Notes and Bonds Payable (Tables)

9 Months Ended

Sep. 30, 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 9/30/2020
Dollars in thousands		9/30/2020		12/31/2019
$700 million Unsecured Credit Facility	5/23	$	—	$	293,000	N/A
$200 million Unsecured Term Loan Facility, net of issuance costs 1	5/24	199,180		199,013		1.99	%
$150 million Unsecured Term Loan due 2026 2	6/26	149,455		—		3.14	%
Senior Notes due 2023, net of discount and issuance costs	4/23	248,863		248,540		3.95	%
Senior Notes due 2025, net of discount and issuance costs 3	5/25	248,711		248,522		4.08	%
Senior Notes due 2028, net of discount and issuance costs	1/28	296,003		295,651		3.84	%
Senior Notes due 2030, net of discount and issuance costs 4	3/30	296,384		—		2.71	%
Mortgage notes payable, net of discounts and issuance costs and including premiums	1/21-4/27	115,799		129,343		4.38	%
		$	1,554,395	$	1,414,069

1The effective interest rate includes the impact of interest rate swaps on $75.0 million at a weighted average rate of 2.37% (plus the applicable margin rate, currently 100 basis points).

2The effective interest rate includes the impact of interest rate swaps on $100.0 million at a weighted average rate of 2.23% (plus the applicable margin rate, currently 160 basis points).

3The 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.

4The effective interest rate includes the impact of the $4.3 million settlement of forward interest rate hedges that is included in Accumulated other comprehensive loss on the Company's Condensed Consolidated Balance Sheets.