Indebtedness (Tables)

9 Months Ended

Sep. 30, 2014

The following table discloses certain information regarding our indebtedness:



	Outstanding Balance at						Interest Rate at September 30, 2014	Effective Interest Rate at Issuance	Maturity Date
	September 30, 2014			December 31, 2013			Interest Rate at September 30, 2014	Effective Interest Rate at Issuance	Maturity Date
Mortgage Loans Payable, Net	$	602,927		$	677,890		4.03% – 8.26%	4.03% – 8.26%	February 2016 – September 2022
Unamortized Premiums	(96		)	(115		)
Mortgage Loans Payable, Gross	$	602,831		$	677,775
Senior Unsecured Notes, Net
2016 Notes	$	159,607		$	159,566		5.750%	5.91%	1/15/2016
2017 Notes	54,964			54,960			7.500%	7.52%	12/1/2017
2027 Notes	6,066			6,066			7.150%	7.11%	5/15/2027
2028 Notes	31,884			31,883			7.600%	8.13%	7/15/2028
2032 Notes	10,517			10,514			7.750%	7.87%	4/15/2032
2014 Notes	—			81,149			N/A	N/A	6/1/2014
2017 II Notes	101,799			101,778			5.950%	6.37%	5/15/2017
Subtotal	$	364,837		$	445,916
Unamortized Discounts	265			980
Senior Unsecured Notes, Gross	$	365,102		$	446,896
Unsecured Term Loan*	$	200,000		N/A			1.905%	1.905%	1/29/2021
Unsecured Credit Facility**	$	176,000		$	173,000		1.656%	1.656%	9/29/2017

* We entered into interest rate protection agreements, with an aggregate notional value of $200,000, to effectively convert the variable rate to a fixed rate. See Note 10.

** The maturity date may be extended an additional year at our election, subject to certain restrictions.

Schedule of Maturities of Long-Term Debt

The following is a schedule of the stated maturities and scheduled principal payments of our indebtedness, exclusive of premiums and discounts, for the next five years as of September 30, 2014 and thereafter:



	Amount
Remainder of 2014	$	2,935
2015	12,158
2016	251,870
2017	344,723
2018	168,341
Thereafter	563,906
Total	$	1,343,933

Summary of Indebtedness at Estimated Fair Value

At September 30, 2014 and December 31, 2013, the fair value of our indebtedness was as follows:



	September 30, 2014				December 31, 2013
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Mortgage Loans Payable, Net	$	602,927	$	642,936	$	677,890	$	684,914
Senior Unsecured Debt, Net	364,837		398,655		445,916		482,781
Unsecured Term Loan	200,000		200,597		N/A		N/A
Unsecured Credit Facility	176,000		176,258		173,000		173,000
Total	$	1,343,764	$	1,418,446	$	1,296,806	$	1,340,695