Indebtedness (Tables)

12 Months Ended

Dec. 31, 2015

The following table discloses certain information regarding our indebtedness:



	Outstanding Balance at						Interest Rate at December 31, 2015	Effective Interest Rate at Issuance	Maturity Date
	December 31, 2015			December 31, 2014			Interest Rate at December 31, 2015	Effective Interest Rate at Issuance	Maturity Date
Mortgage Loans Payable, Net	$	564,955		$	599,985		4.03% – 8.26%	4.03% – 8.26%	June 2016 – September 2022
Unamortized Premiums	(64		)	(90		)
Mortgage Loans Payable, Gross	$	564,891		$	599,895
Senior Unsecured Notes, Net
2016 Notes	$	159,677		$	159,621		5.75%	5.91%	1/15/2016
2017 Notes	54,971			54,966			7.50%	7.52%	12/1/2017
2027 Notes	6,067			6,066			7.15%	7.11%	5/15/2027
2028 Notes	31,885			31,884			7.60%	8.13%	7/15/2028
2032 Notes	10,523			10,518			7.75%	7.87%	4/15/2032
2017 II Notes	101,833			101,806			5.95%	6.37%	5/15/2017
Subtotal	$	364,956		$	364,861
Unamortized Discounts	146			241
Senior Unsecured Notes, Gross	$	365,102		$	365,102
2014 Unsecured Term Loan	$	200,000		$	200,000		1.94%	N/A	1/29/2021
2015 Unsecured Term Loan	260,000			—			1.84%	N/A	9/12/2022
Unsecured Term Loans, Total (A)	$	460,000		$	200,000
Unsecured Credit Facility (B)	$	52,500		$	185,000		1.57%	N/A	3/11/2019

(A) We entered into interest rate protection agreements, with an aggregate notional value of $460,000, to effectively convert the variable rate to a fixed rate. See Note 11.

(B) The maturity date may be extended an additional year at our election, subject to certain restrictions.

Schedule of Maturities of Long-Term Debt

The following is a schedule of the stated maturities and scheduled principal payments of our indebtedness, exclusive of premiums and discounts, for the next five years as of December 31, and thereafter:



	Amount
2016	$	229,024
2017	168,723
2018	168,341
2019	128,923
2020	90,855
Thereafter	656,627
Total	$	1,442,493

Summary of Indebtedness at Estimated Fair Value

At December 31, 2015 and 2014, the fair value of our indebtedness was as follows:



	December 31, 2015				December 31, 2014
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Mortgage Loans Payable, Net	$	564,955	$	595,964	$	599,985	$	640,818
Senior Unsecured Notes, Net	364,956		386,253		364,861		395,320
Unsecured Term Loans	460,000		460,970		200,000		200,575
Unsecured Credit Facility	52,500		52,500		185,000		185,747
Total	$	1,442,411	$	1,495,687	$	1,349,846	$	1,422,460