Notes and Bonds Payable

6 Months Ended

Jun. 30, 2017

Debt Disclosure [Abstract]

Notes and Bonds Payable

Notes and Bonds Payable

The table below details the Company’s notes and bonds payable.

	Maturity Dates	Balance as of				Effective Interest Rate as of
(Dollars in thousands)		June 30, 2017		December 31, 2016		June 30, 2017
Unsecured Credit Facility	7/20	$	35,000	$	107,000	2.22	%
Unsecured Term Loan Facility, net of issuance costs	2/19	149,609		149,491		2.42	%
Senior Notes due 2021, net of discount and issuance costs	1/21	397,483		397,147		5.97	%
Senior Notes due 2023, net of discount and issuance costs	4/23	247,499		247,296		3.95	%
Senior Notes due 2025, net of discount and issuance costs	5/25	247,930		247,819		4.08	%
Mortgage notes payable, net of discounts and issuance costs and including premiums	1/18-5/40	125,625		115,617		5.06	%
		$	1,203,146	$	1,264,370

Changes in Debt Structure

On May 1, 2017, the Company repaid in full a mortgage note payable bearing interest at a rate of 6.50% per annum with outstanding principal of $0.2 million. The mortgage note encumbered a 60,476 square foot medical office building located in Minnesota.

On June 13, 2017, in connection with the acquisition of a 62,379 square foot medical office property in Washington D.C., the Company assumed a $12.1 million mortgage note payable (excluding a fair value premium adjustment of $0.4 million). The mortgage note payable has a contractual interest rate of 4.69% per annum (effective rate of 4.27% per annum).