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Mortgages and Notes Payable (Tables)
12 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments
The Company had the following mortgages and notes payable outstanding as of December 31, 2021 and 2020:
December 31, 2021December 31, 2020
Mortgages and notes payable$84,429 $138,412 
Unamortized debt issuance costs(1,337)(1,883)
$83,092 $136,529 
Schedule of Line of Credit Facilities The maturity dates and interest rates as of December 31, 2021, are as follows:
Maturity DateInterest Rate
$600,000 Revolving Credit Facility(1)
February 2023LIBOR + 0.90%
$300,000 Term Loan(2)
January 2025LIBOR + 1.00%
(1)Maturity date of the revolving credit facility can be extended to February 2024 at the Company's option. The interest rate ranges from LIBOR plus 0.775% to 1.45%. At December 31, 2021, the Company had no borrowings outstanding and availability of $600,000, subject to covenant compliance.
(2)The LIBOR portion of the interest rate was swapped to obtain a current fixed rate of 2.732% per annum. The aggregate unamortized debt issuance costs for the term loan was $1,554 and $2,057 as of December 31, 2021 and 2020, respectively.
Schedule of Maturities of Long-term Debt
Scheduled principal and balloon payments for mortgages, notes payable and term loan for the next five years and thereafter are as follows:
Year ending
December 31,
Total
2022$11,275 
202312,265 
20245,373 
20255,570 
20265,773 
Thereafter44,173 
84,429 
Unamortized debt issuance costs(1,337)
$83,092 
Scheduled principal payments for these debt instruments for the next five years and thereafter are as follows:
Year ending December 31,Total
2022$— 
2023— 
2024198,932 
2025— 
2026— 
Thereafter929,120 
1,128,052 
Unamortized debt discounts(3,655)
Unamortized debt issuance costs(8,871)
$1,115,526