Principal payments due on debt obligations |
| | | | | | | | | | Senior | | Secured | | | | | Unsecured Notes(1,2) | | Debt (1,3) | | Totals | 2014 | $ | - | | $ | 190,986 | | $ | 190,986 | 2015 | | 476,142(4) | | | 403,141 | | | 879,283 | 2016 | | 1,200,000(5) | | | 381,659 | | | 1,581,659 | 2017 | | 450,000 | | | 324,102 | | | 774,102 | 2018 | | 450,000 | | | 429,473 | | | 879,473 | Thereafter | | 4,842,232(6) | | | 1,146,596 | | | 5,988,828 | Totals | $ | 7,418,374 | | $ | 2,875,957 | | $ | 10,294,331 | | | | | | | | | | (1) Amounts represent principal amounts due and do not include unamortized premiums/discounts or other fair value adjustments as reflected on the balance sheet. | (2) Annual interest rates range from 1.5% to 6.5%. | (3) Annual interest rates range from 1.0% to 8.0%. Carrying value of the properties securing the debt totaled $5,976,759,000 at March 31, 2014. | (4) On July 30, 2012, we completed funding on a $250,000,000 Canadian denominated unsecured term loan (approximately $226,142,000 based on the Canadian/U.S. Dollar exchange rate on March 31, 2014). The loan matures on July 27, 2015 (with an option to extend for an additional year at our discretion) and bears interest at the Canadian Dealer Offered Rate plus 145 basis points (2.7% at March 31, 2014). | (5) On January 8, 2013, we completed funding on a $500,000,000 unsecured term loan. The loan matures on March 31, 2016 (with an option to extend for two additional years at our discretion) and bears interest at LIBOR plus 135 basis points (1.5% at March 31, 2014). | (6) On November 20, 2013, we completed the sale of £550,000,000 (approximately $917,125,000 based on the Sterling/U.S. Dollar exchange rate on March 31, 2014) of 4.8% senior unsecured notes due 2028. | | | | | | | | | |
|
Summary of senior unsecured note activity |
| | | | | | | | | | | Three Months Ended | | March 31, 2014 | | March 31, 2013 | | | | | Weighted Avg. | | | | | Weighted Avg. | | Amount | | Interest Rate | | Amount | | Interest Rate | Beginning balance | $ | 7,421,707 | | 4.400% | | $ | 6,145,457 | | 4.600% | Debt issued | | - | | 0.000% | | | 500,000 | | 1.552% | Debt redeemed | | (1) | | 3.000% | | | - | | 0.000% | Foreign currency | | (3,332) | | 3.486% | | | (5,330) | | 2.670% | Ending balance | $ | 7,418,374 | | 4.400% | | $ | 6,640,127 | | 4.400% | | | | | | | | | | |
|
Secured debt principal activity |
| | | | | | | | | | | | | Three Months Ended | | | | March 31, 2014 | | March 31, 2013 | | | | | | Weighted Avg. | | | | | Weighted Avg. | | | Amount | | Interest Rate | | Amount | | Interest Rate | Beginning balance | | $ | 3,010,711 | | 5.10% | | $ | 2,311,586 | | 5.14% | Debt issued | | | 10,690 | | 3.54% | | | - | | 0.00% | Debt assumed | | | - | | 0.00% | | | 132,680 | | 5.49% | Debt extinguished | | | (114,084) | | 5.73% | | | (7,807) | | 7.43% | Principal payments | | | (15,455) | | 5.12% | | | (11,432) | | 5.44% | Foreign currency | | | (15,905) | | 3.86% | | | 6 | | 5.62% | Ending balance | | $ | 2,875,957 | | 5.08% | | $ | 2,425,033 | | 5.17% | | | | | | | | | | | |
|