Credit Facility	9 Months Ended
Sep. 30, 2017
Credit Facility
Credit facility
Debt	5. Credit Facility We have a $2.0 billion unsecured revolving credit facility, or our credit facility with an initial term that expires in June 2019 and includes, at our option, two six-month extensions. Our credit facility has a $1.0 billion accordion expansion option. Under our credit facility, our investment grade credit ratings as of September 30, 2017 provide for financing at the London Interbank Offered Rate, commonly referred to as LIBOR, plus 0.90% with a facility commitment fee of 0.15%, for all-in drawn pricing of 1.05% over LIBOR. The borrowing rate is subject to an interest rate floor and may change if our investment grade credit ratings change. We also have other interest rate options available to us under our credit facility. Our credit facility is unsecured and, accordingly, we have not pledged any assets as collateral for this obligation. At September 30, 2017, credit facility origination costs of $5.1 million are included in other assets, net on our consolidated balance sheet. These costs are being amortized over the remaining term of our credit facility. At September 30, 2017, we had a borrowing capacity of $1.34 billion available on our credit facility (subject to customary conditions to borrowing) and an outstanding balance of $658.0 million as compared to an outstanding balance of $1.12 billion at December 31, 2016. The weighted average interest rate on outstanding borrowings under our credit facility was 1.9% during the first nine months of 2017 and 1.4% during the first nine months of 2016. At September 30, 2017 and 2016, the weighted average interest rate on borrowings outstanding was 2.2% and 1.4%, respectively. Our credit facility is subject to various leverage and interest coverage ratio limitations, and at September 30, 2017 we were in compliance with the covenants on our credit facility.

5. Credit Facility

We have a $2.0 billion unsecured revolving credit facility, or our credit facility with an initial term that expires in June 2019 and includes, at our option, two six-month extensions. Our credit facility has a $1.0 billion accordion expansion option. Under our credit facility, our investment grade credit ratings as of September 30, 2017 provide for financing at the London Interbank Offered Rate, commonly referred to as LIBOR, plus 0.90% with a facility commitment fee of 0.15%, for all-in drawn pricing of 1.05% over LIBOR. The borrowing rate is subject to an interest rate floor and may change if our investment grade credit ratings change. We also have other interest rate options available to us under our credit facility. Our credit facility is unsecured and, accordingly, we have not pledged any assets as collateral for this obligation.

At September 30, 2017, credit facility origination costs of $5.1 million are included in other assets, net on our consolidated balance sheet. These costs are being amortized over the remaining term of our credit facility.

At September 30, 2017, we had a borrowing capacity of $1.34 billion available on our credit facility (subject to customary conditions to borrowing) and an outstanding balance of $658.0 million as compared to an outstanding balance of $1.12 billion at December 31, 2016.

The weighted average interest rate on outstanding borrowings under our credit facility was 1.9% during the first nine months of 2017 and 1.4% during the first nine months of 2016. At September 30, 2017 and 2016, the weighted average interest rate on borrowings outstanding was 2.2% and 1.4%, respectively. Our credit facility is subject to various leverage and interest coverage ratio limitations, and at September 30, 2017 we were in compliance with the covenants on our credit facility.