Notes Payable (Tables)

12 Months Ended

Dec. 31, 2018

The following table summarizes the terms of notes payable outstanding at December 31, 2018 and 2017 (in thousands):



Description	Interest Rate	Maturity *	2018			2017
Term Loan, unsecured	3.70%	2021	$	250,000		$	250,000
Senior Notes, unsecured	3.91%	2025	250,000			250,000
Fifth Third Center	3.37%	2026	143,497			146,557
Colorado Tower	3.45%	2026	119,427			120,000
Senior Notes, unsecured	4.09%	2027	100,000			100,000
Promenade	4.27%	2022	99,238			102,355
816 Congress	3.75%	2024	81,676			83,304
Meridian Mark Plaza	6.00%	2020	23,524			24,038
Credit Facility, unsecured	3.55%	2023	—			—
The Pointe	4.01%	2019	—			22,510
			$	1,067,362		$	1,098,764
Unamortized premium, net			—			219
Unamortized loan costs			(4,792		)	(5,755		)
Total Notes Payable			$	1,062,570		$	1,093,228

*Weighted average maturity of notes payable outstanding at December 31, 2018 was 5.7 years.

Schedule of pricing spreads and facility fee

Summary of interest recorded

For the years ended December 31, 2018, 2017, and 2016, interest was recorded as follows (in thousands):



	2018			2017			2016
Total interest incurred	$	44,332		$	42,767		$	31,347
Interest capitalized	(4,902		)	(9,243		)	(4,697		)
Total interest expense	$	39,430		$	33,524		$	26,650

Schedule of future principal payments due

Future principal payments due (including scheduled amortization payments and payments due upon maturity) on the Company's notes payable at December 31, 2018 are as follows (in thousands):



2019	$	10,997
2020	33,825
2021	261,258
2022	97,042
2023	8,274
Thereafter	655,966
	$	1,067,362