Debt (Tables)

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Schedule of Maturities of Long-term Debt [Table Text Block]

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Principal maturities of debt outstanding as of December 31, 2018, including mortgages payable and the term loans, are as follows:

Year ending December 31,	Amount
	(In thousands)
2019	$	182,467
2020	97,141
2021	331,881
2022	327,500
2023	277,736
Thereafter	927,927
Total	$	2,144,652

Summary of Debt

The following is a summary of mortgages payable:

	Weighted Average Effective Interest Rate (1)	December 31,
		2018			2017
		(In thousands)
Variable rate (2)	4.30%	$	308,918		$	498,253
Fixed rate (3)	4.09%	1,535,734			1,537,706
Mortgages payable		1,844,652			2,035,959
Unamortized deferred financing costs and premium/   discount, net		(6,271		)	(10,267		)
Mortgages payable, net		$	1,838,381		$	2,025,692

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⁽¹⁾  Weighted average effective interest rate as of December 31, 2018.

⁽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.

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In July 2018, we drew $200.0 million under the Tranche A-2 Term Loan, in accordance with the delayed draw provisions of the credit facility.

The following is a summary of amounts outstanding under the credit facility:

		December 31,
	Interest Rate (1)	2018			2017
		(In thousands)
Revolving credit facility (2) (3) (4) (5)	3.60%	$	—		$	115,751
Tranche A-1 Term Loan	3.32%	$	100,000		$	50,000
Tranche A-2 Term Loan	4.05%	200,000			—
Unsecured term loans		300,000			50,000
Unamortized deferred financing costs, net		(2,871		)	(3,463		)
Unsecured term loans, net		$	297,129		$	46,537

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⁽¹⁾  Interest rate as of December 31, 2018.

⁽²⁾  As of December 31, 2018 and 2017, letters of credit with an aggregate face amount of $5.7 million were provided under our revolving credit facility.

⁽³⁾  As of December 31, 2018 and 2017, net deferred financing costs related to our revolving credit facility totaling $4.8 million and $6.7 million were included in "Other assets, net."

⁽⁴⁾  In May 2018, in connection with the sale of the Bowen Building, we repaid $115.0 million of the then outstanding balance on our revolving credit facility. See Note 4 for additional information.

⁽⁵⁾  The interest rate for the revolving credit facility excludes a 0.15% facility fe