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Notes Payable (Tables)
3 Months Ended
Mar. 31, 2022
Debt Disclosure [Abstract]  
Summary of Terms of Notes Payable
The following table summarizes the terms of notes payable outstanding at March 31, 2022 and December 31, 2021 ($ in thousands):
DescriptionInterest Rate (1)Maturity (2)20222021
Unsecured Notes:
Credit Facility, Unsecured1.50%2023$345,000 $228,500 
Term Loan, Unsecured1.50%2024350,000 350,000 
2019 Senior Notes, Unsecured3.95%2029275,000 275,000 
2017 Senior Notes, Unsecured3.91%2025250,000 250,000 
2019 Senior Notes, Unsecured3.86%2028250,000 250,000 
2019 Senior Notes, Unsecured3.78%2027125,000 125,000 
2017 Senior Notes, Unsecured4.09%2027100,000 100,000 
1,695,000 1,578,500 
Secured Mortgage Notes:
Fifth Third Center 3.37%2026132,807 133,672 
Colorado Tower3.45%2026111,508 112,150 
Terminus 1005.25%2023110,821 111,678 
Promenade 4.27%202288,143 89,052 
Domain 103.75%202475,945 76,412 
Terminus 2003.79%202372,103 72,561 
Legacy Union One4.24%202366,000 66,000 
657,327 661,525 
   $2,352,327 $2,240,025 
Unamortized premium2,994 3,910 
Unamortized loan costs(5,837)(6,426)
Total Notes Payable$2,349,484 $2,237,509 

(1) Interest rate as of March 31, 2022.
(2) Weighted average maturity of notes payable outstanding at March 31, 2022 was 3.5 years.
Summary of Interest Recorded
For the three months ended March 31, 2022 and 2021, interest expense was recorded as follows (in thousands):
20222021
Total interest incurred$18,976 $18,520 
Interest capitalized(3,451)(1,312)
Total interest expense$15,525 $17,208