MORTGAGES, NOTES AND LOANS PAYABLE, NET (Tables)

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Summary of mortgages, notes and loans payable

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

	June 30,			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	889,654			648,707
Special Improvement District bonds	14,511			15,168
Variable-rate debt:
Mortgages, notes and loans payable (a)	1,561,549			1,551,336
Unamortized bond issuance costs	(5,678		)	(6,096		)
Unamortized deferred financing costs	(37,546		)	(27,902		)
Total mortgages, notes and loans payable, net	$	3,422,490		$	3,181,213

(a) As more fully described in Note 8 - Derivative Instruments and Hedging Activities, as of June 30, 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 $55.0 million and $50.0 million of variable-rate debt was subject to interest rate collars as of June 30, 2019 and December 31, 2018, respectively, and $75.0 million of variable-rate debt was capped at a maximum interest rate as of June 30, 2019 and December 31, 2018.