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Debt (Tables)
 9 Months Ended
Sep. 30, 2019
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments
The Company had the following mortgages and notes payable outstanding as of September 30, 2019 and December 31, 2018:
 
September 30, 2019
 
December 31, 2018
Mortgages and notes payable
$
378,249

 
$
575,514

Unamortized debt issuance costs
(3,706
)
 
(5,094
)
 
$
374,543

 
$
570,420
Debt Instrument Redemption
The Company had the following senior notes outstanding as of September 30, 2019 and December 31, 2018:
Issue Date
 
September 30, 2019
 
December 31, 2018
 
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 debt discount
 
(1,031
)
 
(1,235
)
 
 
 
 
 
 
Unamortized debt issuance cost
 
(2,308
)
 
(2,731
)
 
 
 
 
 
 
 
 
$
496,661

 
$
496,034

 
 
 
 
 
 
Schedule of Line of Credit Facilities A summary of the significant terms, as of September 30, 2019, is as follows:
 

Maturity Date
 
Current
Interest Rate
$600,000 Revolving Credit Facility(1)
February 2023
 
LIBOR + 0.90%
$300,000 Term Loan(1)(2)
January 2025
 
LIBOR + 1.00%
(1)
In February 2019, the Company replaced its revolving credit facility and the $300,000 term loan with a new revolving credit facility and the continuation of the $300,000 term loan (the “2019 Credit Agreement”). The 2019 Credit Agreement, among other things: (i) increased the total commitment of the revolving credit facility from $505,000 under the previous credit facility to $600,000 under the 2019 Credit Agreement; (ii) extended the maturity date of the revolving credit facility from August 2019 to February 2023 and allowed for the extension to February 2024 at the Company's option; and (iii) reduced the applicable margin rates. In July 2019, the Company extended the maturity of the $300,000 term loan from January 2021 to January 2025 and swapped the LIBOR portion of the interest rate to obtain a current fixed rate of 2.732% per annum. The Company recognized $93 of debt satisfaction charges in connection with these transactions.
At September 30, 2019, the revolving credit facility had no borrowings outstanding and availability of $600,000, subject to covenant compliance.
(2)
The aggregate unamortized debt issuance costs for the term loan was $2,687 and $1,267 as of September 30, 2019 and December 31, 2018, respectively.