Debt (Tables)

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Schedule of Debt

The Company's debt consisted of the following (in thousands):

					Outstanding Borrowings at
	Number of Assets Encumbered	Interest Rate	Maturity Date		June 30, 2019			December 31, 2018
Senior Notes (1)(2)(3)	—	6.00%	June 2025		$	502,959		$	505,322
Mortgage loan (4)	3	4.95%	October 2022		90,512			91,737
Mortgage loan (5)	1	4.94%	October 2022		29,175			29,569
Mortgage loan (1)	3	4.00%	April 2024	(6)	96,000			—
	7				718,646			626,628
Deferred financing costs, net					(931		)	—
Debt, net					$	717,715		$	626,628

(1) Requires payments of interest only through maturity.

(2) The Senior Notes (as defined below) include $28.0 million and $30.3 million at June 30, 2019 and December 31, 2018, respectively, related to fair value adjustments that RLJ pushed down to the Company's consolidated financial statements as a result of the Mergers.

(3) The Company has the option to redeem the Senior Notes beginning June 1, 2020 at a price of 103.0% of face value.

(4) Includes $1.6 million and $1.9 million at June 30, 2019 and December 31, 2018, respectively, related to fair value adjustments on the mortgage loans that RLJ pushed down to the Company's consolidated financial statements as a result of the Mergers.

(5) Includes $0.5 million and $0.6 million at June 30, 2019 and December 31, 2018, respectively, related to a fair value adjustment on the mortgage loan that RLJ pushed down to the Company's consolidated financial statements as a result of the Mergers.

(6) In April 2019, the Company entered into a new mortgage loan that bears interest at LIBOR + 1.60% and provides twoone year extension options.