Notes Payable and Unsecured Credit Facilities (Tables)

9 Months Ended

Sep. 30, 2018

The Company’s outstanding debt consisted of the following:



(in thousands)	Weighted Average Contractual Rate	Weighted Average Effective Rate	September 30, 2018			December 31, 2017
Notes payable:
Fixed rate mortgage loans	4.8%	4.3%	$	406,072		520,193
Variable rate mortgage loans	3.3%	3.6%	127,796		⁽¹⁾	125,866
Fixed rate unsecured public and private debt	4.0%	4.4%	2,474,724			2,325,656
Total notes payable			3,008,592			2,971,715
Unsecured credit facilities:
Line of Credit (the "Line") ⁽²⁾	2.9%	3.1%	145,000			60,000
Term loans	2.4%	2.5%	563,616			563,262
Total unsecured credit facilities			708,616			623,262
Total debt outstanding			$	3,717,208		3,594,977

⁽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 4.1%.
⁽²⁾ Weighted average effective and contractual rate for the Line is calculated based on a fully drawn Line balance.

As of September 30, 2018, scheduled principal payments and maturities on notes payable and unsecured credit facilities were as follows:



(in thousands)	September 30, 2018
Scheduled Principal Payments and Maturities by Year:	Scheduled Principal Payments		Mortgage Loan Maturities	Unsecured Maturities ⁽¹⁾		Total
2018	$	2,196	—	—		2,196
2019	9,519		13,216	—		22,735
2020	11,287		78,580	300,000		389,867
2021	11,600		77,060	250,000		338,660
2022	11,799		5,848	710,000		727,647
Beyond 5 Years	37,056		269,217	1,950,000		2,256,273
Unamortized debt premium/(discount) and issuance costs	—		6,490	(26,660	)	(20,170	)
Total	$	83,457	450,411	3,183,340		3,717,208

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