XML 29 R43.htm IDEA: XBRL DOCUMENT v2.4.0.6
Indebtedness (Narrative) (Detail) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 9 Months Ended 9 Months Ended 1 Months Ended 9 Months Ended 1 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2012
Sep. 30, 2012
Sep. 30, 2011
Jan. 31, 2012
Sep. 30, 2012
5.45% Senior Unsecured Notes [Member]
Sep. 30, 2012
Cash Management Line [Member]
OptionPlan
Oct. 31, 2012
5.5% Mortgage Notes Payable [Member]
Subsequent Event [Member]
Nov. 07, 2012
3.375% Unsecured Debt [Member]
Subsequent Event [Member]
Dec. 03, 2012
6.30% Unsecured Debt [Member]
Subsequent Event [Member]
Future Estimate [Member]
Sep. 30, 2012
Unsecured Bank Term Loan [Member]
OptionPlan
Oct. 31, 2012
Unsecured Bank Term Loan [Member]
Jul. 02, 2012
Unsecured Bank Term Loan [Member]
May 31, 2012
Unsecured Bank Term Loan [Member]
Jan. 31, 2012
Unsecured Bank Term Loan [Member]
Oct. 31, 2012
Lines of Credit [Member]
Sep. 30, 2012
Lines of Credit [Member]
Dec. 31, 2011
Lines of Credit [Member]
Debt Instrument [Line Items]                                  
Senior unsecured notes repaid upon their maturity         $ 95,684                        
Stated interest rate on notes payable         5.45%   5.50% 3.375% 6.30%                
Secured mortgage indebtedness repaid             53,027                    
Maturity date             January 2013 2022   2018           2016  
Senior unsecured notes, issued               250,000 130,091 300,000             135,000
Expected debt extinguishment loss   301             4,100                
Term loan facility, borrowing capacity       300,000                          
Term loan facility, borrowing amount                       70,000 130,000 100,000      
Interest Rate, spread over LIBOR                   1.90% [1]         1.225% 1.40% [2]  
Unused commitment fees                   0.25%              
Interest rate based on credit ratings ranges, minimum                   1.50%           1.00%  
Interest rate based on credit ratings ranges, maximum                   2.30%           1.80%  
Number of six-month extension options                   2              
LIBOR component of the interest rate                   1.54%              
Effective blended fixed rate                   3.44% 3.24%            
Maturity date                   Jan. 01, 2018              
Line of credit facility, current borrowing capacity           30,000                   300,000  
Interest rate based on credit ratings ranges, maximum                                 2.30%
Line of credit facility annual facility fees percentage                             0.225% 0.30%  
Previous line of credit facility annual facility fees percentage                                 0.45%
Line of credit facility, expiration year           January 2016                   January 2016  
Facility fee rate based on credit ratings range, minimum                               0.15%  
Facility fee rate based on credit ratings range, maximum                               0.40%  
Line of credit facility, competitive bid option for short-term funds, percentage                               50.00%  
Letters of credit issued   575                              
Number of extension options           1                      
Unamortized deferred financing costs   $ 5,159 $ 3,984                            
Coverages ratio 1.5                                
Company's ratio 2.0                                
Unencumbered assets to unsecured debt 1.5                                
Leverage ratio 60.00%                                
Total secured debt to total asset value 40.00%                                
Line of credit facility, covenant terms The Company's Syndicated Line, Cash Management Line, Term Loan and senior unsecured notes contain customary restrictions, representations, covenants and events of default and require the Company to meet certain financial covenants. Debt service and fixed charge coverage covenants require the Company to maintain                                
[1] Represents stated rate at September 30, 2012. As discussed below and effective October 1, 2012, the stated interest rate was reduced to LIBOR plus 1.70%. As also discussed below, the Company has entered into interest rate swap arrangements that effectively fix the interest rate under this facility. At September 30, 2012, the effective blended interest rate under the Term Loan was 3.44%. Effective October 1, 2012, the effective blended interest rate was reduced to 3.24%.
[2] Represents stated rate at September 30, 2012. As discussed below and effective October 1, 2012, the stated rate was reduced to LIBOR plus 1.225%.