DEBT, NET (UNITED DOMINION REALTY, L.P.) (Tables)

6 Months Ended

Jun. 30, 2020

Entity information

Schedule of debt instruments

The following is a summary of our secured and unsecured debt at June 30, 2020 and December 31, 2019 (dollars in thousands):

	Principal Outstanding				As of June 30, 2020
					Weighted		Weighted
					Average		Average	Number of
	June 30,		December 31,		Interest		Years to	Communities
	2020		2019		Rate		Maturity	Encumbered
Secured Debt:
Fixed Rate Debt
Mortgage notes payable (a)	$	855,585	$	884,869	3.60	%	5.9	14
Credit facilities (b)		202,254		204,590	4.90	%	2.5	4
Deferred financing costs and other non-cash adjustments		28,102		33,046
Total fixed rate secured debt, net		1,085,941		1,122,505	3.85	%	5.2	18
Variable Rate Debt
Tax-exempt secured notes payable (c)		27,000		27,000	0.85	%	11.7	1
Deferred financing costs		(71)		(64)
Total variable rate secured debt, net		26,929		26,936	0.85	%	11.7	1
Total Secured Debt, net		1,112,870		1,149,441	3.77	%	5.4	19
Unsecured Debt:
Variable Rate Debt
Borrowings outstanding under unsecured credit facility due January 2023 (d) (m)		—		—	—	%	2.6
Borrowings outstanding under unsecured commercial paper program due July 2020 (e) (m)		185,000		300,000	0.45	%	0.1
Borrowings outstanding under unsecured working capital credit facility due January 2021 (f)		17,180		16,583	0.99	%	0.5
Term Loan due September 2023 (d) (m)		35,000		35,000	1.07	%	3.3
Fixed Rate Debt
1.93% Term Loan due September 2023 (d) (m)		315,000		315,000	1.93	%	3.3
3.75% Medium-Term Notes due July 2024 (net of discounts of $417 and $470, respectively) (g) (m)		299,583		299,530	3.75	%	4.0
8.50% Debentures due September 2024		15,644		15,644	8.50	%	4.2
4.00% Medium-Term Notes due October 2025 (net of discounts of $362 and $396, respectively) (h) (m)		299,638		299,604	4.00	%	5.3
2.95% Medium-Term Notes due September 2026 (m)		300,000		300,000	2.95	%	6.2
3.50% Medium-Term Notes due July 2027 (net of discounts of $494 and $529, respectively) (m)		299,506		299,471	3.50	%	7.0
3.50% Medium-Term Notes due January 2028 (net of discounts of $894 and $954, respectively) (m)		299,106		299,046	3.50	%	7.5
4.40% Medium-Term Notes due January 2029 (net of discounts of $5 and $5, respectively) (i) (m)		299,995		299,995	4.40	%	8.6
3.20% Medium-Term Notes due January 2030 (net of premiums of $13,099 and $2,281, respectively) (j) (m)		613,099		402,281	3.20	%	9.5
3.00% Medium-Term Notes due August 2031 (net of discounts of $1,075 and $1,123, respectively) (k) (m)		398,925		398,877	3.00	%	11.1
3.10% Medium-Term Notes due November 2034 (net of discounts of $1,265 and $1,309, respectively) (l) (m)		298,735		298,691	3.10	%	14.3
Other		12		13
Deferred financing costs		(22,489)		(21,652)
Total Unsecured Debt, net		3,653,934		3,558,083	3.26	%	7.4
Total Debt, net	$	4,766,804	$	4,707,524	3.24	%	7.0

United Dominion Realty L.P.

Entity information

Schedule of debt instruments

	Principal Outstanding				As of June 30, 2020
							Weighted
					Weighted		Average
	June 30,		December 31,		Average		Years to	Communities
	2020		2019		Interest Rate		Maturity	Encumbered
Fixed Rate Debt
Mortgage note payable	$	72,500	$	72,500	3.10	%	9.6	1
Deferred financing costs		(347)		(365)
Total fixed rate secured debt, net		72,153		72,135	3.10	%	9.6	1
Variable Rate Debt
Tax-exempt secured note payable	$	27,000	$	27,000	0.85	%	11.7	1
Deferred financing costs		(71)		(64)
Total variable rate secured debt, net		26,929		26,936	0.85	%	11.7	1
Total Secured Debt, Net	$	99,082	$	99,071	2.54	%	10.2	2