Annual report pursuant to Section 13 and 15(d)

DEBT FINANCING - Narrative (Details)

v3.19.3.a.u2
DEBT FINANCING - Narrative (Details)
3 Months Ended 5 Months Ended 12 Months Ended
Jul. 29, 2019
USD ($)
Jun. 05, 2018
USD ($)
Dec. 31, 2019
USD ($)
property
Sep. 30, 2019
USD ($)
Jun. 30, 2019
USD ($)
Mar. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Sep. 30, 2018
USD ($)
Jun. 30, 2018
USD ($)
Mar. 31, 2018
USD ($)
Dec. 31, 2019
USD ($)
property
Dec. 31, 2019
USD ($)
property
Dec. 31, 2018
USD ($)
property
Aug. 30, 2019
USD ($)
Apr. 24, 2019
USD ($)
Dec. 21, 2018
USD ($)
Jun. 30, 2016
USD ($)
Debt Instrument [Line Items]                                  
Carrying value     $ 1,539,260,000       $ 1,277,638,000       $ 1,539,260,000 $ 1,539,260,000 $ 1,277,638,000        
Number of mortgages assumed     $ 0 $ 0 $ 0 $ 0 0 $ 0 $ 0 $ 7,581,000   $ 0 $ 7,581,000        
Number of properties related to assumed mortgages | property                         4        
Interest rate swap                                  
Debt Instrument [Line Items]                                  
Aggregate notional amount                             $ 100,000,000.0    
Credit Facility                                  
Debt Instrument [Line Items]                                  
Extension fee (percent) 0.075%                                
Unsecured Debt | Credit Facility                                  
Debt Instrument [Line Items]                                  
Amended credit facility total borrowing capacity increase $ 255,000,000.0                                
Maximum borrowing capacity 1,275,000,000                                
Maximum borrowing capacity if expansion option is exercised $ 1,750,000,000                                
Maximum total leverage ratio                     60.00%            
Maximum total leverage ratio allowable within two quarters of material acquisition                     65.00%            
Minimum fixed charge coverage ratio                     1.5            
Maximum unsecured debt to unencumbered asset value ratio                     60.00%            
Maximum unsecured debt to unencumbered asset value ratio allowable within two quarters of material acquisition                     65.00%            
Minimum encumbered adjusted net operating income to unsecured interest expense ratio                     2.0            
Unsecured Debt | Credit Facility | Fed Funds Rate                                  
Debt Instrument [Line Items]                                  
Basis spread on variable rate (percent) 0.50%                                
Unsecured Debt | Credit Facility | LIBOR                                  
Debt Instrument [Line Items]                                  
Basis spread on variable rate (percent) 1.00%                                
Unsecured Debt | Credit Facility | LIBOR | Minimum                                  
Debt Instrument [Line Items]                                  
Leverage based applicable margin (percent) 1.15%                                
Credit pricing elective applicable margin (percent) 0.78%                                
Unsecured Debt | Credit Facility | LIBOR | Maximum                                  
Debt Instrument [Line Items]                                  
Leverage based applicable margin (percent) 2.20%                                
Credit pricing elective applicable margin (percent) 2.25%                                
Unsecured Debt | Credit Facility | Base Rate | Minimum                                  
Debt Instrument [Line Items]                                  
Leverage based applicable margin (percent) 0.15%                                
Credit pricing elective applicable margin (percent) 0.00%                                
Unsecured Debt | Credit Facility | Base Rate | Maximum                                  
Debt Instrument [Line Items]                                  
Leverage based applicable margin (percent) 1.20%                                
Credit pricing elective applicable margin (percent) 1.25%                                
Unsecured Debt | 2023 Term loan facility                                  
Debt Instrument [Line Items]                                  
Maximum borrowing capacity if expansion option is exercised   $ 400,000,000.0                              
Effective interest rate (percent)     2.83%               2.83% 2.83%          
Debt instrument, face amount                                 $ 100,000,000.0
Maximum expansion option                                 $ 100,000,000.0
Aggregate amount of expansion option exercised   75,000,000.0                              
Carrying value   175,000,000.0 $ 175,000,000       175,000,000       $ 175,000,000 $ 175,000,000 $ 175,000,000        
