Notes Payable (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Summary of terms of notes payable

The following table summarizes the terms of notes payable outstanding at December 31, 2019 and 2018 (in thousands):

Description	Interest Rate	Maturity	2019			2018
2019 Senior Notes, Unsecured	3.95%	2029	$	275,000		$	—
Credit Facility, Unsecured	2.81%	2023	251,500			—
Term Loan, Unsecured	2.96%	2021	250,000			250,000
2017 Senior Notes, Unsecured	3.91%	2025	250,000			250,000
2019 Senior Notes, Unsecured	3.86%	2028	250,000			—
Fifth Third Center	3.37%	2026	140,332			143,497
2019 Senior Notes, Unsecured	3.78%	2027	125,000			—
Terminus 100	5.25%	2023	118,146			—
Colorado Tower	3.45%	2026	117,085			119,427
2017 Senior Notes, Unsecured	4.09%	2027	100,000			100,000
Promenade	4.27%	2022	95,986			99,238
816 Congress	3.75%	2024	79,987			81,676
Terminus 200	3.79%	2023	76,079			—
Legacy Union One	4.24%	2023	66,000			—
Meridian Mark Plaza	6.00%	2020	22,978			23,524
			$	2,218,093		$	1,067,362
Unamortized premium			11,239			—
Unamortized loan costs			(6,357		)	(4,792		)
Total Notes Payable			$	2,222,975		$	1,062,570

Weighted average maturity of notes payable outstanding at December 31, 2019 was 5.5 years.

Summary of interest recorded

For the years ended December 31, 2019, 2018, and 2017, interest was recorded as follows (in thousands):

	2019			2018			2017
Total interest incurred	$	65,182		$	44,332		$	42,767
Interest capitalized	(11,219		)	(4,902		)	(9,243		)
Total interest expense	$	53,963		$	39,430		$	33,524

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, 2019 are as follows (in thousands): 

2020	$	38,699
2021	266,369
2022	102,401
2023	504,655
2024	79,087
Thereafter	1,226,882
	$	2,218,093