XML 102 R86.htm IDEA: XBRL DOCUMENT v3.20.2
DEBT, NET (UNITED DOMINION REALTY, L.P.) (Tables)
9 Months Ended
Sep. 30, 2020
Entity information  
Schedule of debt instruments

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

Principal Outstanding

As of September 30, 2020

Weighted

Weighted

Average

Average

Number of

September 30, 

December 31, 

Interest

Years to

Communities

    

2020

    

2019

    

Rate

    

Maturity

    

Encumbered

Secured Debt:

  

  

  

  

  

Fixed Rate Debt

 

  

 

  

 

  

 

  

 

  

Mortgage notes payable (a)

$

892,291

$

884,869

 

3.36

%  

7.1

 

13

Credit facilities (b)

 

 

204,590

 

%  

 

Deferred financing costs and other non-cash adjustments (b)

 

13,866

 

33,046

 

  

 

  

 

  

Total fixed rate secured debt, net

 

906,157

 

1,122,505

 

3.36

%  

7.1

 

13

Variable Rate Debt

 

  

 

  

 

  

 

  

 

  

Tax-exempt secured notes payable (c)

 

27,000

 

27,000

 

0.77

%  

11.5

 

1

Deferred financing costs

 

(70)

 

(64)

 

  

 

  

 

  

Total variable rate secured debt, net

 

26,930

 

26,936

 

0.77

%  

11.5

 

1

Total Secured Debt, net

 

933,087

 

1,149,441

 

3.28

%  

7.3

 

14

Unsecured Debt:

 

  

 

  

 

  

 

  

 

  

Variable Rate Debt

 

  

 

  

 

  

 

  

 

  

Borrowings outstanding under unsecured credit facility due January 2023 (d) (n)

 

 

 

%  

2.3

 

  

Borrowings outstanding under unsecured commercial paper program due October 2020 (e) (n)

230,000

300,000

0.30

%  

0.1

Borrowings outstanding under unsecured working capital credit facility due January 2021 (f)

 

22,086

 

16,583

 

0.97

%  

1.3

 

  

Term Loan due September 2023 (d) (n)

 

35,000

 

35,000

 

1.06

%  

3.0

 

  

Fixed Rate Debt

 

  

 

  

 

  

 

  

 

  

Term Loan due September 2023 (d) (n)

315,000

 

315,000

 

2.55

%  

3.0

3.75% Medium-Term Notes due July 2024 (net of discounts of $239 and $470, respectively) (g) (n)

 

182,867

 

299,530

 

3.69

%  

3.8

 

  

8.50% Debentures due September 2024

 

15,644

 

15,644

 

8.50

%  

4.0

 

  

4.00% Medium-Term Notes due October 2025 (net of discounts of $344 and $396, respectively) (h) (n)

 

299,656

 

299,604

 

4.53

%  

5.0

 

  

2.95% Medium-Term Notes due September 2026 (n)

 

300,000

 

300,000

 

2.95

%  

5.9

 

  

3.50% Medium-Term Notes due July 2027 (net of discounts of $476 and $529, respectively) (n)

299,524

299,471

3.50

%  

6.8

3.50% Medium-Term Notes due January 2028 (net of discounts of $865 and $954, respectively) (n)

299,135

299,046

3.50

%  

7.3

4.40% Medium-Term Notes due January 2029 (net of discounts of $5 and $5, respectively) (i) (n)

299,995

299,995

4.27

%  

8.3

3.20% Medium-Term Notes due January 2030 (net of premiums of $12,756 and $2,281, respectively) (j) (n)

612,756

402,281

3.32

%  

9.3

3.00% Medium-Term Notes due August 2031 (net of discounts of $1,051 and $1,123, respectively) (k) (n)

398,949

398,877

3.01

%  

10.9

2.10% Medium-Term Notes due August 2032 (net of discounts of $417 and $0, respectively) (l) (n)

399,583

2.10

%  

11.8

3.10% Medium-Term Notes due November 2034 (net of discounts of $1,243 and $1,309, respectively) (m) (n)

298,757

298,691

3.13

%  

14.1

Other

 

11

 

13

 

  

 

  

 

  

Deferred financing costs

 

(24,404)

 

(21,652)

 

  

 

  

 

  

Total Unsecured Debt, net

 

3,984,559

 

3,558,083

 

3.08

%  

7.7

 

  

Total Debt, net

$

4,917,646

$

4,707,524

 

3.01

%  

7.6

 

  

United Dominion Realty L.P.  
Entity information  
Schedule of debt instruments

Principal Outstanding

As of September 30, 2020

Weighted

Weighted

Average

September 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

%  

9.3

 

1

Deferred financing costs

 

(337)

 

(365)

 

  

 

  

 

  

Total fixed rate secured debt, net

 

72,163

 

72,135

 

3.10

%  

9.3

 

1

Variable Rate Debt

 

  

 

  

 

  

 

  

 

  

Tax-exempt secured note payable

$

27,000

$

27,000

 

0.77

%  

11.5

 

1

Deferred financing costs

 

(70)

 

(64)

 

  

 

  

 

  

Total variable rate secured debt, net

 

26,930

 

26,936

 

0.77

%  

11.5

 

1

Total Secured Debt, Net

$

99,093

$

99,071

 

2.52

%  

9.9

 

2