Notes Payable and Unsecured Credit Facilities (Tables)

3 Months Ended

Mar. 31, 2019

The Company’s outstanding debt consisted of the following:



(in thousands)	Weighted Average Contractual Rate	Weighted Average Effective Rate	March 31, 2019			December 31, 2018
Notes payable:
Fixed rate mortgage loans	4.5%	4.1%	$	360,865		403,306
Variable rate mortgage loans	3.5%	3.6%	127,081		⁽¹⁾	127,850
Fixed rate unsecured public and private debt	4.0%	4.4%	2,521,940			2,475,322
Total notes payable			3,009,886			3,006,478
Unsecured credit facilities:
Line of Credit (the "Line") ⁽²⁾	3.5%	3.7%	110,000			145,000
Term loans	2.4%	2.5%	563,852			563,734
Total unsecured credit facilities			673,852			708,734
Total debt outstanding			$	3,683,738		3,715,212

⁽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 March 31, 2019, scheduled principal payments and maturities on notes payable and unsecured credit facilities were as follows:



(in thousands)	March 31, 2019
Scheduled Principal Payments and Maturities by Year:	Scheduled Principal Payments		Mortgage Loan Maturities	Unsecured Maturities ⁽¹⁾		Total
2019	$	7,284	13,216	—		20,500
2020	11,287		39,074	300,000		350,361
2021	11,599		76,251	—		87,850
2022	11,798		5,848	675,000		692,646
2023	10,043		59,375	—		69,418
Beyond 5 Years	27,013		209,843	2,250,000		2,486,856
Unamortized debt premium/(discount) and issuance costs	—		5,315	(29,208	)	(23,893	)
Total	$	79,024	408,922	3,195,792		3,683,738

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