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Debt (Tables)
 6 Months Ended
Jun. 30, 2022
Debt Disclosure [Abstract]  
Schedule of Debt and Lines of Credit
Debt consists of the following ($ in thousands):
 June 30, 2022December 31, 2021Weighted Average
Maturity
In Years as of June 30, 2022
Unsecured debt, net (1)
5,310,486 5,307,196 8.2
Lines of credit (2)
63,175 341,257 
Mortgage notes payable, net (3)
636,589 638,957 8.0
Total debt, net$6,010,250 $6,287,410  
Weighted average interest rate on fixed rate unsecured bonds private placement and bonds public offering3.3 %3.3 % 
Weighted average interest rate on lines of credit1.4 %1.0 %
Weighted average interest rate on mortgage notes payable2.9 %2.7 % 

(1) Unsecured debt, net, consists of fixed rate public bond offerings which includes unamortized discount, net of premiums, of $8.9 million and $9.9 million and unamortized debt issuance costs of $30.6 million and $32.9 million, as of June 30, 2022 and December 31, 2021, respectively.
(2) Lines of credit, related to the Company's two lines of unsecured credit aggregating $1.24 billion as of June 30, 2022, excludes unamortized debt issuance costs of $3.8 million and $4.4 million as of June 30, 2022 and December 31, 2021, respectively. These debt issuance costs are included in prepaid expenses and other assets on the condensed consolidated balance sheets. As of June 30, 2022, the Company’s $1.2 billion credit facility had an interest rate of LIBOR plus 0.75%, which is based on a tiered rate structure tied to the Company’s credit ratings and a scheduled maturity date of September 2025 with three six-month extensions, exercisable at the Company’s option. During the second quarter, the borrowing spread on this facility was reduced by 2.5 basis points as a result of achieving the Enhanced Sustainability Metric Target for 2021 as defined by the facility's sustainability-linked pricing component. In July 2022, the credit facility was amended such that the scheduled maturity date was extended to January 2027 with two 6-month extension options, exercisable at the Company's option. The underlying interest rate on the line is based on a tiered rate structure tied to the Company's corporate ratings and is currently at the Adjusted Secured Overnight Financing Rate ("SOFR") plus 0.75%.
As of June 30, 2022, the Company’s $35.0 million working capital unsecured line of credit had an interest rate of LIBOR plus 0.775%, which is based on a tiered rate structure tied to the Company’s credit ratings, and a scheduled maturity date of February 2023. In July 2022, the line of credit facility was amended such that the scheduled maturity date was extended to July 2024. The underlying interest rate on the line is based on a tiered rate structure tied to the Company's corporate ratings and is currently at Adjusted SOFR plus 0.75%.
(3) Includes total unamortized premium, net of discounts of $1.8 million and $2.5 million, reduced by unamortized debt issuance costs of $1.3 million and $1.5 million, as of June 30, 2022 and December 31, 2021, respectively.
Summary of Aggregate Scheduled Principal Payments
The aggregate scheduled principal payments of the Company’s outstanding debt, excluding lines of credit, as of June 30, 2022 are as follows ($ in thousands):
Remaining in 2022$41,369 
2023302,945 
2024403,109 
2025633,054 
2026549,405 
Thereafter4,056,224 
Total$5,986,106