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Debt (Tables)

9 Months Ended

Sep. 30, 2022

Schedule of Maturity Amounts Outstanding Under Credit Agreement and Senior Unsecured Notes

The amounts outstanding under our Restated Credit Agreement and our senior unsecured notes are as follows (in thousands):


	Maturity Date	Interest Rate			September 30, 2022			December 31, 2021
Unsecured Revolving Credit Facility	October 2025		—		$	—		$	60,000
Series B Notes	June 2023		5.35	%		75,000			75,000
Series C Notes	February 2025		4.75	%		50,000			50,000
Series D-E Notes	June 2028		5.47	%		100,000			100,000
Series F-H Notes	September 2029		3.52	%		125,000			125,000
Series I-K Notes	November 2030		3.43	%		175,000			175,000
Series L-N Notes	February 2032		3.45	%		100,000			—
Total debt						625,000			585,000
Unamortized debt issuance costs, net (a)						(3,761	)		(3,880	)
Total debt, net					$	621,239		$	581,120

(a)

Unamortized debt issuance costs related to the Revolving Facility were $2,196 and $2,730 as of September 30, 2022 and December 31, 2021, respectively, and are included in prepaid expenses and other assets on our consolidated balance sheets.

Summary of Scheduled Debt Maturities, Including Balloon Payments

As of September 30, 2022, scheduled debt maturities, including balloon payments, are as follows (in thousands):


	Revolving Facility		Senior Unsecured Notes		Total
2022	$	—	$	—	$	—
2023 (a)		—		75,000		75,000
2024		—		—		—
2025 (b)		—		50,000		50,000
2026		—		—		—
Thereafter		—		500,000		500,000
Total	$	—	$	625,000	$	625,000

(a)

Pursuant to the Sixth Amended and Restated Prudential Agreement, we will issue $80,000,000 of 3.65% Series Q Notes due January 20, 2033 to Prudential on January 20, 2023 and use a portion of the proceeds to repay in full the $75,000,000 of 5.35% Series B Notes due June 2, 2023.

(b)

The Revolving Facility matures in October 2025. Subject to the terms of the Second Restated Credit Agreement and our continued compliance with its provisions, we have the option to extend the term of the Revolving Facility for two six month periods to October 2026.