MORTGAGES, NOTES AND LOANS PAYABLE, NET (Tables)

3 Months Ended

Mar. 31, 2019

Debt Disclosure [Abstract]

Summary of mortgages, notes and loans payable

Mortgages, notes and loans payable, net are summarized as follows: 

	March 31,			December 31,
(In thousands)	2019			2018
Fixed-rate debt:
Unsecured 5.375% Senior Notes	$	1,000,000		$	1,000,000
Secured mortgages, notes and loans payable	660,229			648,707
Special Improvement District bonds	14,978			15,168
Variable-rate debt:
Mortgages, notes and loans payable (a)	1,599,172			1,551,336
Unamortized bond issuance costs	(5,889		)	(6,096		)
Unamortized deferred financing costs	(26,505		)	(27,902		)
Total mortgages, notes and loans payable, net	$	3,241,985		$	3,181,213

(a) As more fully described in Note 8 -Derivative Instruments and Hedging Activities, as of March 31, 2019 and December 31, 2018, $615.0 million of variable‑rate debt has been swapped to a fixed rate for the term of the related debt. An additional $50.0 million of variable-rate debt was subject to interest rate collars and $75.0 million of variable-rate debt was capped at a maximum interest rate as of March 31, 2019 and December 31, 2018.