Indebtedness (Tables)

12 Months Ended

Dec. 31, 2016

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Indebtedness at December 31, 2016 and 2015 consists of the following (in thousands):

	Maturity Date	Weighted Average Interest Rate		Weighted Average Interest Rate
		2016		2015		2016		2015
Fixed rate secured debt	2017 to 2027	7.13	%	6.55	%	$	381,894	$	736,896
Variable rate secured debt	2025	0.79	%	0.03	%	2,800		3,100
Unsecured debt	2017 to 2028	4.12	%	4.63	%	2,498,835		2,530,743
Unsecured line of credit	2019	1.70	%	1.41	%	48,000		71,000
						$	2,931,529	$	3,341,739
Less: Deferred financing costs						23,052		21,598
Total indebtedness as reported on consolidated balance sheets						$	2,908,477	$	3,320,141

Unsecured Lines of Credit

Our unsecured line of credit at December 31, 2016 is described as follows (in thousands):

				Outstanding Balance at
Description	Borrowing Capacity		Maturity Date	December 31, 2016
Unsecured Line of Credit – Partnership	$	1,200,000	January 2019	$	48,000

Fair Value, Liabilities Measured on a Recurring Basis, Disclosure Only

As all of our fair value debt disclosures relied primarily on Level 3 inputs, the following table summarizes the book value and changes in the fair value of our debt for the year ended December 31, 2016 (in thousands): 

	Book Value at 12/31/2015		Book Value at 12/31/2016		Fair Value at 12/31/2015		Issuances and Assumptions		Payments/Payoffs			Adjustments to Fair Value			Fair Value at 12/31/2016
Fixed rate secured debt	$	736,896	$	381,894	$	789,095	$	—	$	(354,492	)	$	(19,372	)	$	415,231
Variable rate secured debt	3,100		2,800		3,100		—		(300		)	—			2,800
Unsecured debt	2,530,743		2,498,835		2,624,795		375,000		(406,908		)	(24,853		)	2,568,034
Unsecured line of credit	71,000		48,000		70,852		—		(23,000		)	148			48,000
Total	$	3,341,739	$	2,931,529	$	3,487,842	$	375,000	$	(784,700	)	$	(44,077	)	$	3,034,065
Less: Deferred financing costs	21,598		23,052
Total indebtedness as reported on the consolidated balance sheets	$	3,320,141	$	2,908,477

Schedule of Maturities of Long-term Debt

Scheduled Maturities and Interest Paid

At December 31, 2016, the scheduled amortization and maturities of all indebtedness, excluding fair value and other accounting adjustments, for the next five years and thereafter were as follows (in thousands):

Year	Amount
2017	$	75,170
2018	293,379
2019	275,374
2020	432,041
2021	262,463
Thereafter	1,592,789
	$	2,931,216