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Indebtedness
9 Months Ended
Sep. 30, 2012
Debt Disclosure [Abstract]  
Indebtedness
Indebtedness

Mortgage Loans

During the nine months ended September 30, 2012, the Company used proceeds from its unsecured credit facility together with available cash on hand to repay mortgage loans totaling $24.4 million bearing interest at an average rate of 7.47%.

During the nine months ended September 30, 2012, the Company closed on a mortgage with $45.0 million of available funds bearing interest at 4.84%. As of September 30, 2012, there was $27.5 million outstanding on this loan. The net proceeds from this mortgage were used for construction costs on a property under development.

Unsecured Notes

During the nine months ended September 30, 2012 the Company used proceeds from its unsecured credit facility together with available cash on hand to repay $230.1 million of 10-year, 6.375% senior unsecured notes due August 2012.

During the nine months ended September 30, 2012, the Company issued $400 million of 4.125% senior unsecured notes due 2022. The net proceeds from this issuance were used to repay borrowings under the Company's unsecured credit facility and for general corporate purposes.