Debt (Tables)

12 Months Ended

Dec. 31, 2017

Debt Disclosure [Abstract]

Summary of Debt

The following is a summary of amounts outstanding under the credit facility as of December 31, 2017:

	December 31, 2017
	Interest Rate	Balance
		(In thousands)
Revolving credit facility (1)	2.66%	$	115,751
Tranche A-1 Term Loan	3.17%	$	50,000
Unamortized deferred financing costs, net		(3,463		)
Unsecured term loan, net		$	46,537

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⁽¹⁾  As of December 31, 2017, letters of credit with an aggregate face amount of $5.7 million were provided under our revolving credit facility.

The following is a summary of mortgages payable as of December 31, 2017 and 2016:

	Weighted Average Effective Interest Rate at	December 31,
	December 31, 2017	2017 (1)			2016
		(In thousands)
Variable rate (2)	3.62%	$	498,253		$	547,291
Fixed rate (3)	4.25%	1,537,706			620,327
Mortgages payable		2,035,959			1,167,618
Unamortized deferred financing costs and premium/discount, net		(10,267		)	(2,604		)
Mortgages payable, net		$	2,025,692		$	1,165,014
Payable to former parent (4)	—	$	—		$	283,232

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⁽¹⁾  Includes mortgages payable assumed in the Combination. See Note 3 for additional information.

⁽²⁾  Includes variable rate mortgages payable with interest rate cap agreements.

⁽³⁾  Includes variable rate mortgages payable with interest rates fixed by interest rate swap agreements.

⁽⁴⁾  Includes amounts payable to former parent as of December 31, 2016 in connection with the Bowen Building and The Bartlett. See Note 18 for additional information.

Schedule of Maturities of Debt Outstanding

Principal maturities of debt outstanding as of December 31, 2017, including mortgages payable, the Tranche A-1 Term Loan and borrowings on the revolving credit facility, are as follows:

Year ending December 31,	Amount
	(In thousands)
2018	$	337,513
2019	227,041
2020	225,914
2021	216,545
2022	327,500
Thereafter	867,197
Total	$	2,201,710