Indebtedness (Tables)

12 Months Ended

Dec. 31, 2016

Debt Disclosure [Abstract]

Disclosure - Summary Information Concerning Indebtedness

The following tables contains summary information concerning our indebtedness as of December 31, 2016:

Debt:	OutstandingPrincipal		Unamortized Discount and Debt Issuance Costs			CarryingAmount		Type	Weighted Average Rate		Weighted Average Maturity (inyears)
Secured credit facility (1)(2)	$	150,000	$	(2,720	)	$	147,280	Floating		3.0%		1.7
Mortgages-Fixed rate		600,188		(3,651	)		596,537	Fixed		3.8%		6.7
Total Debt	$	750,188	$	(6,371	)	$	743,817			3.6%		5.7

(1) The secured credit facility total capacity is $312,500, of which $150,000 was outstanding as of December 31, 2016.  

(2) As of December 31, 2016, IRT maintained a float-to-fixed interest rate swap with a $150,000 notional amount.  This swap, which expires on June 17, 2021 and has a fixed rate of 1.145%, has converted $150,000 of our floating rate debt to fixed rate debt.

	Original maturities on or before December 31,
Debt:	2017		2018		2019		2020		2021		Thereafter
Secured credit facility	$	-	$	150,000	$	-	$	-	$	-	$	-
Mortgages-Fixed rate		2,799		3,551		4,599		15,897		114,254		459,088
Total	$	2,799	$	153,551	$	4,599	$	15,897	$	114,254	$	459,088

The following tables contains summary information concerning our indebtedness as of December 31, 2015:

Debt:	OutstandingPrincipal		Unamortized Discount and Debt Issuance Costs			CarryingAmount		Type	Weighted Average Rate		Weighted Average Maturity (inyears)
Secured credit facility (1)	$	271,500	$	(4,345	)	$	267,155	Floating		2.9%		2.7
Bridge term loan		120,000		(1,582	)		118,418	Floating		5.4%		0.7
Mortgages-Fixed rate		545,956		(2,993	)		542,963	Fixed		3.8%		6.9
Mortgages-Floating rate		38,075		-			38,075	Floating		2.8%		5.4
Total Debt	$	975,531	$	(8,920	)	$	966,611			3.7%		4.9

(1) The secured credit facility total capacity was $325,000, of which $271,500 was outstanding as of December 31, 2015.