Expansion option capacity increase   200,000,000.0                              
Current borrowing capacity   $ 225,000,000.0                              
Minimum number of rating agencies required | property     2               2 2          
Unsecured Debt | 2023 Term loan facility | Fed Funds Rate                                  
Debt Instrument [Line Items]                                  
Basis spread on variable rate (percent)                       0.50%          
Unsecured Debt | 2023 Term loan facility | LIBOR                                  
Debt Instrument [Line Items]                                  
Basis spread on variable rate (percent)                       1.00%          
Unsecured Debt | 2023 Term loan facility | LIBOR | Minimum                                  
Debt Instrument [Line Items]                                  
Leverage based applicable margin (percent)                       1.30%          
Credit pricing elective applicable margin (percent)                       0.90%          
Unsecured Debt | 2023 Term loan facility | LIBOR | Maximum                                  
Debt Instrument [Line Items]                                  
Leverage based applicable margin (percent)                       1.70%          
Credit pricing elective applicable margin (percent)                       1.75%          
Unsecured Debt | 2023 Term loan facility | Base Rate | Minimum                                  
Debt Instrument [Line Items]                                  
Leverage based applicable margin (percent)                       0.30%          
Credit pricing elective applicable margin (percent)                       0.00%          
Unsecured Debt | 2023 Term loan facility | Base Rate | Maximum                                  
Debt Instrument [Line Items]                                  
Leverage based applicable margin (percent)                       0.70%          
Credit pricing elective applicable margin (percent)                       0.75%          
Unsecured Debt | 2028 Term loan facility                                  
Debt Instrument [Line Items]                                  
Maximum borrowing capacity if expansion option is exercised                               $ 125,000,000.0  
Effective interest rate (percent)     4.62%               4.62% 4.62%          
Debt instrument, face amount                               $ 75,000,000.0  
Carrying value     $ 75,000,000       75,000,000       $ 75,000,000 $ 75,000,000 75,000,000        
Minimum number of rating agencies required | property     2               2 2          
Unsecured Debt | 2028 Term loan facility | Fed Funds Rate                                  
Debt Instrument [Line Items]                                  
Basis spread on variable rate (percent)                       0.50%          
Unsecured Debt | 2028 Term loan facility | LIBOR                                  
Debt Instrument [Line Items]                                  
Basis spread on variable rate (percent)                       1.00%          
Unsecured Debt | 2028 Term loan facility | LIBOR | Minimum                                  
Debt Instrument [Line Items]                                  
Leverage based applicable margin (percent)                       1.80%          
Credit pricing elective applicable margin (percent)                       1.40%          
Unsecured Debt | 2028 Term loan facility | LIBOR | Maximum                                  
Debt Instrument [Line Items]                                  
Leverage based applicable margin (percent)                       2.35%          
Credit pricing elective applicable margin (percent)                       2.25%          
Unsecured Debt | 2028 Term loan facility | Base Rate | Minimum                                  
Debt Instrument [Line Items]                                  
Leverage based applicable margin (percent)                       0.80%          
Credit pricing elective applicable margin (percent)                       0.40%          
Unsecured Debt | 2028 Term loan facility | Base Rate | Maximum                                  
Debt Instrument [Line Items]                                  
Leverage based applicable margin (percent)                       1.35%          
Credit pricing elective applicable margin (percent)                       1.25%          
Unsecured Debt | 2029 Term loan facility                                  
Debt Instrument [Line Items]                                  
Effective interest rate (percent)     4.27%               4.27% 4.27%     4.27%    
Debt instrument, face amount                             $ 100,000,000.0    
Carrying value     $ 100,000,000       0       $ 100,000,000 $ 100,000,000 0        
Minimum number of rating agencies required | property     2               2 2          
