XML 53 R36.htm IDEA: XBRL DOCUMENT v2.4.0.8
Debt (Narrative) (Details) (USD $)
0 Months Ended 3 Months Ended 9 Months Ended
May 09, 2013
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Debt Instrument [Line Items]          
Percentage ownership in operating partnership 100.00%     99.90%  
Settlement of forward starting interest rate swaps       $ (672,000) $ 0
Interest payments on debt facilities   15,500,000 15,700,000 47,300,000 47,100,000
Interest Costs Capitalized       0  
Senior Notes [Member] | $350 Million Senior Notes [Member]
         
Debt Instrument [Line Items]          
Face amount of debt instument 350,000,000 350,000,000   350,000,000  
Rate   3.40% [1],[2]   3.40% [1],[2]  
Proceeds from debt 348,600,000        
Discount on notes payable 1,400,000        
Term of notes 10 years        
Senior Notes [Member] | $350 Million Senior Notes [Member] | Forward Starting Interest Rate Swap [Member]
         
Debt Instrument [Line Items]          
Number of Interest Rate Derivatives Settled During the Period       2  
Notional amount of forward starting swap agreements 250,000,000        
Settlement of forward starting interest rate swaps 700,000        
Senior Notes [Member] | $350 Million Senior Notes [Member] | Forward Starting Rate Swap 1 [Member]
         
Debt Instrument [Line Items]          
Notional amount of forward starting swap agreements 220,000,000        
Senior Notes [Member] | $350 Million Senior Notes [Member] | Forward Starting Rate Swap 2 [Member]
         
Debt Instrument [Line Items]          
Notional amount of forward starting swap agreements 30,000,000        
Unsecured Debt [Member] | $500 Million Unsecured Line of Credit [Member]
         
Debt Instrument [Line Items]          
Face amount of debt instument   500,000,000   500,000,000  
Net borrowings       484,000,000  
Repayments       426,000,000  
Borrowing capacity of line of credit   $ 500,000,000   $ 500,000,000  
[1] The $350 Million Senior Notes have a fixed coupon rate of 3.40%, however, as a result of the issuance of the notes at a discount, Piedmont recognizes an effective interest rate on this debt issuance of 3.45%.
[2] All of Piedmont’s outstanding debt as of September 30, 2013 and December 31, 2012 is interest-only debt.