Unsecured and Secured Indebtedness (Tables)

12 Months Ended

Dec. 31, 2019

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
	2019			2018			2019	2018	December 31, 2019
Unsecured indebtedness:
Senior notes(B)	$	1,660.0		$	1,660.0		3.375%–4.700%	3.375%–4.700%	July 2022– June 2027
Senior notes – discount, net		(3.8	)		(4.3	)
Net unamortized debt issuance costs		(8.2	)		(9.7	)
Total Senior Notes	$	1,648.0		$	1,646.0
Term Loan	$	100.0		$	50.0		2.8%	3.9%	January 2023
Net unamortized debt issuance costs		(0.5	)		(0.3	)
Total Term Loan	$	99.5		$	49.7
Secured indebtedness:
Mortgage indebtedness – Fixed Rate	$	95.2		$	89.0		5.7%	5.9%	April 2020– May 2025
Net unamortized debt issuance costs		(0.3	)		(0.3	)
Total Mortgage Indebtedness	$	94.9		$	88.7

(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, 2019 and 2018.

(B) Effective interest rates ranged from 3.5% to 4.8% at December 31, 2019.

Schedule Principal Payments

The scheduled principal payments of the Revolving Credit Facilities (Note 8) and unsecured and secured indebtedness, excluding extension options, as of December 31, 2019, are as follows (in thousands):

Year	Amount
2020	$	41,684
2021		43,412
2022		200,980
2023		187,030
2024		70,485
Thereafter		1,311,761
		1,855,352
Unamortized fair market value of assumed debt		983
Net unamortized debt issuance costs		(9,038	)
Total indebtedness	$	1,847,297