Indebtedness (Tables)

12 Months Ended

Dec. 31, 2014

The following table discloses certain information regarding our indebtedness:



	Outstanding Balance at						Interest Rate at December 31, 2014	Effective Interest Rate at Issuance	Maturity Date
	December 31, 2014			December 31, 2013			Interest Rate at December 31, 2014	Effective Interest Rate at Issuance	Maturity Date
Mortgage Loans Payable, Net	$	599,985		$	677,890		4.03% – 8.26%	4.03% – 8.26%	February 2016 – September 2022
Unamortized Premiums	(90		)	(115		)
Mortgage Loans Payable, Gross	$	599,895		$	677,775
Senior Unsecured Notes, Net
2016 Notes	$	159,621		$	159,566		5.750%	5.91%	1/15/2016
2017 Notes	54,966			54,960			7.500%	7.52%	12/1/2017
2027 Notes	6,066			6,066			7.150%	7.11%	5/15/2027
2028 Notes	31,884			31,883			7.600%	8.13%	7/15/2028
2032 Notes	10,518			10,514			7.750%	7.87%	4/15/2032
2014 Notes	—			81,149			N/A	N/A	6/1/2014
2017 II Notes	101,806			101,778			5.950%	6.37%	5/15/2017
Subtotal	$	364,861		$	445,916
Unamortized Discounts	241			980
Senior Unsecured Notes, Gross	$	365,102		$	446,896
Unsecured Term Loan*	$	200,000		N/A			1.906%	1.906%	1/29/2021
Unsecured Credit Facility**	$	185,000		$	173,000		1.662%	1.662%	9/29/2017

* We entered into interest rate protection agreements, with an aggregate notional value of $200,000, to effectively convert the variable rate to a fixed rate. See Note 13.

** The maturity date may be extended an additional year at our election, subject to certain restrictions.

Senior Unsecured Notes Repurchases

During the year ended December 31, 2013, we repurchased and retired the following senior unsecured notes prior to maturity:



	Principal Amount Repurchased		Purchase Price
2017 Notes	430		482
2017 II Notes	5,000		5,300
2028 Notes	23,394		26,547
2032 Notes	1,000		1,163
Total	$	29,824	$	33,492

Schedule of Maturities of Long-Term Debt

The following is a schedule of the stated maturities and scheduled principal payments of our indebtedness, exclusive of premiums and discounts, for the next five years ending December 31, and thereafter:



	Amount
2015	$	12,158
2016	251,870
2017	353,723
2018	168,341
2019	76,423
Thereafter	487,482
Total	$	1,349,997

Summary of Indebtedness at Estimated Fair Value

At December 31, 2014 and 2013, the fair value of our indebtedness was as follows:



	December 31, 2014				December 31, 2013
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Mortgage Loans Payable, Net	$	599,985	$	640,818	$	677,890	$	684,914
Senior Unsecured Debt, Net	364,861		395,320		445,916		482,781
Unsecured Term Loan	200,000		200,575		N/A		N/A
Unsecured Credit Facility	185,000		185,747		173,000		173,000
Total	$	1,349,846	$	1,422,460	$	1,296,806	$	1,340,695