Notes Payable and Unsecured Credit Facilities (Tables)

6 Months Ended

Jun. 30, 2017

The Company’s outstanding debt consisted of the following:



(in thousands)	Weighted Average Contractual Rate	Weighted Average Effective Rate	June 30, 2017			December 31, 2016
Notes payable:
Fixed rate mortgage loans	4.9%	4.2%	$	500,447		384,786
Variable rate mortgage loans	2.4%	2.6%	119,085		⁽¹⁾	86,969
Fixed rate unsecured public and private debt	4.2%	4.7%	2,325,463			892,170
Total notes payable			2,944,995			1,363,925
Unsecured credit facilities:
Line of Credit (the "Line") ⁽²⁾	1.9%	2.0%	—			15,000
Term loans	2.4%	2.5%	563,031			263,495
Total unsecured credit facilities			563,031			278,495
Total debt outstanding			$	3,508,026		1,642,420

⁽¹⁾ Includes five mortgages, whose interest rates vary on LIBOR based formulas. Three of these variable rate loans have interest rate swaps in place to fix the interest rates at a range of 2.8% to 4.07%
⁽²⁾ Weighted average effective and contractual rate for the Line is calculated based on a fully drawn Line balance.

As of June 30, 2017, scheduled principal payments and maturities on notes payable and unsecured credit facilities were as follows:



(in thousands)	June 30, 2017
Scheduled Principal Payments and Maturities by Year:	Scheduled Principal Payments		Mortgage Loan Maturities	Unsecured Maturities ⁽¹⁾		Total
2017	$	5,372	—	—		5,372
2018	10,641		139,976	—		150,617
2019	10,948		13,216	—		24,164
2020	11,122		51,580	450,000		512,702
2021	11,426		38,998	250,000		300,424
Beyond 5 Years	48,674		266,182	2,215,000		2,529,856
Unamortized debt premium/(discount) and issuance costs	—		11,397	(26,506	)	(15,109	)
Total	$	98,183	521,349	2,888,494		3,508,026

⁽¹⁾ Includes unsecured public debt and unsecured credit facilities.