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Notes and Bonds Payable (Tables)
 12 Months Ended
Dec. 31, 2012
Debt Instrument [Line Items]  
Notes and bonds payable details
The table below details the Company’s notes and bonds payable. 
 
December 31,
Maturity
Dates
 
Contractual
Interest Rates
 
Principal
Payments
 
Interest
Payments
(Dollars in thousands)
2012
 
2011
 
 
Unsecured Credit Facility
$
110,000

 
212,000

2/17
 
LIBOR + 1.40%
 
At maturity
 
Quarterly
Senior Notes due 2014, net of discount
264,522

 
264,371

4/14
 
5.125%
 
At maturity
 
Semi-Annual
Senior Notes due 2017, net of discount
298,728

 
298,465

1/17
 
6.500%
 
At maturity
 
Semi-Annual
Senior Notes due 2021, net of discount
397,307

 
397,052

1/21
 
5.750%
 
At maturity
 
Semi-Annual
Mortgage notes payable, net of discount and including premiums
222,487

 
221,649

4/13-10/30
 
5.000%-7.625%
 
Monthly
 
Monthly
 
$
1,293,044

 
$
1,393,537

 
 
 
 
 
 
 
Further details of the Company's mortgage notes payable
The following table details the Company’s mortgage notes payable, with related collateral.  
 
Original Balance
 
Effective
Interest
Rate
(19)
 
Maturity
Date
 
Collateral
(20)
 
Principal and Interest
Payments (14)
 
Investment in Collateral at December 31,
 
Balance at December 31,
(Dollars in millions)
 
 
 
 
 
2012
 
2012
 
2011
Life Insurance Co.
$
4.7

 
7.765
%
 
1/17
 
MOB
 
Monthly/20-yr amort.
 
$
11.8

 
$
1.6

 
$
1.9

Commercial Bank
1.8

 
5.550
%
 
10/30
 
OTH
 
Monthly/27-yr amort.
 
7.9

 
1.6

 
1.6

Life Insurance Co.
15.1

 
5.490
%
 
1/16
 
MOB
 
Monthly/10-yr amort.
 
32.7

 
12.7

 
13.1

Commercial Bank (1)
17.4

 
6.480
%
 
5/15
 
MOB
 
Monthly/10-yr amort.
 
19.9

 
14.6

 
14.5

Commercial Bank (2)
12.0

 
6.110
%
 
7/15
 
2 MOBs
 
Monthly/10-yr amort.
 
19.5

 
9.9

 
9.8

Commercial Bank (3)
15.2

 
7.650
%
 
7/20
 
MOB
 
(15)
 
20.2

 
12.8

 
12.8

Life Insurance Co. (4)
1.5

 
6.810
%
 
7/16
 
MOB
 
Monthly/9-yr amort.
 
2.2

 
1.1

 
1.1

Commercial Bank (5)
12.9

 
6.430
%
 
2/21
 
MOB
 
Monthly/12-yr amort.
 
20.6

 
11.3

 
11.4

Investment Fund
80.0

 
7.250
%
 
12/16
 
15 MOBs
 
Monthly/30-yr amort.(16)
 
155.8

 
77.5

 
78.4

Life Insurance Co.
7.0

 
5.530
%
 
1/18
 
MOB
 
Monthly/15-yr amort.
 
14.6

 
3.0

 
3.5

Investment Co. (6)
15.9

 
6.550
%
 
(17)
 
MOB
 
Monthly/30-yr amort
 
23.4

 
14.9

 
15.2

Investment Co.
4.6

 
5.250
%
 
9/15
 
MOB
 
Monthly/10-yr amort.
 
6.9

 
4.2

 
4.3

Life Insurance Co. (7)
13.9

 
4.700
%
 
1/16
 
MOB
 
Monthly/25-yr amort.
 
26.4

 
11.9

 
12.4

Life Insurance Co. (8)
21.5

 
4.700
%
 
8/15
 
MOB
 
Monthly/25-yr amort.
 
44.0

 
18.1

 
18.8

Insurance Co. (9)
7.3

 
5.100
%
 
12/18
 
MOB
 
Monthly/25-yr amort.
 
14.6

 
7.3

 
7.5

Commercial Bank (10)
8.1

 
4.540
%
 
8/16
 
MOB
 
Monthly/10-yr amort.
 
15.4

 
7.8

 
7.7

Life Insurance Co. (11) (12)
5.3

 
4.060
%
 
11/14
 
MOB
 
Monthly/25-yr amort.
 
11.6

 
4.5

 
4.8

Life Insurance Co. (13)
3.1

 
4.060
%
 
11/14
 
MOB
 
Monthly/25-yr amort.
 
6.7

 
2.6

 
2.8

Life Insurance Co. (18)
7.9

 
4.000
%
 
8/20
 
MOB
 
Monthly/15-yr amort.
 
