Annual report pursuant to Section 13 and 15(d)

DEBT FINANCING (Tables)

v3.6.0.2
DEBT FINANCING (Tables)
 12 Months Ended
Dec. 31, 2016
Debt Disclosure [Abstract]  
Schedule of debt
The Company's outstanding debt as of December 31, 2016 and 2015 is summarized as follows (dollars in thousands):
 
Interest
 
December 31,
 
Rate (1)
 
2016
 
2015
Credit Facility:
 
 
 
 
 
Revolving line of credit
2.17%
 
$
246,500

 
$
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
4.07%
 
201,694

 
176,911

Total principal
 
 
873,194

 
564,886

Unamortized debt issuance costs and debt premium, net
 
 
5,760

 
2,909

Total debt
 
 
$
878,954

 
$
567,795


(1) 
Represents the effective interest rate as of December 31, 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
Year Ending December 31,
 
Scheduled Principal and Maturity Payments
 
Premium Amortization and Unamortized Debt Issuance Costs
 
Total
2017
 
$
15,103

 
$
606

 
$
15,709

2018
 
10,617

 
510

 
11,127

2019
 
4,983

 
441

 
5,424

2020
 
285,745

 
90

 
285,835

2021
 
232,509

 
(9
)
 
232,500

After 2022
 
324,237

 
4,122

 
328,359

 
 
$
873,194

 
$
5,760

 
$
878,954