Debt (Tables)

12 Months Ended

Dec. 31, 2016

Debt Disclosure [Abstract]

Schedule of Debt

A summary of the Company's consolidated indebtedness is as follows (dollars in thousands):

	Effective Interest Rate, December 31,		Maturity Date at December 31, 2016	Carrying Value, December 31,
	2016	2015		2016			2015
Mortgages Payable
Core Fixed Rate	3.88%-6.65%	3.50%-6.65%	July 2016 - April 2035	$	234,875		$	301,340
Core Variable Rate - Swapped (a)	1.71%-3.77%	1.75%-3.77%	September 2022 - June 2026	82,250			72,444
Total Core Mortgages Payable				317,125			373,784
Fund II Fixed Rate	1.00%-5.80%	1.00%-5.80%	October 2017 - May 2020	249,762			249,762
Fund II Variable Rate	LIBOR+0.62%-LIBOR+2.50%	LIBOR+1.39%-LIBOR+3.02%	August 2017 - November 2021	142,750			111,500
Fund II Variable Rate - Swapped (a)	2.88%	2.88%	November 2021	19,779			19,984
Total Fund II Mortgages Payable				412,291			381,246
Fund III Variable Rate	Prime+0.50%-LIBOR+4.65%	Prime+0.50%-LIBOR+4.65%	March 2017 - December 2021	83,467			164,280
Fund IV Fixed Rate	3.4%-4.50%	4.5%	October 2025-June 2026	10,503			1,120
Fund IV Variable Rate	LIBOR+1.70%-LIBOR+3.95%	LIBOR+1.70%-LIBOR+3.00%	May 2017 - January 2021	233,139			123,920
Fund IV Variable Rate - Swapped (a)	1.78%	1.78%	May 2019	14,509			14,904
Total Fund IV Mortgages Payable				258,151			139,944
Net unamortized debt issuance costs				(16,642		)	(10,567		)
Unamortized premium				1,336			1,364
Total Mortgages Payable				$	1,055,728		$	1,050,051
Unsecured Notes Payable
Core Unsecured Term Loans	LIBOR+1.30%-LIBOR+1.60%	LIBOR+1.30%-LIBOR+1.60%	November 2019 - December 2022	$	51,194		$	841
Core Variable Rate Unsecured Term Loans - Swapped (a)	1.24%-3.77%	1.31%-3.77%	July 2018 - March 2025	248,806			149,159
Total Core Unsecured Notes Payable				300,000			150,000
Fund II Subscription Facility	LIBOR+2.75%	LIBOR+2.75%	October 2016	—			12,500
Fund IV Term Loan/Subscription Facility	LIBOR+1.65%-LIBOR+2.75%	LIBOR+1.65%-LIBOR+2.75%	February 2017- November 2017	134,636			126,410
Net unamortized debt issuance costs				(1,646		)	(1,155		)
Total Unsecured Notes Payable				$	432,990		$	287,755
Unsecured Line of Credit
Core Unsecured Line of Credit	LIBOR+1.40%	LIBOR+1.40%	June 2020	$	—		$	20,800
Total Unsecured Line of Credit				$	—		$	20,800
Total Debt - Fixed and Effectively Fixed Rate				$	860,486		$	552,222
Total Debt - Variable Rate				645,185			816,740
Net unamortized debt issuance costs				(18,289		)	(11,720		)
Unamortized premium				1,336			1,364
Total Indebtedness				$	1,488,718		$	1,358,606

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(a) At December 31, 2016, the stated rates ranged from LIBOR + 1.08% to LIBOR +1.90% for Core Variable rate debt; LIBOR + 1.70% to LIBOR +1.70% for Fund II Variable rate debt; LIBOR + 2.15% to LIBOR +2.15% for Fund IV rate debt; and LIBOR + 1.30% to LIBOR +1.60% for Core variable rate unsecured notes.

Schedule of Maturities of Long-term Debt

The scheduled principal repayments of the Company's consolidated indebtedness, as of December 31, 2016 are as follows (in thousands):

2017	$	395,999
2018	69,753
2019	205,295
2020	321,559
2021	253,927
Thereafter	259,138
	1,505,671
Unamortized fair market value of assumed debt	1,336
Net unamortized debt issuance costs	(18,289		)
Total indebtedness	$	1,488,718