Mortgages and Notes Payable (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Schedule of Consolidated Mortgages and Notes Payable

Our mortgages and notes payable consisted of the following:

	December 31,
	2020		2019
Secured indebtedness:
4.00% mortgage loan due 2029 (1)	$	93,350	$	95,303
	93,350		95,303
Unsecured indebtedness:
3.20% (3.363% effective rate) notes due 2021 (2)	149,901		299,369
3.625% (3.752% effective rate) notes due 2023 (3)	249,464		249,201
3.875% (4.038% effective rate) notes due 2027 (4)	297,534		297,134
4.125% (4.271% effective rate) notes due 2028 (5)	347,035		346,621
4.20% (4.234% effective rate) notes due 2029 (6)	349,189		349,091
3.050% (3.079% effective rate) notes due 2030 (7)	399,106		399,009
2.600% (2.645% effective rate) notes due 2031 (8)	398,423		—
Variable rate term loan due 2022 (9)	—		100,000
Variable rate term loan due 2022 (10)	200,000		200,000
Revolving credit facility due 2022	—		221,000
	2,390,652		2,461,425
Less-unamortized debt issuance costs	(13,981)		(13,018)
Total mortgages and notes payable, net	$	2,470,021	$	2,543,710

__________

(1)Our secured mortgage loan was collateralized by real estate assets with an undepreciated book value of $147.9 million at December 31, 2020. We paid down $2.0 million of secured loan balances through principal amortization during 2020.

(2)Net of unamortized original issuance discount of $0.1 million and $0.6 million as of December 31, 2020 and 2019, respectively.

(3)Net of unamortized original issuance discount of $0.5 million and $0.8 million as of December 31, 2020 and 2019, respectively.

(4)Net of unamortized original issuance discount of $2.5 million and $2.9 million as of December 31, 2020 and 2019, respectively.

(5)Net of unamortized original issuance discount of $3.0 million and $3.4 million as of December 31, 2020 and 2019, respectively.

(6)Net of unamortized original issuance discount of $0.8 million and $0.9 million as of December 31, 2020 and 2019, respectively.

(7)Net of unamortized original issuance discount of $0.9 million and $1.0 million as of December 31, 2020 and 2019, respectively.

(8)Net of unamortized original issuance discount of $1.6 million as of December 31, 2020.

(9)This debt was repaid in 2020.

(10)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 $150.0 million was 1.25% at December 31, 2020.

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, 2020:

Years Ending December 31,	Principal Amount
2021	$	150,504
2022	200,686
2023	251,024
2024	1,124
2025 (1)	(185)
Thereafter	1,880,849
Less-unamortized debt issuance costs	(13,981)
	$	2,470,021

__________

(1)Represents amortization of discounts in excess of principal payments due.