Mortgage Notes, Term Loans, and Revolving Credit Facilities (Tables)

3 Months Ended

Mar. 31, 2019

Debt Disclosure [Abstract]

Summary of Mortgage Notes, Term Loans and Revolving Credit Facilities

The following table is a summary of the mortgage notes, term loans, and revolving credit facilities ($ in thousands):

					Principal Balance Outstanding(3)
Indebtedness	Weighted Average Interest Rate(1)	Weighted Average Maturity Date(2)(3)	Maximum Facility Size		March 31, 2019			December 31, 2018
Fixed rate
Fixed rate mortgages	4.06%	11/4/2025	N/A		$	5,255,269		$	4,782,326
Mezzanine loan	5.85%	4/5/2025	N/A			200,000			200,000
Total fixed rate loans	4.13%	10/27/2025				5,455,269			4,982,326
Variable rate
Floating rate mortgages	L+1.71%	5/13/2026	N/A			678,694			675,116
Variable rate term loans	L+1.69%	12/27/2022	N/A			603,500			603,500
Variable rate revolving credit facilities	L+1.74%	9/5/2022	$	903,500		512,675			624,200
Total variable rate loans	L+1.71%	3/5/2024				1,794,869			1,902,816
Total loans secured by the Company's properties	4.15%	5/31/2025				7,250,138			6,885,142
Deferred financing costs, net						(55,491	)		(53,546	)
Premium on assumed debt, net						1,200			1,673
Total loans secured by the Company's properties, net(4)						7,195,847			6,833,269
Unsecured variable rate revolving credit facilities	L+2.40%	4/10/2021		600,000		—			—
Mortgage notes, term loans, and revolving credit facilities, net					$	7,195,847		$	6,833,269

⁽¹⁾ The term “L” refers to the one-month LIBOR. As of March 31, 2019, one-month LIBOR was equal to 2.5%.

⁽²⁾ For loans where the Company, at its sole discretion, has extension options, the maximum maturity date has been assumed.

⁽³⁾ The majority of the Company’s mortgages contain yield or spread maintenance provisions.

⁽⁴⁾ Includes $250 million affiliate line of credit.

Summary of Future Principal Payment Due Under Company's Mortgage Notes, Term Loans, and Revolving Credit Facilities

The following table presents the future principal payments due under the Company’s mortgage notes, term loans, and revolving credit facilities as of March 31, 2019 ($ in thousands):

Year	Amount
2019 (remaining)	$	17,624
2020		98,122
2021		252,193
2022		718,650
2023		539,413
2024		1,027,524
Thereafter		4,596,612
Total	$	7,250,138