Borrowings Borrowings (Tables)

9 Months Ended

Sep. 30, 2017

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments [Table Text Block]

Total Outstanding Debt

The following table summarizes our indebtedness at September 30, 2017 (dollars in thousands):

	Borrowed Balance			Effective Rate		Average Contract Maturity
Fixed Rate Secured Debt
Individual property mortgages	$	933,256		4.0	%	9/11/2019
Variable Rate Secured Debt (1)
Fannie Mae Facility	160,000			1.7	%	6/1/2018
Fair market value adjustments and debt issuance costs	16,717
Total Secured Debt	1,109,973			3.6	%	7/3/2019
Unsecured Debt
Variable rate revolving credit facility	250,000			2.1	%	4/15/2020
Variable rate term loans	300,000			2.2	%	8/29/2020
Term loans fixed with swaps	550,000			3.0	%	4/17/2018
Fixed rate senior notes	2,310,000			4.0	%	10/24/2024
Fair market value adjustments, debt issuance costs and discounts	(27,139		)
Total Unsecured Debt	3,382,861			3.5	%	1/18/2023
Total Outstanding Debt	$	4,492,834		3.5	%	2/13/2022

⁽¹⁾ Includes capped balances.