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Debt
9 Months Ended
Sep. 30, 2018
Debt Instruments [Abstract]  
DEBT
DEBT
On March 1, 2018, we repaid the $10.5 million mortgage loan on The Grove at Shrewsbury (West) at par.
On August 10, 2018, we exercised our option to extend the maturity date of our $275.0 million unsecured term loan by one year to November 21, 2019.
During the three and nine months ended September 30, 2018, the maximum amount of borrowings outstanding under our $800.0 million revolving credit facility was $161.0 million and $177.0 million, respectively, and the weighted average interest rate, before amortization of debt fees, was 2.8% and 2.6%, respectively. During the three and nine months ended September 30, 2018, the weighted average borrowings outstanding were $85.9 million and $101.8 million, respectively. At September 30, 2018, the outstanding balance was $26.5 million. Our revolving credit facility, term loan and certain notes require us to comply with various financial covenants, including the maintenance of minimum shareholders' equity and debt coverage ratios and a maximum ratio of debt to net worth. As of September 30, 2018, we were in compliance with all default related debt covenants.