Debt Obligations (Tables)

3 Months Ended

Mar. 31, 2020

The following table sets forth information regarding the Company’s consolidated debt obligations outstanding at March 31, 2020 and December 31, 2019 (in thousands):



	March 31, 2020			December 31, 2019			Effective Interest Rate	Maturity Date
MORTGAGE DEBT:
Two Logan Square	$	80,667		$	81,103		3.98%	August 2020
Four Tower Bridge	9,230			9,291			4.50%	February 2021
One Commerce Square	115,647			116,571			3.64%	April 2023
Two Commerce Square	107,948			108,472			4.51%	April 2023
Principal balance outstanding	313,492			315,437
Plus: fair market value premium (discount), net	(1,289		)	(1,383		)
Less: deferred financing costs	(202		)	(242		)
Mortgage indebtedness	$	312,001		$	313,812

UNSECURED DEBT
$600 million Unsecured Credit Facility	$	50,000		$	—		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
$350.0M 4.10% Guaranteed Notes due 2024	350,000			350,000			3.78%	October 2024
$450.0M 3.95% Guaranteed Notes due 2027	450,000			450,000			4.03%	November 2027
$350.0M 4.55% Guaranteed Notes due 2029	350,000			350,000			4.30%	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)	25,774			25,774			LIBOR + 1.25%	July 2035
Principal balance outstanding	1,878,610			1,828,610
Plus: original issue premium (discount), net	11,601			12,090
Less: deferred financing costs	(9,612		)	(10,094		)
Total unsecured indebtedness	$	1,880,599		$	1,830,606
Total Debt Obligations	$	2,192,600		$	2,144,418

Schedule of maturities of long-term debt

As of March 31, 2020, the Company’s aggregate scheduled principal payments of debt obligations are as follows (in thousands):



2020 (nine months remaining)	$	85,281
2021	15,143
2022	306,332
2023	556,736
2024	350,000
Thereafter	878,610
Total principal payments	2,192,102
Net unamortized premiums/(discounts)	10,312
Net deferred financing costs	(9,814		)
Outstanding indebtedness	$	2,192,600