XML 39 R24.htm IDEA: XBRL DOCUMENT v3.20.2
Borrowings (Tables)
 9 Months Ended
Sep. 30, 2020
Debt Disclosure [Abstract]  
Summary of Outstanding Debt

The following table summarizes the Company’s outstanding debt as of September 30, 2020 (dollars in thousands):

 

 

 

Balance

 

 

Weighted Average Effective Rate

 

 

Weighted Average Contract Maturity

 

Unsecured debt

 

 

 

 

 

 

 

 

 

 

 

 

Variable rate revolving credit facility

 

$

—

 

 

 

—

 

 

 

—

 

Variable rate commercial paper program

 

 

35,000

 

 

 

0.2

%

 

10/2/2020

 

Fixed rate senior notes

 

 

3,922,000

 

 

 

3.6

%

 

1/27/2027

 

Debt issuance costs, discounts, premiums and fair market value adjustments

 

 

(17,575

)

 

 

 

 

 

 

 

 

Total unsecured debt

 

$

3,939,425

 

 

 

3.6

%

 

 

 

 

Secured debt

 

 

 

 

 

 

 

 

 

 

 

 

Fixed rate property mortgages

 

$

489,595

 

 

 

4.6

%

 

12/31/2041

 

Debt issuance costs and fair market value adjustments

 

 

(3,426

)

 

 

 

 

 

 

 

 

Total secured debt

 

$

486,169

 

 

 

4.6

%

 

 

 

 

Total outstanding debt

 

$

4,425,594

 

 

 

3.7

%