20.7

 
5.1

 
—

 
 
 
 
 
 
 
 
 
 
 
$
474.9

 
$
222.5

 
$
221.6

 
(1)
The unaccreted portion of a $2.7 million discount recorded on this note upon acquisition is included in the balance above.
(2)
The unaccreted portion of a $2.1 million discount recorded on this note upon acquisition is included in the balance above.
(3)
The unaccreted portion of a $2.4 million discount recorded on this note upon acquisition is included in the balance above.
(4)
The unaccreted portion of a $0.2 million discount recorded on this note upon acquisition is included in the balance above.
(5)
The unaccreted portion of a $1.0 million discount recorded on this note upon acquisition is included in the balance above.
(6)
The unamortized portion of a $0.5 million premium recorded on this note upon acquisition is included in the balance above.
(7)
The unamortized portion of a $0.3 million premium recorded on this note upon acquisition is included in the balance above.
(8)
The unamortized portion of a $0.4 million premium recorded on this note upon acquisition is included in the balance above.
(9)
The unamortized portion of the $0.6 million premium recorded on this note upon acquisition is included in the balance above.
(10)
The unamortized portion of the $0.5 million premium recorded on this note upon acquisition is included in the balance above.
(11)
Balance consists of two notes secured by the same building.
(12)
The unamortized portions of the $0.3 million premium recorded on these notes upon acquisition are included in the balance above.
(13)
The unamortized portion of the $0.2 million premium recorded on this note upon acquisition is included in the balance above.
(14)
Payable in monthly installments of principal and interest with the final payment due at maturity (unless otherwise noted).
(15)
Payable in monthly installments of interest only for 24 months and then installments of principal and interest based on an 11-year amortization with the final payment due at maturity.
(16)
The Company has the option to extend the maturity for two, one-year floating rate extension terms.
(17)
The Company repaid this mortgage note payable on February 14, 2013.
(18)
The unamortized portion of a $0.3 million premium recorded on this note upon acquisition is included in the balance above.
(19)
The contractual interest rates for the twenty outstanding mortgage notes ranged from 5.0% to 7.625% as of December 31, 2012.
(20)
MOB-Medical office building; OTH-Other.
Future contractual maturities of the Company's notes and bonds payable
Future maturities of the Company’s notes and bonds payable as of December 31, 2012 were as follows: 
(Dollars in thousands)
Principal
Maturities
 
Net Accretion/
Amortization (1)
 
Notes and Bonds Payable
 
%
2013
$
20,258

 
$
(1,164
)
 
$
19,094

 
1.5
%
2014
276,899

 
(1,234
)
 
275,665

 
21.3
%
2015
50,357

 
(1,053
)
 
49,304

 
3.8
%
2016
106,992

 
(798
)
 
106,194

 
8.2
%
2017
412,132

 
(591
)
 
411,541

 
31.8
%
2018 and thereafter
433,341

 
(2,095
)
 
431,246

 
33.4
%
 
$
1,299,979

 
$
(6,935
)
 
$
1,293,044

 
100.0
%

(1)
Includes discount accretion and premium amortization related to the Company’s Senior Notes due 2014, Senior Notes due 2017, Senior Notes due 2021, and fourteen mortgage notes payable.
Senior Notes [Member] | 5.125% Senior Notes Due 2014 [Member]
  
Debt Instrument [Line Items]  
Notes and bonds payable details
The following table reconciles the balance of the Senior Notes due 2014 on the Company’s Consolidated Balance Sheets as of December 31, 2012 and 2011.
 
 
December 31,
(Dollars in thousands)
2012
 
2011
Senior Notes due 2014 face value
$
264,737

 
$
264,737

Unaccreted discount
(215
)
 
(366
)
Senior Notes due 2014 carrying amount
$
264,522

 
$
264,371
Senior Notes [Member] | 6.500% Senior Notes Due 2017 [Member]
  
Debt Instrument [Line Items]  
Notes and bonds payable details
The following table reconciles the balance of the Senior Notes due 2017 on the Company’s Consolidated Balance Sheets as of December 31, 2012 and 2011.  
 
December 31,
(Dollars in thousands)
2012
 
2011
Senior Notes due 2017 face value
$
300,000

 
$
300,000

Unaccreted discount
(1,272
)
 
(1,535
)
Senior Notes due 2017 carrying amount
$
298,728

 
$
298,465
Senior Notes [Member] | 5.750% Senior Notes Due 2021 [Member]
  
Debt Instrument [Line Items]  
Notes and bonds payable details
The following table reconciles the balance of the Senior Notes due 2021 on the Company’s Consolidated Balance Sheets as of December 31, 2012 and 2011.  
 
December 31,
(Dollars in thousands)
2012
 
2011
Senior Notes due 2021 face value
$
400,000

 
$
400,000

Unaccreted discount
(2,693
)
 
(2,948
)
Senior Notes due 2021 carrying amount
$
397,307

 
$
397,052
Mortgage notes payable [Member] | 5.000%-7.625% Mortgage Notes Payable [Member]
  
Debt Instrument [Line Items]  
Notes and bonds payable details
 
December 31,
(Dollars in thousands)
2012
 
2011
Mortgage notes payable principal balance
$
225,242

 
$
225,377

Unaccreted discount, net of premium
(2,755
)
 
(3,728
)
Mortgage notes payable carrying amount
$
222,487

 
$
221,649