Borrowings Borrowings (Tables)

6 Months Ended

Jun. 30, 2018

Debt Disclosure [Abstract]

Schedule of Debt [Table Text Block]

The following table summarizes the Company's outstanding debt as of June 30, 2018 (dollars in thousands):

	Borrowed Balance			Effective Rate		Contract Maturity(2)
Unsecured debt
Variable rate revolving credit facility	$	110,000		3.0	%	4/15/2020
Fixed rate senior notes	2,692,000			4.0	%	5/26/2025
Term loans fixed with swaps	550,000			2.9	%	7/14/2020
Variable rate term loans	300,000			2.9	%	8/29/2020
Fair market value adjustments, debt issuance costs and discounts	(30,176		)
Total unsecured debt	$	3,621,824		3.7	%
Fixed rate secured debt
Individual property mortgages	$	839,131		4.0	%	11/1/2019
Variable rate secured debt (1)
Fannie Mae Facility	80,000			2.5	%	12/1/2018
Fair market value adjustments and debt issuance costs	7,680
Total secured debt	$	926,811		3.9	%
Total outstanding debt	$	4,548,635		3.7	%

⁽¹⁾ Includes capped balances.

⁽²⁾ Represents the weighted average contract maturity date.