Notes Payable and Unsecured Credit Facilities (Tables)

9 Months Ended

Sep. 30, 2017

The Company’s outstanding debt consisted of the following:



(in thousands)	Weighted Average Contractual Rate	Weighted Average Effective Rate	September 30, 2017			December 31, 2016
Notes payable:
Fixed rate mortgage loans	5.0%	4.3%	$	496,869		384,786
Variable rate mortgage loans	2.4%	2.6%	122,036		⁽¹⁾	86,969
Fixed rate unsecured public and private debt	3.8%	4.2%	2,325,081			892,170
Total notes payable			2,943,986			1,363,925
Unsecured credit facilities:
Line of Credit (the "Line") ⁽²⁾	2.1%	2.2%	15,000			15,000
Term loans	2.4%	2.5%	563,144			263,495
Total unsecured credit facilities			578,144			278,495
Total debt outstanding			$	3,522,130		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 September 30, 2017, scheduled principal payments and maturities on notes payable and unsecured credit facilities were as follows:



(in thousands)	September 30, 2017
Scheduled Principal Payments and Maturities by Year:	Scheduled Principal Payments		Mortgage Loan Maturities	Unsecured Maturities ⁽¹⁾		Total
2017	$	2,708	—	—		2,708
2018	10,641		139,976	—		150,617
2019	13,860		13,216	15,000		42,076
2020	11,122		51,580	450,000		512,702
2021	11,426		39,001	250,000		300,427
Beyond 5 Years	48,674		266,179	2,215,000		2,529,853
Unamortized debt premium/(discount) and issuance costs	—		10,522	(26,775	)	(16,253	)
Total	$	98,431	520,474	2,903,225		3,522,130

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