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

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Summary of company's mortgage notes payable, unsecured notes, term loan and credit facility

The following amounts and discussion do not include the mortgage notes related to the communities classified as held for sale, if any, as of December 31, 2021 and 2020, as shown in the Consolidated Balance Sheets (dollars in thousands) (see Note 6, “Real Estate Disposition Activities”).

	12/31/21		12/31/20
Fixed rate unsecured notes (1)	$	7,150,000	$	6,500,000
Term Loans (1)	250,000		250,000
Fixed rate mortgage notes payable—conventional and tax-exempt (2)	306,281		408,964
Variable rate mortgage notes payable—conventional and tax-exempt (2)	464,150		470,850
Total mortgage notes payable and unsecured notes and Term Loans	8,170,431		7,629,814
Credit Facility	—		—
Total mortgage notes payable, unsecured notes, Term Loans and Credit Facility	$	8,170,431	$	7,629,814

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(1)     Balances at December 31, 2021 and 2020 exclude $10,033 and $10,380, respectively, of debt discount, and $40,573 and $37,615, respectively, of deferred financing costs, as reflected in unsecured notes, net on the accompanying Consolidated Balance Sheets.

(2)     Balances at December 31, 2021 and 2020 exclude $13,528 and $14,478 of debt discount, respectively, and $2,750 and $3,004, respectively, of deferred financing costs, as reflected in mortgage notes payable, net on the accompanying 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 December 31, 2021 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
2022	$	8,263	$	—	$	100,000	LIBOR + 0.90%
2023	8,999		—		350,000		4.200	%
					250,000		2.850	%
2024	9,837		—		300,000		3.500	%
					150,000		LIBOR + 0.85%
2025	10,478		—		525,000		3.450	%
					300,000		3.500	%
2026	11,420		—		475,000		2.950	%
					300,000		2.900	%
2027	13,765		236,100		400,000		3.350	%
2028	18,512		—		450,000		3.200	%
					400,000		1.900	%
2029	9,462		66,250		450,000		3.300	%
2030	10,014		—		700,000		2.300	%
2031	10,669		—		600,000		2.450	%
Thereafter	111,164		245,498		700,000		2.050	%
					350,000		3.900	%
					300,000		4.150	%
					300,000		4.350	%
	$	222,583	$	547,848	$	7,400,000