XML 83 R68.htm IDEA: XBRL DOCUMENT v3.22.0.1
Notes and Bonds Payable - Narrative (Details)
3 Months Ended 12 Months Ended
Feb. 18, 2022
USD ($)
ft²
Jun. 01, 2021
USD ($)
May 29, 2020
USD ($)
Mar. 18, 2020
USD ($)
swapAgreement
May 31, 2019
USD ($)
extensionOption
Lender
Jul. 05, 2016
USD ($)
Apr. 24, 2015
USD ($)
swapAgreement
Jun. 30, 2021
USD ($)
Jun. 30, 2019
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Oct. 02, 2020
USD ($)
Dec. 11, 2017
USD ($)
Feb. 28, 2014
USD ($)
Lender
Oct. 14, 2011
USD ($)
Debt Instrument [Line Items]                                
Unsecured term loan outstanding                   $ 1,813,664,000            
Issuance costs                   $ 9,245,000            
Mortgage Notes | Subsequent Event                                
Debt Instrument [Line Items]                                
Amount of debt repaid $ 11,000,000                              
Effective Interest rate 4.70%                              
Debt redeemed, make whole amount $ 1,600,000                              
Write off of deferred debt issuance cost $ 100,000                              
Extinguishment of Debt, Encumbered Square Footage | ft² 56,762                              
Debt Instrument, Redemption Price $ 12,600,000                              
Unamortized premium $ 800,000                              
Interest Rate Swap                                
Debt Instrument [Line Items]                                
Number of forward starting swaps | swapAgreement       2                        
Settlement of swap agreements       $ 4,300,000                        
Line of Credit | Unsecured Credit Facility                                
Debt Instrument [Line Items]                                
Unsecured credit facility                               $ 700,000,000
Number of extension options | extensionOption         2                      
Debt Instrument, Period of Extension Option         6 months                      
Extension fees as percentage of aggregate commitments         0.0625%                      
Facility fee on the aggregate amount of commitments                   0.20%            
Line of Credit | Unsecured Credit Facility | Minimum                                
Debt Instrument [Line Items]                                
Facility fee on the aggregate amount of commitments                   0.125%            
Line of Credit | Unsecured Credit Facility | Maximum                                
Debt Instrument [Line Items]                                
Facility fee on the aggregate amount of commitments                   0.30%            
Line of Credit | Unsecured Credit Facility | LIBOR                                
Debt Instrument [Line Items]                                
Percentage of interest in addition to LIBOR                   0.90%            
Contractual interest rates, basis spread on variable rate                   0.90%            
Line of Credit | Unsecured Credit Facility | LIBOR | Minimum                                
Debt Instrument [Line Items]                                
Percentage of interest in addition to LIBOR                   0.775%            
Line of Credit | Unsecured Credit Facility | LIBOR | Maximum                                
Debt Instrument [Line Items]                                
Percentage of interest in addition to LIBOR                   1.45%            
Medium-term Notes | Term Loan due 2024                                
Debt Instrument [Line Items]                                
Senior notes face value         $ 200,000,000         $ 200,000,000 $ 200,000,000       $ 200,000,000  
Number of lenders, term loan | Lender         9                   9  
Amount of debt repaid           $ 50,000,000                    
Weighted average interest rate (LOC)                   2.37%            
Contractual interest rates, basis spread on variable rate                   1.00%            
Amortization of debt issuance costs                 $ 300,000 $ 200,000 200,000 $ 200,000        
Unsecured term loan outstanding                   200,000,000            
Deferred finance costs, gross         $ 700,000                      
Issuance costs         400,000         $ 540,000 764,000          
Medium-term Notes | Term Loan due 2024 | Interest Rate Swap                                
Debt Instrument [Line Items]                                
Effective Interest rate                   1.95%            
Derivative notional amount                   $ 75,000,000            
Medium-term Notes | Term Loan due 2024 | Minimum                                
Debt Instrument [Line Items]                                
Contractual interest rates, basis spread on variable rate                   0.85%            
Medium-term Notes | Term Loan due 2024 | Maximum                                
Debt Instrument [Line Items]                                
Contractual interest rates, basis spread on variable rate                   1.65%            
Medium-term Notes | Term Loan due 2024 | LIBOR                                
Debt Instrument [Line Items]                                
Contractual interest rates, basis spread on variable rate                   1.00%            
Medium-term Notes | Term Loan due 2022                                
Debt Instrument [Line Items]                                
Senior notes face value         $ 150,000,000                      
Medium-term Notes | Term Loan due 2026                                
Debt Instrument [Line Items]                                
Senior notes face value                   $ 150,000,000 150,000,000          
Weighted average interest rate (LOC)                   2.23%            
Delayed draw feature period         9 months                      
Proceeds from draw on term loan     $ 150,000,000                          
Effective Interest rate                   248.00%            
Amortization of debt issuance costs                   $ 100,000 100,000          
Anticipated amount of investment         $ 150,000,000                      
Payment of up front fees   $ 500,000                            
Capitalized up front fees   $ 200,000                            
Debt administration fee               $ 300,000                
Unsecured term loan outstanding                   150,000,000            
Issuance costs                   624,000 521,000          
Medium-term Notes | Term Loan due 2026 | Interest Rate Swap                                
Debt Instrument [Line Items]                                
