Notes and Bonds Payable

3 Months Ended

Mar. 31, 2018

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)		March 31, 2018		December 31, 2017		March 31, 2018
Unsecured Credit Facility	7/20	$	213,000	$	189,000	2.88	%
Unsecured Term Loan Facility, net of issuance costs (1)	12/22	149,030		148,994		3.23	%
Senior Notes due 2023, net of discount and issuance costs	4/23	247,806		247,703		3.95	%
Senior Notes due 2025, net of discount and issuance costs (2)	5/25	248,101		248,044		4.08	%
Senior Notes due 2028, net of discount and issuance costs	1/28	294,869		294,757		3.84	%
Mortgage notes payable, net of discounts and issuance costs and including premiums	12/18-5/40	154,145		155,382		4.82	%
		$	1,306,951	$	1,283,880

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(1) The effective interest rate includes the impact of interest rate swaps on $25.0 million and $50.0 million of the outstanding balance at a rate of 2.18% and 2.46%, respectively (plus the applicable margin rate, currently 110 basis points).

(2) The effective interest rate includes the impact of the $1.7 million settlement of a forward-starting interest rate swap that is included in accumulated other comprehensive income on the Company's Condensed Consolidated Balance Sheets.