Debt (Tables)

9 Months Ended

Sep. 30, 2020

Debt Instrument [Line Items]

Summary of Mortgage Notes Payable Activity

The following table summarizes the Company’s mortgage notes payable activity for the nine months ended September 30, 2020 (amounts in thousands):

	Mortgage notes payable, net as of December 31, 2019		Proceeds			Lump sum payoffs			Scheduled principal repayments			Amortization of premiums/ discounts		Amortization of deferred financing costs, net (1)			Mortgage notes payable, net as of September 30, 2020
Fixed Rate Debt:
Secured – Conventional	$	1,574,699	$	495,000	(2)	$	(127,767	)	$	(5,821	)	$	858	$	(1,683	)	$	1,935,286
Floating Rate Debt:
Secured – Conventional		7,050		10,375			—			—			—		180			17,605
Secured – Tax Exempt		359,861		—			—			—			933		148			360,942
Floating Rate Debt		366,911		10,375			—			—			933		328			378,547
Total	$	1,941,610	$	505,375		$	(127,767	)	$	(5,821	)	$	1,791	$	(1,355	)	$	2,313,833

(1) Represents amortization of deferred financing costs, net of debt financing costs.  

(2) Obtained a 2.60% fixed rate mortgage loan pool maturing on May 1, 2030.

The following table summarizes the Company’s debt extinguishment costs on mortgages recorded as additional interest expense during the nine months ended September 30, 2020 (amounts in thousands):

Description	Amount
Write-offs of unamortized deferred financing costs	$	37

Summary of Notes Activity

The following table summarizes the Company’s notes activity for the nine months ended September 30, 2020 (amounts in thousands):

	Notes, net as of December 31, 2019		Proceeds		Lump sum payoffs		Amortization of premiums/ discounts		Amortization of deferred financing costs, net (1)		Notes, net as of September 30, 2020
Fixed Rate Debt:
Unsecured – Public	$	6,077,513	$	—	$	—	$	2,043	$	3,341	$	6,082,897

(1) Represents amortization of deferred financing costs, net of debt financing costs.

Schedule of Unsecured Revolving Credit Facility

The following table presents the availability on the Company’s unsecured revolving credit facility as of September 30, 2020 (amounts in thousands):

	September 30, 2020
Unsecured revolving credit facility commitment	$	2,500,000
Commercial paper balance outstanding		—
Unsecured revolving credit facility balance outstanding		—
Other restricted amounts		(100,949	)
Unsecured revolving credit facility availability	$	2,399,051

Mortgages [Member]

Debt Instrument [Line Items]

Summary of Certain Interest Rate and Maturity Date Information

The following table summarizes certain interest rate and maturity date information as of and for the nine months ended September 30, 2020:

	September 30, 2020
Interest Rate Ranges	0.10% - 4.88%
Weighted Average Interest Rate	3.39%
Maturity Date Ranges	2021-2061

Notes [Member]

Debt Instrument [Line Items]

Summary of Certain Interest Rate and Maturity Date Information

The following table summarizes certain interest rate and maturity date information as of and for the nine months ended September 30, 2020:

	September 30, 2020
Interest Rate Ranges	2.50% - 7.57%
Weighted Average Interest Rate	4.04%
Maturity Date Ranges	2021-2047