XML 45 R30.htm IDEA: XBRL DOCUMENT v3.10.0.1
Debt (Tables)
 9 Months Ended
Sep. 30, 2018
Debt Instrument [Line Items]  
Schedule of Long-term Debt Instruments
The Company had the following mortgages and notes payable outstanding as of September 30, 2018 and December 31, 2017:
 
September 30, 2018
 
December 31, 2017
Mortgages and notes payable
$
590,635

 
$
697,068

Unamortized debt issuance costs
(5,266
)
 
(7,258
)
 
$
585,369

 
$
689,810
Debt Instrument Redemption
The Company had the following senior notes outstanding as of September 30, 2018 and December 31, 2017:
Issue Date
 
September 30, 2018
 
December 31, 2017
 
Interest Rate
 
Maturity Date
 
Issue Price
May 2014
 
$
250,000

 
$
250,000

 
4.40
%
 
June 2024
 
99.883
%
June 2013
 
250,000

 
250,000

 
4.25
%
 
June 2023
 
99.026
%
 
 
500,000

 
500,000

 
 
 
 
 
 
Unamortized discount
 
(1,303
)
 
(1,507
)
 
 
 
 
 
 
Unamortized debt issuance cost
 
(2,872
)
 
(3,295
)
 
 
 
 
 
 
 
 
$
495,825

 
$
495,198

 
 
 
 
 
 
Schedule of Line of Credit Facilities
A summary of the significant terms are as follows:
 

Maturity Date
 
Current
Interest Rate
$505,000 Revolving Credit Facility(1)
August 2019
 
LIBOR + 1.00%
$149,000 Term Loan(2)(4)
August 2020
 
LIBOR + 1.10%
$300,000 Term Loan(3)(4)
January 2021
 
LIBOR + 1.10%
(1)
Maturity date can be extended to August 2020 at the Company's option. The interest rate ranges from LIBOR plus 0.85% to 1.55%. At September 30, 2018, the revolving credit facility had no borrowings outstanding and availability of $505,000, subject to covenant compliance.
(2)
Initial balance was $300,000. The interest rate ranges from LIBOR plus 0.90% to 1.75%. The Company previously entered into aggregate interest-rate swap agreements to fix the LIBOR component at a weighted-average rate of 1.09% through February 2018 on the then $250,000 of outstanding LIBOR-based borrowings.
(3)
The interest rate ranges from LIBOR plus 0.90% to 1.75%. The Company previously entered into aggregate interest-rate swap agreements to fix the LIBOR component at a weighted-average rate of 1.42% through January 2019 on $255,000 of outstanding LIBOR-based borrowings.
(4)
The aggregate unamortized debt issuance costs for the term loans were $1,901 and $3,337 as of September 30, 2018 and December 31, 2017, respectively.
LCIF [Member]  
Debt Instrument [Line Items]  
Schedule of Long-term Debt Instruments
The Partnership had the following mortgages and notes payable outstanding as of September 30, 2018 and December 31, 2017:
 
September 30, 2018
 
December 31, 2017
Mortgages and notes payable
$
193,915

 
$
214,303

Unamortized debt issuance costs
(865
)
 
(1,511
)
 
$
193,050

 
$
212,792
Schedule of Line of Credit Facilities
A summary of the significant terms are as follows:
 
Maturity Date
 
Current
Interest Rate
$505,000 Revolving Credit Facility(1)
August 2019
 
LIBOR + 1.00%
$149,000 Term Loan(2)
August 2020
 
LIBOR + 1.10%
$300,000 Term Loan(3)
January 2021
 
LIBOR + 1.10%
(1)
Maturity date can be extended to August 2020 at Lexington's option. The interest rate ranges from LIBOR plus 0.85% to 1.55%. At September 30, 2018, the revolving credit facility had no borrowings outstanding and availability of $505,000 subject to covenant compliance.
(2)
Initial balance was $300,000. The interest rate ranges from LIBOR plus 0.90% to 1.75%. Interest-rate swap agreements were previously entered into to fix the LIBOR component at a weighted-average rate of 1.09% through February 2018 on the then $250,000 of outstanding LIBOR-based borrowings.
(3)
The interest rate ranges from LIBOR plus 0.90% to 1.75%. Interest-rate swap agreements were previously entered into to fix the LIBOR component at a weighted-average rate of 1.42% through January 2019 on $255,000 of outstanding LIBOR-based borrowings.