Debt (Tables)

3 Months Ended

Mar. 31, 2020

Debt Instrument [Line Items]

Summary of Mortgage Notes Payable Activity

The following table summarizes the Company’s mortgage notes payable activity for the quarter ended March 31, 2020 (amounts in thousands):

	Mortgage notes payable, net as of December 31, 2019		Proceeds		Lump sum payoffs		Scheduled principal repayments			Amortization of premiums/ discounts		Amortization of deferred financing costs, net (1)		Mortgage notes payable, net as of March 31, 2020
Fixed Rate Debt:
Secured – Conventional	$	1,574,699	$	—	$	—	$	(1,941	)	$	285	$	293	$	1,573,336
Floating Rate Debt:
Secured – Conventional		7,050		78		—		—			—		60		7,188
Secured – Tax Exempt		359,861		—		—		—			310		50		360,221
Floating Rate Debt		366,911		78		—		—			310		110		367,409
Total	$	1,941,610	$	78	$	—	$	(1,941	)	$	595	$	403	$	1,940,745

(1) Represents amortization of deferred financing costs, net of debt financing costs.  

Summary of Notes Activity

The following table summarizes the Company’s notes activity for the quarter ended March 31, 2020 (amounts in thousands):

	Notes, net as of December 31, 2019		Proceeds		Lump sum payoffs		Amortization of premiums/ discounts		Amortization of deferred financing costs, net (1)		Notes, net as of March 31, 2020
Fixed Rate Debt:
Unsecured – Public	$	6,077,513	$	—	$	—	$	681	$	1,114	$	6,079,308

(1) Represents amortization of deferred financing costs, net of debt financing costs.

Schedule of Unsecured Revolving Credit Facility

The following table presents the availability on the Company’s unsecured revolving credit facility as of March 31, 2020 (amounts in thousands):

	March 31, 2020
Unsecured revolving credit facility commitment	$	2,500,000
Commercial paper balance outstanding		(613,000	)
Unsecured revolving credit facility balance outstanding		—
Other restricted amounts		(100,949	)
Unsecured revolving credit facility availability	$	1,786,051

Mortgages [Member]

Debt Instrument [Line Items]

Summary of Certain Interest Rate and Maturity Date Information

The following table summarizes certain interest rate and maturity date information as of and for the quarter ended March 31, 2020:

	March 31, 2020
Interest Rate Ranges	0.10% - 5.29%
Weighted Average Interest Rate	3.73%
Maturity Date Ranges	2020-2061

Notes [Member]

Debt Instrument [Line Items]

Summary of Certain Interest Rate and Maturity Date Information

The following table summarizes certain interest rate and maturity date information as of and for the quarter ended March 31, 2020:

	March 31, 2020
Interest Rate Ranges	2.50% - 7.57%
Weighted Average Interest Rate	4.05%
Maturity Date Ranges	2021-2047