 $ 79,250
Total term loan facilities, net, Principal Outstanding 249,148 248,966
Total notes payable, net, Principal Outstanding 447,151 447,171
Total mortgage notes payable, net, Principal Outstanding 201,049 $ 202,871
Total debt, Principal Outstanding 1,034,598  
Revolving Credit Facility [Member]    
Debt Instrument [Line Items]    
Total revolving credit facility, Principal Outstanding [1] $ 137,250  
Loan, Interest Rate [1],[2] L + 130bps  
Loan, Current Maturity [1],[3] 2022-06  
2016 Term Loan Facility [Member]    
Debt Instrument [Line Items]    
Loan, Principal Outstanding $ 100,000  
Loan, Interest Rate [2],[4] 2.67%  
Loan, Current Maturity 2024-03  
2018 Term Loan Facility [Member]    
Debt Instrument [Line Items]    
Loan, Principal Outstanding $ 150,000  
Loan, Interest Rate [2],[5] 3.96%  
Loan, Current Maturity 2023-06  
Term Loan Facility [Member]    
Debt Instrument [Line Items]    
Loan, Principal Outstanding $ 250,000  
Less: Total unamortized deferred financing fees (852)  
Total term loan facilities, net, Principal Outstanding 249,148  
Senior Unsecured Notes Payable | 2017 series A senior notes [Member]    
Debt Instrument [Line Items]    
Loan, Principal Outstanding $ 95,000  
Loan, Interest Rate [2] 4.05%  
Loan, Current Maturity 2027-05  
Senior Unsecured Notes Payable | 2017 series B senior notes [Member]    
Debt Instrument [Line Items]    
Loan, Principal Outstanding $ 50,000  
Loan, Interest Rate [2] 4.15%  
Loan, Current Maturity 2029-05  
Senior Unsecured Notes Payable | 2017 series C senior notes [Member]    
Debt Instrument [Line Items]    
Loan, Principal Outstanding $ 30,000  
Loan, Interest Rate [2] 4.30%  
Loan, Current Maturity 2032-05  
Senior Unsecured Notes Payable | 2019 series A senior notes [Member]    
Debt Instrument [Line Items]    
Loan, Principal Outstanding $ 85,000  
Loan, Interest Rate [2] 3.73%  
Loan, Current Maturity 2029-09  
Senior Unsecured Notes Payable | 2019 series B senior notes [Member]    
Debt Instrument [Line Items]    
Loan, Principal Outstanding $ 100,000  
Loan, Interest Rate [2] 3.83%  
Loan, Current Maturity 2031-09  
Senior Unsecured Notes Payable | 2019 series C senior notes [Member]    
Debt Instrument [Line Items]    
Loan, Principal Outstanding $ 90,000  
Loan, Interest Rate [2] 3.98%  
Loan, Current Maturity 2034-09  
Notes Payable [Member]    
Debt Instrument [Line Items]    
Loan, Principal Outstanding $ 450,000  
Less: Total unamortized deferred financing fees (2,849)  
Mortgage Notes Payable [Member]    
Debt Instrument [Line Items]    
Loan, Principal Outstanding 202,305  
Less: Total unamortized deferred financing fees (1,338)  
Less: Total unamortized premium/discount 82  
Mortgage Notes Payable [Member] | CBP Savannah [Member]    
Debt Instrument [Line Items]    
Loan, Principal Outstanding $ 11,600  
Loan, Interest Rate [2],[6] 3.40%  
Loan, Current Maturity 2033-07  
Mortgage Notes Payable [Member] | ICE Charleston [Member]    
Debt Instrument [Line Items]    
Loan, Principal Outstanding $ 15,494  
Loan, Interest Rate [2],[6] 4.21%  
Loan, Current Maturity 2027-01  
Mortgage Notes Payable [Member] | MEPCOM Jacksonville [Member]    
Debt Instrument [Line Items]    
Loan, Principal Outstanding $ 7,351  
Loan, Interest Rate [2],[6] 4.41%  
Loan, Current Maturity 2025-10  
Mortgage Notes Payable [Member] | USFS II Albuquerque [Member]    
Debt Instrument [Line Items]    
Loan, Principal Outstanding $ 15,738  
Loan, Interest Rate [2],[6] 4.46%  
Loan, Current Maturity 2026-07  
Mortgage Notes Payable [Member] | DEA Pleasanton [Member]    
Debt Instrument [Line Items]    
Loan, Principal Outstanding $ 15,700  
Loan, Interest Rate [2],[6] L + 150bps  
Loan, Current Maturity 2023-10  
Mortgage Notes Payable [Member] | VA Loma Linda [Member]    
Debt Instrument [Line Items]    
Loan, Principal Outstanding $ 127,500  
Loan, Interest Rate [2],[6] 3.59%  
Loan, Current Maturity 2027-07  
Mortgage Notes Payable [Member] | VA Golden [Member]    
Debt Instrument [Line Items]    
Loan, Principal Outstanding $ 8,922  
Loan, Interest Rate [2],[6] 5.00%  
Loan, Current Maturity 2024-04  
[1]

 

(2)

Our revolving credit facility had available capacity of $312.8 million at June 30, 2021 with an accordion feature that permits us to request additional lender commitments for up to $250.0 million of additional capacity, subject to the satisfaction of customary terms and conditions.

[2]

At June 30, 2021, the one-month LIBOR (“L”) was 0.10%. The current interest rate is not adjusted to include the amortization of deferred financing fees or debt issuance costs incurred in obtaining debt or any unamortized fair market value premiums. The spread over the applicable rate for each of the $450.0 million senior unsecured revolving credit facility (our “revolving credit facility”), the $150.0 million senior unsecured term loan facility (our “2018 term loan facility”) and the $100.0 million senior unsecured term loan facility (our “2016 term loan facility”) is based on the Company’s consolidated leverage ratio, as defined in the respective loan agreements.

[3]

Our revolving credit facility has two six-month as-of-right extension options subject to certain conditions and the payment of an extension fee.

[4] Entered into two interest rate swaps with an effective date of March 29, 2017 with an aggregate notional value of $100.0 million to effectively fix the interest rate at 2.67% annually, based on our consolidated leverage ratio, as defined in our 2016 term loan facility agreement
[5] Entered into four interest rate swaps with an effective date of December 13, 2018 with an aggregate notional value of $150.0 million to effectively fix the interest rate at 3.96% annually, based on our consolidated leverage ratio, as defined in our 2018 term loan facility agreement
[6]

Effective interest rates are as follows: DEA – Pleasanton 1.80%, VA – Golden 5.03%, MEPCOM – Jacksonville 3.89%, USFS II Albuquerque 3.92%, ICE – Charleston 3.93%, VA – Loma Linda 3.78%, CBP – Savannah 4.12%.