INDEBTEDNESS (Tables)

6 Months Ended

Jun. 30, 2014

Debt Disclosure [Abstract]

Schedule of Indebtedness

At June 30, 2014 and December 31, 2013, the Company’s indebtedness consists of the following:

Description	Payment Terms	Interest Rate	Maturity Date	June 30, 2014		December 31, 2013
Senior Unsecured Notes	Int.	3.375% - 4.75%	2017 - 2022(1)	$	400,000	$	400,000
Unsecured Bank Term Loan	Int.	LIBOR + 1.70%(2)	2018		300,000		300,000
Secured Mortgage Notes	Prin. and Int.	5.61% - 5.99%	2018 - 2019(3)		276,760		398,734
Total				$	976,760	$	1,098,734

(1) There are no maturities of senior unsecured notes in 2014. The remaining unsecured notes mature between 2017 and 2022.

(2) Represents stated rate at June 30, 2014. As discussed below, the Company has entered into interest rate swap arrangements that effectively fix the interest rate under this facility. At June 30, 2014, the effective blended interest rate under the Term Loan was 3.24%.

(3) There are no maturities of secured notes in 2014. These notes mature between 2018 and 2019.

Schedule of Aggregate Maturities of Indebtedness

The aggregate maturities of the Company’s indebtedness are as follows:

Remainder of 2014	$	1,987
2015		4,205
2016		4,418
2017		154,736
2018		350,958
Thereafter		460,456
	$	976,760