Mortgage Notes Payable, Unsecured Notes and Credit Facility (Tables)

9 Months Ended

Sep. 30, 2020

Debt Disclosure [Abstract]

Summary of company's mortgage notes payable, unsecured notes and Credit Facility excluding mortgage notes secured by communities classified as held for sale

The following amounts and discussion do not include the mortgage notes related to the communities classified as held for sale, if any, as of September 30, 2020 and December 31, 2019, as shown in the accompanying Condensed Consolidated Balance Sheets (dollars in thousands) (see Note 6, "Real Estate Disposition Activities").

	9/30/2020		12/31/2019
Fixed rate unsecured notes (1)	$	6,500,000	$	5,850,000
Variable rate unsecured notes (1)	—		300,000
Term Loans (1)	250,000		250,000
Fixed rate mortgage notes payable - conventional and tax-exempt (2)	409,649		479,221
Variable rate mortgage notes payable - conventional and tax-exempt (2)	471,450		476,150
Total mortgage notes payable and unsecured notes and Term Loans	7,631,099		7,355,371
Credit Facility	—		—
Total mortgage notes payable, unsecured notes, Term Loans and Credit Facility	$	7,631,099	$	7,355,371

_____________________________________

(1)Balances at September 30, 2020 and December 31, 2019 exclude $10,782 and $8,610, respectively, of debt discount, and $38,968 and $32,742, respectively, of deferred financing costs, as reflected in unsecured notes, net on the accompanying Condensed Consolidated Balance Sheets.

(2)Balances at September 30, 2020 and December 31, 2019 exclude $14,636 and $14,464, respectively, of debt discount, and $3,067 and $3,265, respectively, of deferred financing costs, as reflected in mortgage notes payable, net on the accompanying Condensed Consolidated Balance Sheets.

Scheduled payments and maturities of mortgage notes payable and unsecured notes outstanding

Scheduled payments and maturities of secured notes payable and unsecured notes outstanding at September 30, 2020 are as follows (dollars in thousands):

Year	Secured notes principal payments		Secured notes maturities		Unsecured notes and Term Loans maturities		Stated interest rate of unsecured notes and Term Loans
2020	$	1,285	$	—	$	—	N/A
2021	9,304		27,844		—		N/A
2022	9,918		—		450,000		2.950	%
					100,000		LIBOR + 0.90%
2023	10,739		—		350,000		4.200	%
					250,000		2.850	%
2024	11,677		—		300,000		3.500	%
					150,000		LIBOR + 0.85%
2025	12,408		—		525,000		3.450	%
					300,000		3.500	%
2026	13,445		—		475,000		2.950	%
					300,000		2.900	%
2027	15,080		236,100		400,000		3.350	%
2028	20,607		—		450,000		3.200	%
2029	11,742		66,250		450,000		3.300	%
Thereafter	189,362		245,338		700,000		2.300	%
					600,000		2.450	%
					350,000		3.900	%
					300,000		4.150	%
					300,000		4.350	%
	$	305,567	$	575,532	$	6,750,000