Debt Obligations (Tables)

9 Months Ended

Sep. 30, 2019

The following table sets forth information regarding the Company’s consolidated debt obligations outstanding at September 30, 2019 and December 31, 2018 (in thousands):



	September 30, 2019			December 31, 2018			Effective Interest Rate	Maturity Date
MORTGAGE DEBT:
Two Logan Square	$	81,535		$	82,805		3.98%	May 2020
Four Tower Bridge	9,351			9,526			4.50%	February 2021
One Commerce Square	117,486			120,183			3.64%	April 2023
Two Commerce Square	108,991			110,518			4.51%	April 2023
Principal balance outstanding	317,363			323,032
Plus: fair market value premium (discount), net	(1,477		)	(1,759		)
Less: deferred financing costs	(283		)	(404		)
Mortgage indebtedness	$	315,603		$	320,869

UNSECURED DEBT
$600 million Unsecured Credit Facility	$	146,500		$	92,500		LIBOR + 1.10%	July 2022
Seven-Year Term Loan - Swapped to fixed	250,000			250,000			2.87%	October 2022
$350.0M 3.95% Guaranteed Notes due 2023	350,000			350,000			3.87%	February 2023
$250.0M 4.10% Guaranteed Notes due 2024	250,000			250,000			4.33%	October 2024
$450.0M 3.95% Guaranteed Notes due 2027	450,000			450,000			4.03%	November 2027
$250.0M 4.55% Guaranteed Notes due 2029	250,000			250,000			4.60%	October 2029
Indenture IA (Preferred Trust I)	27,062			27,062			LIBOR + 1.25%	March 2035
Indenture IB (Preferred Trust I) - Swapped to fixed	25,774			25,774			3.30%	April 2035
Indenture II (Preferred Trust II) - Swapped to fixed	25,774			25,774			3.09%	July 2035
Principal balance outstanding	1,775,110			1,721,110
Plus: original issue premium (discount), net	(3,852		)	(4,096		)
Less: deferred financing costs	(8,606		)	(9,837		)
Total unsecured indebtedness	$	1,762,652		$	1,707,177
Total Debt Obligations	$	2,078,255		$	2,028,046

Schedule of maturities of long-term debt

As of September 30, 2019, the Company’s aggregate scheduled principal payments of debt obligations are as follows (in thousands):



2019 (three months remaining)	$	1,926
2020	87,225
2021	15,143
2022	402,832
2023	556,737
Thereafter	1,028,610
Total principal payments	2,092,473
Net unamortized premiums/(discounts)	(5,329		)
Net deferred financing costs	(8,889		)
Outstanding indebtedness	$	2,078,255