Quarterly report pursuant to Section 13 or 15(d)

DEBT FINANCING (Tables)

v3.5.0.2
DEBT FINANCING (Tables)
6 Months Ended
Jun. 30, 2016
Debt Disclosure [Abstract]  
Schedule of debt
The Company's outstanding debt as of June 30, 2016 and December 31, 2015 is summarized as follows (dollars in thousands):
 
Interest
 
June 30,
 
December 31,
 
Rate (1)
 
2016
 
2015
Credit Facility:
 
 
 
 
 
Revolving line of credit
1.87%
 
$
109,922

 
$
187,975

Term loan A
2.61%
 
225,000

 
200,000

     Term loan B
3.15%
 
100,000

 

Term loan facility
3.08%
 
100,000

 

Fixed rate mortgages payable
4.00%
 
213,283

 
176,911

Total principal
 
 
748,205

 
564,886

Unamortized debt issuance costs and debt premium, net
 
 
6,456

 
2,909

Total debt
 
 
$
754,661

 
$
567,795


(1) 
Represents the effective interest rate as of June 30, 2016. Effective interest rate incorporates the stated rate plus the impact of interest rate cash flow hedges and discount and premium amortization, if applicable. For the revolving line of credit, the effective interest rate excludes fees for unused borrowings.
Schedule of future debt maturities
Based on existing debt agreements in effect as of June 30, 2016, the scheduled principal and maturity payments for outstanding borrowings under the Company's credit facility and fixed rate mortgages are presented in the table below (in thousands):
Year Ending December 31,
 
Scheduled Principal and Maturity Payments
 
Premium Amortization and Unamortized Debt Issuance Costs
 
Total
Remainder of 2016
 
$
9,197

 
$
544

 
$
9,741

2017
 
17,495

 
630

 
18,125

2018
 
10,617

 
534

 
11,151

2019
 
4,983

 
466

 
5,449

2020
 
149,167

 
115

 
149,282

2021
 
232,509

 
10

 
232,519

Thereafter
 
324,237

 
4,157

 
328,394

 
 
$
748,205

 
$
6,456

 
$
754,661