Quarterly report pursuant to Section 13 or 15(d)

DEBT FINANCING (Tables)

v3.8.0.1
DEBT FINANCING (Tables)
9 Months Ended
Sep. 30, 2017
Debt Disclosure [Abstract]  
Schedule of debt
The Company's outstanding debt as of September 30, 2017 and December 31, 2016 is summarized as follows (dollars in thousands):
 
 
 
 
 
 
 
Interest Rate(1)
 
September 30, 2017
 
December 31, 2016
Credit Facility:
 
 
 
 
 
Revolving line of credit
2.63%
 
$
201,000

 
$
246,500

Term loan A
2.63%
 
235,000

 
225,000

Term loan B
3.24%
 
155,000

 
100,000

Term loan C
3.71%
 
105,000

 

Term loan facility
3.08%
 
100,000

 
100,000

Fixed rate mortgages payable
4.15%
 
272,678

 
201,694

Total principal
 
 
1,068,678

 
873,194

Unamortized debt issuance costs and debt premium, net
 
 
3,176

 
5,760

Total debt
 
 
$
1,071,854

 
$
878,954


(1) 
Represents the effective interest rate as of September 30, 2017. 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 September 30, 2017, 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 2017
 
$
1,188

 
$
70

 
$
1,258

2018
 
10,617

 
187

 
10,804

2019
 
4,983

 
131

 
5,114

2020
 
240,245

 
(220
)
 
240,025

2021
 
242,509

 
(307
)
 
242,202

2022
 
159,205

 
(25
)
 
159,180

Thereafter
 
409,931

 
3,340

 
413,271

 
 
$
1,068,678

 
$
3,176

 
$
1,071,854