A summary of the Company’s consolidated indebtedness is as follows (dollars in thousands):

	Interest Rate at						Carrying Value at
	March 31,		December 31,		Maturity Date at		March 31,			December 31,
	2019		2018		March 31, 2019		2019			2018
Mortgages Payable
Core Fixed Rate	3.88%-6.00%		3.88%-6.00%		Feb 2024 - Apr 2035		$	177,778		$	178,271
Core Variable Rate - Swapped ^(a)	3.41%-5.67%		3.41%-5.67%		Jan 2023 - Nov 2028			82,327			82,583
Total Core Mortgages Payable								260,105			260,854
Fund II Fixed Rate	1.00%-4.75%		1.00%-4.75%		May 2020 - Aug 2042			205,262			205,262
Fund II Variable Rate	LIBOR+1.39%-LIBOR+3.00%			—	March 2022			23,484			—
Fund II Variable Rate - Swapped ^(a)	4.27%		4.27%		Nov 2021			19,264			19,325
Total Fund II Mortgages Payable								248,010			224,587
Fund III Variable Rate	LIBOR+2.65%-LIBOR+4.65%		Prime+0.50%-LIBOR+4.65%		Jun 2020 - Jul 2020			89,908			90,096
Fund IV Fixed Rate	3.40%-4.50%		3.40%-4.50%		Oct 2025 - Jun 2026			8,188			8,189
Fund IV Variable Rate	LIBOR+1.60%-LIBOR+3.95%		LIBOR+1.60%-LIBOR+3.95%		May 2019 - Aug 2021			231,884			233,065
Fund IV Variable Rate - Swapped ^(a)	3.67%-4.81%		3.67%-4.23%		Mar 2020 - Dec 2022			73,848			71,841
Total Fund IV Mortgages Payable								313,920			313,095
Fund V Variable Rate	LIBOR+2.15%-LIBOR+2.25%		LIBOR+2.25%		Oct 2020 - Jan 2021			51,506			51,506
Fund V Variable Rate - Swapped ^(a)	4.01%-4.78%		4.61%-4.78%		Feb 2021 - Mar 2024			156,900			86,570
Total Fund V Mortgage Payable								208,406			138,076
Net unamortized debt issuance costs								(11,917	)		(10,173	)
Unamortized premium								728			753
Total Mortgages Payable							$	1,109,160		$	1,017,288
Unsecured Notes Payable
Core Term Loans		—	LIBOR+1.25%		Mar 2023		$	—		$	383
Core Variable Rate Unsecured Term Loans - Swapped ^(a)	2.49%-4.05%		2.54%-3.59%		Mar 2023			350,000			349,617
Total Core Unsecured Notes Payable								350,000			350,000
Fund II Unsecured Notes Payable	LIBOR+1.65%		LIBOR+1.40%		Sep 2020			40,000			40,000
Fund IV Term Loan/Subscription Facility	LIBOR+1.65%-LIBOR+2.75%		LIBOR+1.65%-LIBOR+2.75%		Oct 2019 - Dec 2019			40,825			40,825
Fund V Subscription Facility	LIBOR+1.60%		LIBOR+1.60%		May 2020			50,600			102,800

Net unamortized debt issuance costs								(406	)		(368	)
Total Unsecured Notes Payable							$	481,019		$	533,257
Unsecured Line of Credit
Core Unsecured Line of Credit		—		—		—	$	—		$	—
Core Unsecured Line of Credit - Swapped ^(a)	4.15%-5.02%			—	Mar 2022			9,000			—
Total Unsecured Line of Credit							$	9,000		$	—

Total Debt - Fixed Rate ^(b)(c)							$	1,173,129		$	1,001,658
Total Debt - Variable Rate ^(d)								437,645			558,675
Total Debt								1,610,774			1,560,333
Net unamortized debt issuance costs								(12,323	)		(10,541	)
Unamortized premium								728			753
Total Indebtedness							$	1,599,179		$	1,550,545

(a)

At March 31, 2019, the stated rates ranged from LIBOR + 1.70% to LIBOR +1.90% for Core variable-rate debt; LIBOR + 1.39% for Fund II variable-rate debt; LIBOR + 2.65% to LIBOR + 4.65% for Fund III variable-rate debt; LIBOR + 1.60% to LIBOR +3.95% for Fund IV variable-rate debt; LIBOR + 2.15% to LIBOR + 2.25% for Fund V variable-rate debt; LIBOR + 1.25% for Core variable-rate unsecured term loans; and LIBOR + 1.35% for Core variable-rate unsecured lines of credit.

(b)

Includes $691.3 million and $609.9 million, respectively, of variable-rate debt that has been fixed with interest rate swap agreements as of the periods presented.

(c)

Fixed-rate debt at March 31, 2019 includes $90.5 million of swaps that are not designated to specific debt instruments.

(d)

Includes $167.3 million and $143.8 million, respectively, of variable-rate debt that is subject to interest cap agreements.

On February 20, 2018, the Company entered into a $500.0 million senior unsecured credit facility (the “Credit Facility”), comprised of a $150.0 million senior unsecured revolving credit facility (the “Revolver”) which bears interest at LIBOR + 1.35%, and a $350.0 million senior unsecured term loan (the “Term Loan”) which bears interest at LIBOR + 1.25%. The Credit Facility refinanced the Company’s existing $300.0 million credit facility (comprised of the $150.0 million Core unsecured revolving line of credit and the $150.0 million term loan), $150.0 million in Core unsecured term loans and repaid a $40.4 million mortgage secured by its 664 North Michigan Property. The Revolver and Term Loans mature on March 31, 2022 and March 31, 2023, respectively.

During the three months ended March 31, 2019, the Company obtained four new Fund mortgages totaling $118.3 million with a weighted-average interest rate of LIBOR + 1.64% collateralized by four properties and maturing in 2022 through 2024. The Company entered into interest rate swap contracts to effectively fix the variable portion of the interest rates of three of these obligations with a notional value of $72.6 million at an interest rate of 2.42%. In addition, the Company drew down $4.5 million on a Fund III construction loan. During the three months ended March 31, 2019, one Fund III mortgage, which had a balance of $4.7 million and an interest rate of Prime + 0.5%, was assumed by the purchasing venture in a property sale (As discussed above, the Core unsecured revolving line of credit was refinanced in February 2018. The Company had a total of $120.7 million and $137.7 million, respectively, available under its $150.0 million Core unsecured revolving lines of credit reflecting borrowings of $9.0 million and $0 million, respectively, and letters of credit of $20.3 million and $12.3 million at March 31, 2019 and December 31, 2018, respectively. At March 31, 2019 and December 31, 2018, all of the Core unsecured revolving line of credit was swapped to a fixed rate.

The scheduled principal repayments of the Company’s consolidated indebtedness, as of March 31, 2019 are as follows (in thousands):

See Note 4 for information about liabilities of the Company’s unconsolidated affiliates.