DEBT (Tables)

6 Months Ended

Jun. 30, 2022

Debt Disclosure [Abstract]

Schedule of Debt

The following table shows the notes issued under both private shelf agreements.

	(in thousands)
	Amount		Maturity Date	Interest Rate
Series A	$	75,000	September 13, 2029	3.84	%
Series B	$	50,000	September 30, 2028	3.69	%
Series C	$	50,000	June 6, 2030	2.70	%
Series 2021-A	$	35,000	September 17, 2030	2.50	%
Series 2021-B	$	50,000	September 17, 2031	2.62	%
Series 2021-C	$	25,000	September 17, 2032	2.68	%
Series 2021-D	$	15,000	September 17, 2034	2.78	%

The following table summarizes indebtedness.

	(in thousands)
	June 30, 2022			December 31, 2021			Weighted Average Maturity in Years at June 30, 2022
Lines of credit	$	73,000		$	76,000		3.25
Unsecured senior notes (1)	300,000			300,000			8.13
Unsecured debt	373,000			376,000			7.18
Mortgages payable - Fannie Mae credit facility	198,850			198,850			9.07
Mortgages payable - other	302,360			284,934			5.47
Total debt	$	874,210		$	859,784		6.96
Weighted average interest rate on lines of credit (rate with swap)(2)	2.80		%	2.74		%
Weighted average interest rate on unsecured senior notes	3.12		%	3.12		%
Weighted average interest rate on mortgages payable - Fannie Mae credit facility	2.78		%	2.78		%
Weighted average interest rate on mortgages payable - other	3.85		%	3.81		%
Weighted average interest rate on total debt	3.27		%	3.26		%

(1)Included within notes payable on the Condensed Consolidated Balance Sheets.

(2)The interest rate swap was terminated in February 2022. Refer to Note 6 - Derivative Instruments for additional information.

Aggregate Amount of Required Future Principal Payments on Mortgages Payable

The aggregate amount of required future principal payments as of June 30, 2022, was as follows:

	(in thousands)
2022 (remainder)	$	2,808
2023	45,988
2024	5,012
2025	106,850
2026	50,088
Thereafter	663,464
Total payments	$	874,210