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Senior Unsecured Notes and Secured Debt (Tables)
 12 Months Ended
Dec. 31, 2018
Long-term Debt, by Current and Noncurrent [Abstract]  
Principal payments due on debt obligations At December 31, 2018, the annual principal payments due on these debt obligations were as follows (in thousands):
 
 
Senior
Unsecured Notes(1,2)
 
Secured
Debt (1,3)
 
Totals
2019
 
$
600,000

 
$
508,899

 
$
1,108,899

2020(4)
 
677,489

 
138,288

 
815,777

2021
 
450,000

 
369,124

 
819,124

2022
 
600,000

 
280,418

 
880,418

2023(5,6)
 
1,783,325

 
325,371

 
2,108,696

Thereafter(7,8)
 
5,589,170

 
863,611

 
6,452,781

Totals
 
$
9,699,984

 
$
2,485,711

 
$
12,185,695

(1) Amounts represent principal amounts due and do not include unamortized premiums/discounts, debt issuance costs, or other fair value adjustments as reflected on the Consolidated Balance Sheet.
(2) Annual interest rates range from 3.05% to 6.50%.
(3) Annual interest rates range from 1.69% to 12.00%. Carrying value of the properties securing the debt totaled $5,347,428,000 at December 31, 2018.
(4) Includes a $300,000,000 Canadian-denominated 3.35% senior unsecured notes due 2020 (approximately $219,989,000 based on the Canadian/U.S. Dollar exchange rate on December 31, 2018).
(5) Includes a $250,000,000 Canadian-denominated unsecured term credit facility (approximately $183,325,000 based on the Canadian/U.S. Dollar exchange rate on December 31, 2018). The loan matures on July 19, 2023 and bears interest at the Canadian Dealer Offered Rate plus 0.9% (3.15% at December 31, 2018).
(6) Includes a $500,000,000 unsecured term credit facility. The loan matures on July 19, 2023 and bears interest at LIBOR plus 0.9% (3.37% at December 31, 2018).
(7) Includes a £550,000,000 4.80% senior unsecured notes due 2028 (approximately $701,470,000 based on the Pounds Sterling/U.S. Dollar exchange rate in effect on December 31, 2018).
(8) Includes a £500,000,000 4.50% senior unsecured notes due 2034 (approximately $637,700,000 based on the Pounds Sterling/U.S. Dollar exchange rate in effect on December 31, 2018).

The following is a summary of our senior unsecured note principal activity during the periods presented (dollars in thousands):
 
 
Year Ended
 
 
December 31, 2018
 
December 31, 2017
 
December 31, 2016
 
 
 
 
Weighted Avg.
 
 
 
Weighted Avg.
 
 
 
Weighted Avg.
 
 
Amount
 
Interest Rate
 
Amount
 
Interest Rate
 
Amount
 
Interest Rate
Beginning balance
 
$
8,417,447

 
4.31%
 
$
8,260,038

 
4.25%
 
$
8,645,758

 
4.24%
Debt issued
 
2,850,000

 
4.57%
 
7,500

 
1.97%
 
705,000

 
4.23%
Debt extinguished
 
(1,450,000
)
 
3.46%
 
(5,000
)
 
1.83%
 
(850,000
)
 
4.19%
Foreign currency
 
(117,463
)
 
4.16%
 
154,909

 
4.29%
 
(240,720
)
 
4.57%
Ending balance
 
$
9,699,984

 
4.48%
 
$
8,417,447

 
4.31%
 
$
8,260,038

 
4.25%
 
The following is a summary of our secured debt principal activity for the periods presented (dollars in thousands):
 
 
Year Ended
 
 
December 31, 2018
 
December 31, 2017
 
December 31, 2016
 
 
 
 
Weighted Avg.
 
 
 
Weighted Avg.
 
 
 
Weighted Avg.
 
 
Amount
 
Interest Rate
 
Amount
 
Interest Rate
 
Amount
 
Interest Rate
Beginning balance
 
$
2,618,408

 
3.76%
 
$
3,465,066

 
4.09%
 
$
3,478,207

 
4.44%
Debt issued
 
45,447

 
3.40%
 
241,772

 
2.82%
 
460,015

 
2.65%
Debt assumed
 
292,887

 
4.64%
 
23,094

 
6.67%
 
60,898

 
4.30%
Debt extinguished
 
(306,553
)
 
5.36%
 
(1,080,268
)
 
5.25%
 
(489,293
)
 
5.11%
Debt deconsolidated
 
—

 
—%
 
(60,000
)
 
3.80%
 
—

 
—%
Principal payments
 
(56,288
)
 
3.91%
 
(64,078
)
 
4.34%
 
(74,466
)
 
4.66%
Foreign currency
 
(108,190
)
 
3.33%
 
92,822

 
3.16%
 
29,705

 
3.67%
Ending balance
 
$
2,485,711

 
3.90%
 
$
2,618,408

 
3.76%
 
$
3,465,066

 
4.09%