Mortgages and Notes Payable (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Schedule of Consolidated Mortgages and Notes Payable

Our mortgages and notes payable consist of the following:

	December 31,
	2019			2018
Secured indebtedness:
4.00% mortgage loan due 2029 (1)	$	95,303		$	97,179
	95,303			97,179
Unsecured indebtedness:
3.20% (3.363% effective rate) notes due 2021 (2)	299,369			298,936
3.625% (3.752% effective rate) notes due 2023 (3)	249,201			248,938
3.875% (4.038% effective rate) notes due 2027 (4)	297,134			296,734
4.125% (4.271% effective rate) notes due 2028 (5)	346,621			346,208
4.20% (4.234% effective rate) notes due 2029 (6)	349,091			—
3.050% (3.079% effective rate) notes due 2030 (7)	399,009			—
Variable rate term loan due 2020 (8)	—			225,000
Variable rate term loan due 2022 (9)	100,000			200,000
Variable rate term loan due 2022 (10)	200,000			200,000
Revolving credit facility due 2022 (11)	221,000			182,000
	2,461,425			1,997,816
Less-unamortized debt issuance costs	(13,018		)	(9,164		)
Total mortgages and notes payable, net	$	2,543,710		$	2,085,831

__________

(1) Our secured mortgage loan was collateralized by real estate assets with an undepreciated book value of $147.1 million at December 31, 2019. We paid down $1.9 million of secured loan balances through principal amortization during 2019.

(2) Net of unamortized original issuance discount of $0.6 million and $1.1 million as of December 31, 2019 and 2018, respectively.

(3) Net of unamortized original issuance discount of $0.8 million and $1.1 million as of December 31, 2019 and 2018, respectively.

(4) Net of unamortized original issuance discount of $2.9 million and $3.3 million as of December 31, 2019 and 2018, respectively.

(5) Net of unamortized original issuance discount of $3.4 million and $3.8 million as of December 31, 2019 and 2018, respectively.

(6) Net of unamortized original issuance discount of $0.9 million as of December 31, 2019.

(7) Net of unamortized original issuance discount of $1.0 million as of December 31, 2019.

(8) This debt was repaid in 2019.

(9) 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 through January 2022. Accordingly, the equivalent fixed rate of this amount is 2.79%. The interest rate on the remaining $50.0 million was 2.81% at December 31, 2019.

(10) The interest rate was 2.90% at December 31, 2019.

(11) The interest rate was 2.73% at December 31, 2019.

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, 2019:

Years Ending December 31,	Principal Amount
2020	$	248
2021	300,560
2022	521,842
2023	251,180
2024	1,281
Thereafter	1,481,617
Less-unamortized debt issuance costs	(13,018		)
	$	2,543,710