Derivative notional amount                   $ 100,000,000            
Medium-term Notes | Term Loan due 2026 | Minimum                                
Debt Instrument [Line Items]                                
Contractual interest rates, basis spread on variable rate                   1.45%            
Medium-term Notes | Term Loan due 2026 | Maximum                                
Debt Instrument [Line Items]                                
Contractual interest rates, basis spread on variable rate                   2.40%            
Medium-term Notes | Term Loan due 2026 | LIBOR                                
Debt Instrument [Line Items]                                
Contractual interest rates, basis spread on variable rate                   0.95%            
Effective Interest rate                   0.95%            
Medium-term Notes | Term Loan due 2026 | LIBOR | Minimum                                
Debt Instrument [Line Items]                                
Effective Interest rate   0.80%                            
Medium-term Notes | Term Loan due 2026 | LIBOR | Maximum                                
Debt Instrument [Line Items]                                
Effective Interest rate   1.60%                            
Senior Notes | Senior Notes due 2025                                
Debt Instrument [Line Items]                                
Senior notes face value             $ 250,000,000     $ 250,000,000 250,000,000          
Effective Interest rate             4.08%                  
Amortization of debt issuance costs                   200,000 200,000 200,000        
Deferred finance costs, gross             $ 2,300,000                  
Issuance costs                   $ 882,000 1,124,000          
Interest rate on senior notes             3.875%     3.88%            
Unaccreted discount             $ 200,000     $ 78,000 100,000          
Number of forward starting swaps | swapAgreement             4                  
Senior Notes | Senior Notes due 2025 | Interest Rate Swap                                
Debt Instrument [Line Items]                                
Settlement of swap agreements             $ 1,700,000                  
Senior Notes | Senior Notes due 2028                                
Debt Instrument [Line Items]                                
Senior notes face value                   300,000,000 300,000,000     $ 300,000,000    
Effective Interest rate                           3.84%    
Amortization of debt issuance costs                   300,000            
Deferred finance costs, gross                           $ 2,700,000    
Issuance costs                   $ 1,751,000 2,005,000          
Interest rate on senior notes                   3.63%       3.625%    
Unaccreted discount                   $ 1,637,000 1,872,000     $ 2,500,000    
Amount of amortization included in interest expense on the Company's consolidated Statements of operations                   200,000            
Senior Notes | Senior Notes due 2030                                
Debt Instrument [Line Items]                                
Senior notes face value       $ 300,000,000           300,000,000 300,000,000          
Effective Interest rate       2.71%                        
Amortization of debt issuance costs                   300,000            
Deferred finance costs, gross       $ 2,800,000                        
Issuance costs                   $ 2,343,000 2,597,000          
Interest rate on senior notes       2.40%           2.40%            
Unaccreted discount       $ 1,000,000           $ 844,000 935,000          
Amount of amortization included in interest expense on the Company's consolidated Statements of operations                   100,000            
Senior Notes | Senior Notes due 2031                                
Debt Instrument [Line Items]                                
Senior notes face value                   300,000,000 300,000,000   $ 300,000,000      
Effective Interest rate                         2.24%      
Amortization of debt issuance costs                   200,000            
Deferred finance costs, gross                         $ 2,800,000      
Issuance costs                   $ 2,455,000 2,694,000          
Interest rate on senior notes                   2.05%     2.05%      
Unaccreted discount                   $ 2,171,000 2,382,000   $ 2,400,000      
Amount of amortization included in interest expense on the Company's consolidated Statements of operations                   $ 200,000            
Mortgage Notes | Minimum                                
Debt Instrument [Line Items]                                
Interest rate on senior notes                   3.30%            
Mortgage Notes | Maximum                                
Debt Instrument [Line Items]                                
Interest rate on senior notes                   6.20%            
Mortgage Notes | Mortgage Notes Payable                                
Debt Instrument [Line Items]                                
Senior notes face value                   $ 103,664,000 117,221,000          
Amortization of debt issuance costs                   300,000 200,000 200,000        
Issuance costs                   651,000 758,000          
Unaccreted discount                   83,000 150,000          
Amortization of debt discount                   100,000 400,000 600,000        
Amortization of debt premium                   500,000 400,000 $ 400,000        
Unamortized premium                   $ 1,720,000 $ 1,450,000          
Mortgage Notes | Mortgage Notes Payable | Minimum                                
Debt Instrument [Line Items]                                
Interest rate on senior notes                   3.31%            
Mortgage Notes | Mortgage Notes Payable | Maximum                                
Debt Instrument [Line Items]                                
Interest rate on senior notes                   6.17%            
Up-front Payment Arrangement | Unsecured Credit Facility                                
Debt Instrument [Line Items]                                
Effective Interest rate                   1.00%            
Remaining borrowing capacity                   $ 490,000,000            
Up-front Payment Arrangement | Line of Credit | Unsecured Credit Facility                                
Debt Instrument [Line Items]                                
Fee amount                   3,500,000            
Unsecured term loan outstanding                   $ 210,000,000