Mortgages and Notes Payable (Tables)

12 Months Ended

Dec. 31, 2017

Debt Disclosure [Abstract]

Schedule of Consolidated Mortgages and Notes Payable

Our mortgages and notes payable consist of the following:

	December 31,
	2017			2016
Secured indebtedness: (1)
5.10% (4.22% effective rate) mortgage loan due 2017 (2)	$	—		$	109,138
6.11% (5.36% effective rate) mortgage loan due 2017 (2)	—			19,066
4.00% mortgage loan due 2029	98,981			—
	98,981			128,204
Unsecured indebtedness:
5.85% (5.88% effective rate) notes due 2017 (2)	—			379,661
7.50% notes due 2018	200,000			200,000
3.20% (3.363% effective rate) notes due 2021 (3)	298,504			298,072
3.625% (3.752% effective rate) notes due 2023(4)	248,675			248,412
3.875% (4.038% effective rate) notes due 2027 (5)	296,334			—
Variable rate term loan due 2018 (6)	10,000			—
Variable rate term loan due 2020 (7)	225,000			350,000
Variable rate term loan due 2022 (8)	200,000			150,000
Variable rate term loan due 2022 (9)	200,000			200,000
Revolving credit facility due 2022 (10)	245,000			—
	1,923,513			1,826,145
Less-unamortized debt issuance costs	(8,161		)	(6,302		)
Total mortgages and notes payable, net	$	2,014,333		$	1,948,047

__________

(1) Our secured mortgage loans were collateralized by real estate assets with an aggregate undepreciated book value of $147.6 million at December 31, 2017. Our fixed rate mortgage loans generally are either locked out to prepayment for all or a portion of their term or are prepayable subject to certain conditions including prepayment penalties.

(2) This debt was repaid in 2017.

(3) Net of unamortized original issuance discount of $1.5 million and $1.9 million as of December 31, 2017 and 2016, respectively.

(4) Net of unamortized original issuance discount of $1.3 million and $1.6 million as of December 31, 2017 and 2016, respectively.

(5) Net of unamortized original issuance discount of $3.7 million as of December 31, 2017.

(6) The interest rate was 2.46% at December 31, 2017.

(7) As more fully described in Note 7, we entered into floating-to-fixed interest rate swaps that effectively fix LIBOR for $225.0 million of this loan. Accordingly, the equivalent fixed rate of this amount is 2.78%.

(8) As more fully described in Note 7, we entered into floating-to-fixed interest rate swaps that effectively fix LIBOR for $50.0 million of this loan. Accordingly, the equivalent fixed rate of this amount is 2.79%. The interest rate on the remaining $150.0 million was 2.47% at December 31, 2017.

(9) The interest rate was 2.60% at December 31, 2017.

(10) The interest rate was 2.48% at December 31, 2017.

Schedule of Long-term Debt Instruments

The following table sets forth scheduled future principal payments, including amortization, due on our mortgages and notes payable at December 31, 2017:

Years Ending December 31,	Principal Amount
2018	$	210,708
2019	781
2020	225,857
2021	301,170
2022	646,452
Thereafter	637,526
Less-unamortized debt issuance costs	(8,161		)
	$	2,014,333