Indebtedness (Tables)

12 Months Ended

Dec. 31, 2017

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Indebtedness at December 31, 2017 and 2016 consists of the following (in thousands):

	Maturity Date	Weighted Average Interest Rate		Weighted Average Interest Rate
		2017		2016		2017		2016
Fixed rate secured debt	2018 to 2027	7.43	%	7.13	%	$	309,463	$	381,894
Variable rate secured debt	2025	1.85	%	0.79	%	2,500		2,800
Unsecured debt	2018 to 2028	3.89	%	4.12	%	2,132,042		2,498,835
Unsecured line of credit	2022	N/A		1.70	%	—		48,000
						$	2,444,005	$	2,931,529
Less: Deferred financing costs						21,114		23,052
Total indebtedness as reported on consolidated balance sheets						$	2,422,891	$	2,908,477

Unsecured Lines of Credit

Our unsecured line of credit at December 31, 2017 is described as follows (in thousands):

				Outstanding Balance at
Description	Borrowing Capacity		Maturity Date	December 31, 2017
Unsecured Line of Credit – Partnership	$	1,200,000	January 30, 2022	$	—

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, 2017 (in thousands): 

	Book Value at 12/31/2016		Book Value at 12/31/2017		Fair Value at 12/31/2016		Issuances and Assumptions		Payments/Payoffs			Adjustments to Fair Value			Fair Value at 12/31/2017
Fixed rate secured debt	$	381,894	$	309,463	$	415,231	$	—	$	(72,348	)	$	(17,130	)	$	325,753
Variable rate secured debt	2,800		2,500		2,800		—		(300		)	—			2,500
Unsecured debt	2,498,835		2,132,042		2,568,034		300,000		(666,794		)	(10,692		)	2,190,548
Unsecured line of credit	48,000		—		48,000		—		(48,000		)	—			—
Total	$	2,931,529	$	2,444,005	$	3,034,065	$	300,000	$	(787,442	)	$	(27,822	)	$	2,518,801
Less: Deferred financing costs	23,052		21,114
Total indebtedness as reported on the consolidated balance sheets	$	2,908,477	$	2,422,891

Schedule of Maturities of Long-term Debt

At December 31, 2017, the scheduled amortization and maturities of all indebtedness, excluding fair value adjustment, for the next five years and thereafter were as follows (in thousands):

Year	Amount
2018	$	7,768
2019	275,373
2020	5,381
2021	262,463
2022	603,611
Thereafter	1,289,178
	$	2,443,774