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Indebtedness
9 Months Ended
Sep. 30, 2018
Debt Disclosure [Abstract]  
Indebtedness

7.

Indebtedness

Secured Financing

In contemplation of the spin-off transaction, which occurred on July 1, 2018 (Note 1), certain wholly-owned subsidiaries of RVI, entered into a loan agreement in February 2018 which provided for a secured loan facility with an initial aggregate principal amount of $1.35 billion.  This loan was assumed by RVI in connection with the consummation of the spin-off of RVI.

Debt Repayments

In the first quarter of 2018, in connection with the $1.35 billion RVI mortgage loan and asset sales, the Company repaid $900.0 million aggregate principal amount of senior unsecured notes with maturity dates ranging from July 2018 to February 2025 through a tender offer, and subsequent optional redemption, $452.5 million of mortgage debt and $200.0 million of an unsecured term loan.  In connection with the redemption of the senior unsecured notes, the Company paid make-whole amounts totaling $28.4 million.  These make-whole amounts are included in Other Income (Expense), net in the Company’s consolidated statements of operations.

Scheduled Principal Repayments

The scheduled principal payments of the Revolving Credit Facilities (Note 6) and unsecured and secured indebtedness, excluding extension options, as of September 30, 2018, are as follows (in thousands):

Year

 

Amount

 

2018

 

$

1,223

 

2019

 

 

97,241

 

2020

 

 

41,684

 

2021

 

 

120,851

 

2022

 

 

480,851

 

Thereafter

 

 

1,654,107

 

 

 

 

2,395,957

 

Unamortized fair market value of assumed debt

 

 

1,794

 

Net unamortized debt issuance costs

 

 

(12,749

)

Total indebtedness

 

$

2,385,002