Quarterly report pursuant to Section 13 or 15(d)

DEBT FINANCING (Tables)

v3.19.1
DEBT FINANCING (Tables)
3 Months Ended
Mar. 31, 2019
Debt Disclosure [Abstract]  
Schedule of debt
The Company's outstanding debt as of March 31, 2019 and December 31, 2018 is summarized as follows (dollars in thousands):
 
Interest Rate(1)
 
March 31, 2019
 
December 31, 2018
Credit Facility:
 
 
 
 
 
Revolving line of credit
3.89%
 
$
277,500

 
$
139,500

Term loan A
2.91%
 
235,000

 
235,000

Term loan B
2.94%
 
155,000

 
155,000

Term loan C
3.71%
 
105,000

 
105,000

Term loan D
3.79%
 
125,000

 
125,000

2023 Term loan facility
3.13%
 
175,000

 
175,000

2028 Term loan facility
4.62%
 
75,000

 
75,000

Fixed rate mortgages payable
4.18%
 
266,860

 
268,138

Total principal
 
 
1,414,360

 
1,277,638

Unamortized debt issuance costs and debt premium, net
 
 
566

 
464

Total debt
 
 
$
1,414,926

 
$
1,278,102


(1) 
Represents the effective interest rate as of March 31, 2019. 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, 2019, 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
2019
 
$
3,850

 
$
(262
)
 
$
3,588

2020
 
316,897

 
(699
)
 
316,198

2021
 
242,603

 
(779
)
 
241,824

2022
 
159,205

 
(441
)
 
158,764

2023
 
377,049

 
(42
)
 
377,007

2024
 
126,964

 
270

 
127,234

Thereafter
 
187,792

 
2,519

 
190,311

 
 
$
1,414,360

 
$
566

 
$
1,414,926