Notes Payable and Unsecured Credit Facilities (Tables)

6 Months Ended

Jun. 30, 2018

The Company’s outstanding debt consisted of the following:



(in thousands)	Weighted Average Contractual Rate	Weighted Average Effective Rate	June 30, 2018			December 31, 2017
Notes payable:
Fixed rate mortgage loans	5.1%	4.4%	$	516,149		520,193
Variable rate mortgage loans	3.3%	3.5%	127,727		⁽¹⁾	125,866
Fixed rate unsecured public and private debt	4.0%	4.4%	2,474,126			2,325,656
Total notes payable			3,118,002			2,971,715
Unsecured credit facilities:
Line of Credit (the "Line") ⁽²⁾	2.8%	3.0%	150,000			60,000
Term loans	2.4%	2.5%	563,498			563,262
Total unsecured credit facilities			713,498			623,262
Total debt outstanding			$	3,831,500		3,594,977

⁽¹⁾ Includes five mortgages whose interest rates vary on LIBOR based formulas. Three of these variable rate loans have interest rate swaps in place to fix the interest rates at a range of 2.8% to 4.07%.
⁽²⁾ Weighted average effective and contractual rate for the Line is calculated based on a fully drawn Line balance.

As of June 30, 2018, scheduled principal payments and maturities on notes payable and unsecured credit facilities were as follows:



(in thousands)	June 30, 2018
Scheduled Principal Payments and Maturities by Year:	Scheduled Principal Payments		Mortgage Loan Maturities	Unsecured Maturities ⁽¹⁾		Total
2018	$	5,173	106,117	—		111,290
2019	9,519		23,525	—		33,044
2020	11,287		78,580	300,000		389,867
2021	11,600		66,751	250,000		328,351
2022	11,799		5,848	715,000		732,647
Beyond 5 Years	37,056		269,216	1,950,000		2,256,272
Unamortized debt premium/(discount) and issuance costs	—		7,405	(27,376	)	(19,971	)
Total	$	86,434	557,442	3,187,624		3,831,500

⁽¹⁾ Includes unsecured public and private debt and unsecured credit facilities.