Notes and Bonds Payable (Tables)

3 Months Ended

Mar. 31, 2020

Debt Disclosure [Abstract]

Schedule of Debt

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

	MATURITY DATES	BALANCE AS OF				EFFECTIVE INTEREST RATE as of 3/31/2020
Dollars in thousands		3/31/2020		12/31/2019
$700 million Unsecured Credit Facility	5/23	$	215,000	$	293,000	1.89	%
$200 million Unsecured Term Loan Facility, net of issuance costs 1	5/24	199,069		199,013		3.20	%
$150 million Unsecured Term Loan due 2026 2	6/26	—		—		N/A
Senior Notes due 2023, net of discount and issuance costs	4/23	248,647		248,540		3.95	%
Senior Notes due 2025, net of discount and issuance costs 3	5/25	248,584		248,522		4.08	%
Senior Notes due 2028, net of discount and issuance costs	1/28	295,768		295,651		3.84	%
Senior Notes due 2030, net of discount and issuance costs 4	3/30	296,211		—		2.71	%
Mortgage notes payable, net of discounts and issuance costs and including premiums	7/20-5/40	141,175		129,343		4.70	%
		$	1,644,454	$	1,414,069

1 The effective interest rate includes the impact of interest rate swaps on $175.0 million at a weighted average rate of 2.29% (plus the applicable margin rate, currently 100 basis points).

2 As of March 31, 2020, there were no outstanding loans under the $150.0 million unsecured term loan due June 2026. This term loan has a delayed draw feature that allows the Company until May 29, 2020 to draw against the commitments.

3 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 loss on the Company's Condensed Consolidated Balance Sheets.

4

The effective interest rate includes the impact of the $4.3 million settlement of a forward-starting interest rate swap that is included in Accumulated other comprehensive loss on the Company's Condensed Consolidated Balance Sheets.