Mortgage Notes Payable, Unsecured Notes and Credit Facility (Tables)

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Summary of company's mortgage notes payable, unsecured notes, term loan and credit facility

The following amounts and discussion do not include the mortgage notes related to the communities classified as held for sale, if any, as of December 31, 2018 and 2017, as shown on the Consolidated Balance Sheets (dollars in thousands) (see Note 6, “Real Estate Disposition Activities”).

	12/31/18		12/31/17
Fixed rate unsecured notes (1)	$	5,400,000	$	5,350,000
Variable rate unsecured notes (1)	300,000		300,000
Term Loans (1)	250,000		250,000
Fixed rate mortgage notes payable—conventional and tax-exempt (2)	533,215		593,987
Variable rate mortgage notes payable—conventional and tax-exempt (2)	619,140		910,326
Total mortgage notes payable and unsecured notes and Term Loans	7,102,355		7,404,313
Credit Facility	—		—
Total mortgage notes payable, unsecured notes, Term Loans and Credit Facility	$	7,102,355	$	7,404,313

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(1) Balances at December 31, 2018 and 2017 exclude $9,879 and $10,850, respectively, of debt discount, and $34,128 and $36,386, respectively, of deferred financing costs, as reflected in unsecured notes, net on the accompanying Consolidated Balance Sheets.

(2) Balances at December 31, 2018 and 2017 exclude $14,590 and $16,351 of debt discount, respectively, and $3,495 and $11,256, respectively, of deferred financing costs, as reflected in mortgage notes payable, net on the accompanying Consolidated Balance Sheets.

Scheduled payments and maturities of mortgage notes payable and unsecured notes outstanding

Scheduled payments and maturities of secured notes payable and unsecured notes outstanding at December 31, 2018 are as follows (dollars in thousands):

Year	Secured notes payments		Secured notes maturities		Unsecured notes maturities		Stated interest rate of unsecured notes
2019	3,824		114,722		—		N/A
2020	2,682		140,430		400,000		3.625	%
2021	2,204		27,844		250,000		3.950	%
					300,000		LIBOR + 0.43%
2022	2,318		—		450,000		2.950	%
					100,000		LIBOR + .90%
2023	2,439		—		350,000		4.200	%
					250,000		2.850	%
2024	2,577		—		300,000		3.500	%
					150,000		LIBOR + 1.50%
2025	2,708		84,835		525,000		3.450	%
					300,000		3.500	%
2026	2,845		—		475,000		2.950	%
					300,000		2.900	%
2027	2,270		185,100		400,000		3.350	%
2028	912		—		450,000		3.200	%
Thereafter	30,296		544,349		350,000		3.900	%
					300,000		4.150	%
					300,000		4.350	%
	$	55,075	$	1,097,280	$	5,950,000