Unsecured and Secured Indebtedness (Tables)

12 Months Ended

Dec. 31, 2016

Debt Disclosure [Abstract]

Summary of Unsecured and Secured Indebtedness

The following table discloses certain information regarding the Company’s unsecured and secured indebtedness (in millions):

	Carrying Value at December 31,						Interest Rate(A) at December 31,				Maturity Date at
	2016			2015			2016		2015		December 31, 2016
Unsecured indebtedness:
Senior notes(B)	$	2,932.2		$	3,172.2		3.375%–7.875%		3.375%–9.625%		April 2017– February 2026
Senior notes – discount, net		(5.0	)		(5.9	)
Net unamortized debt issuance costs		(14.0	)		(17.1	)
Total Senior Notes	$	2,913.2		$	3,149.2
Unsecured Term Loan	$	400.0		$	400.0			1.9%		1.5%	April 2017
Net unamortized debt issuance costs		(1.6	)		(2.1	)
Total Unsecured Term Loan	$	398.4		$	397.9
Secured indebtedness:
Secured Term Loan	$	200.0		$	200.0			2.1%		1.8%	April 2017
Net unamortized debt issuance costs		(0.2	)		(0.7	)
Total Secured Term Loan	$	199.8		$	199.3
Mortgage indebtedness – Fixed Rate	$	959.1		$	1,109.1			4.9%		5.0%	April 2017– February 2022
Mortgage indebtedness – Variable Rate		26.2			78.0			1.8%		1.8%	March 2017
Net unamortized debt issuance costs		(2.8	)		(3.9	)
Total Mortgage Indebtedness	$	982.5		$	1,183.2

(A) The interest rates reflected above for the senior notes represent the range of the coupon rate of the notes outstanding.  All other interest rates presented are a weighted average of the outstanding debt. Interest rate on variable-rate debt was calculated using the base rate and spreads in effect at December 31, 2016 and 2015.

(B) Effective interest rate ranged from 3.5% to 8.1% at December 31, 2016.

Scheduled Principal Payments

The scheduled principal payments of the Revolving Credit Facilities (Note 6) and unsecured and secured indebtedness, excluding extension options, as of December 31, 2016, are as follows (in thousands):

Year	Amount
2017	$	1,124,292
2018		489,212
2019		185,819
2020		649,367
2021		394,455
Thereafter		1,662,772
		4,505,917
Unamortized fair market value of assumed debt		6,593
Net unamortized debt issuance costs		(18,542	)
Total indebtedness	$	4,493,968