Quarterly report pursuant to Section 13 or 15(d)

DEBT FINANCING (Tables)

v3.20.1
DEBT FINANCING (Tables)
3 Months Ended
Mar. 31, 2020
Debt Disclosure [Abstract]  
Schedule of debt
The Company's outstanding debt as of March 31, 2020 and December 31, 2019 is summarized as follows (dollars in thousands):
Interest Rate(1)
March 31, 2020 December 31, 2019
Credit Facility:
Revolving line of credit 2.29% $ 200,000    $ —   
Term loan A 3.74% 125,000    125,000   
Term loan B 2.91% 250,000    250,000   
Term loan C 2.80% 225,000    225,000   
Term loan D 3.57% 175,000    175,000   
2023 Term loan facility 2.83% 175,000    175,000   
2028 Term loan facility 4.62% 75,000    75,000   
2029 Term loan facility 4.27% 100,000    100,000   
2029 Senior Unsecured Notes 3.98% 100,000    100,000   
2031 Senior Unsecured Notes 4.08% 50,000    50,000   
Fixed rate mortgages payable 4.18% 261,680    264,260   
Total principal 1,736,680    1,539,260   
Unamortized debt issuance costs and debt premium, net
(5,011)   (5,213)  
Total debt $ 1,731,669    $ 1,534,047   

(1)Represents the effective interest rate as of March 31, 2020. 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 March 31, 2020, the scheduled principal and maturity payments for the Company's outstanding borrowings are presented in the table below (in thousands):
Year Ending December 31, Scheduled Principal and Maturity Payments Amortization of Premium and Unamortized Debt Issuance Costs Total
Remainder of 2020 $ 38,067    $ (955)   $ 37,112   
2021 7,603    (1,510)   6,093   
2022 4,205    (1,512)   2,693   
2023 377,049    (1,159)   375,890   
2024 471,964    (790)   471,174   
2025 227,185    (218)   226,967   
Thereafter 610,607    1,133    611,740   
$ 1,736,680    $ (5,011)   $ 1,731,669