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Borrowings (Tables)
 12 Months Ended
Dec. 31, 2018
Borrowings [Abstract]  
Indebtedness
The following table summarizes the Company's outstanding debt as of December 31, 2018 and 2017 (dollars in thousands):
 
Borrowed Balance
 
As of December 31, 2018
 
December 31, 2018
 
December 31, 2017
 
Weighted Average Effective Rate
 
Weighted Average Contract Maturity
Unsecured debt
 

 
 
 
 

 
 
Variable rate revolving credit facility
$
540,000

 
$
410,000

 
3.4
%
 
4/15/2020
Fixed rate senior notes
2,642,000

 
2,292,000

 
4.0
%
 
7/12/2025
Term loans fixed with swaps
300,000

 
550,000

 
2.3
%
 
3/1/2022
Variable rate term loans
600,000

 
300,000

 
3.3
%
 
1/22/2020
Fair market value adjustments, debt issuance costs and discounts
(28,698
)
 
(26,235
)
 
 
 
 
Total unsecured debt
$
4,053,302

 
$
3,525,765

 
3.7
%
 
 
Fixed rate secured debt
 
 
 
 
 
 
 
Individual property mortgages
$
476,161

 
$
882,752

 
4.6
%
 
2/23/2031
Variable rate secured debt (1)
 
 
 
 
 
 
 
Credit facility
$
—

 
$
80,000

 
 
 

Fair market value adjustments and debt issuance costs
(1,135
)
 
13,540

 
 
 
 
Total secured debt
$
475,026

 
$
976,292

 
4.6
%
 
 
Total outstanding debt
$
4,528,328

 
$
4,502,057

 
3.8
%
 
 

(1) Includes capped balances.
Scheduled Principal Repayments on Borrowings
The following table includes scheduled principal repayments on the Company's outstanding borrowings as of December 31, 2018, as well as the amortization of the fair market value of debt assumed, debt discounts and issuance costs (in thousands): 
Year
 
Maturities
 
Amortization
 
Total
2019
 
$
333,115

 
$
2,583

 
$
335,698

2020
 
842,456

 
1,291

 
843,747

2021
 
340,618

 
(2,138
)
 
338,480

2022
 
667,000

 
(2,713
)
 
664,287

2023
 
362,250

 
(2,023
)
 
360,227

Thereafter
 
1,992,018

 
(6,129
)
 
1,985,889

 
 
$
4,537,457

 
$
(9,129
)
 
$
4,528,328