MORTGAGES, NOTES AND LOANS PAYABLE, NET (Tables)

9 Months Ended

Sep. 30, 2019

Debt Disclosure [Abstract]

Summary of mortgages, notes and loans payable

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

	September 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	997,243			648,707
Special Improvement District bonds	14,382			15,168
Variable-rate debt:
Mortgages, notes and loans payable (a)	1,653,637			1,551,336
Unamortized bond issuance costs	(5,465		)	(6,096		)
Unamortized deferred financing costs	(35,113		)	(27,902		)
Total mortgages, notes and loans payable, net	$	3,624,684		$	3,181,213

(a) As more fully described in Note 9 - Derivative Instruments and Hedging Activities, as of September 30, 2019 and December 31, 2018, $616.7 million of variable‑rate debt has been swapped to a fixed rate for the term of the related debt. An additional $114.3 million and $50.0 million of variable-rate debt was subject to interest rate collars as of September 30, 2019 and December 31, 2018, respectively, and $75.0 million of variable-rate debt was capped at a maximum interest rate as of September 30, 2019 and December 31, 2018.