Unsecured Debt | 2029 Term loan facility | Fed Funds Rate                                  
Debt Instrument [Line Items]                                  
Basis spread on variable rate (percent)                       0.50%          
Unsecured Debt | 2029 Term loan facility | LIBOR                                  
Debt Instrument [Line Items]                                  
Basis spread on variable rate (percent)                       1.00%          
Unsecured Debt | 2029 Term loan facility | LIBOR | Minimum                                  
Debt Instrument [Line Items]                                  
Leverage based applicable margin (percent)                       1.85%          
Credit pricing elective applicable margin (percent)                       1.40%          
Unsecured Debt | 2029 Term loan facility | LIBOR | Maximum                                  
Debt Instrument [Line Items]                                  
Leverage based applicable margin (percent)                       2.30%          
Credit pricing elective applicable margin (percent)                       2.25%          
Unsecured Debt | 2029 Term loan facility | Base Rate | Minimum                                  
Debt Instrument [Line Items]                                  
Leverage based applicable margin (percent)                       0.85%          
Credit pricing elective applicable margin (percent)                       0.40%          
Unsecured Debt | 2029 Term loan facility | Base Rate | Maximum                                  
Debt Instrument [Line Items]                                  
Leverage based applicable margin (percent)                       1.30%          
Credit pricing elective applicable margin (percent)                       1.25%          
Unsecured Debt | 2029 Senior Unsecured Notes                                  
Debt Instrument [Line Items]                                  
Effective interest rate (percent)     3.98%               3.98% 3.98%          
Debt instrument, face amount                           $ 100,000,000.0      
Carrying value     $ 100,000,000       0       $ 100,000,000 $ 100,000,000 0        
Debt instrument, fixed interest rate (percent)                           3.98%      
Unsecured Debt | 2031 Senior Unsecured Notes                                  
Debt Instrument [Line Items]                                  
Effective interest rate (percent)     4.08%               4.08% 4.08%          
Debt instrument, face amount                           $ 50,000,000.0      
Carrying value     $ 50,000,000       0       $ 50,000,000 $ 50,000,000 0        
Debt instrument, fixed interest rate (percent)                           4.08%      
Mortgages | Fixed Rate Mortgages Payable                                  
Debt Instrument [Line Items]                                  
Effective interest rate (percent)     4.16%               4.16% 4.16%          
Carrying value     $ 264,260,000       268,138,000       $ 264,260,000 $ 264,260,000 268,138,000        
Number of mortgages assumed                         7,600,000        
Mortgages | Fixed Rate Mortgages Payable | Minimum                                  
Debt Instrument [Line Items]                                  
Effective interest rate (percent)     3.63%               3.63% 3.63%          
Mortgages | Fixed Rate Mortgages Payable | Maximum                                  
Debt Instrument [Line Items]                                  
Effective interest rate (percent)     5.00%               5.00% 5.00%          
Revolving line of credit | Credit Facility | Minimum                                  
Debt Instrument [Line Items]                                  
Usage based fees with respect to unused portion of Revolver (percent) 0.15%                                
Ratings based fees if credit pricing elected (percent) 0.125%                                
Revolving line of credit | Credit Facility | Maximum                                  
Debt Instrument [Line Items]                                  
Usage based fees with respect to unused portion of Revolver (percent) 0.20%                                
Ratings based fees if credit pricing elected (percent) 0.30%                                
Revolving line of credit | Line of Credit | Credit Facility                                  
Debt Instrument [Line Items]                                  
Maximum borrowing capacity $ 500,000,000.0                                
Effective interest rate (percent)     3.06%               3.06% 3.06%          
Revolving line of credit remaining borrowing capacity     $ 494,300,000               $ 494,300,000 $ 494,300,000          
Carrying value     $ 0       139,500,000       $ 0 $ 0 139,500,000        
Term Loan A | Unsecured Debt | Credit Facility                                  
Debt Instrument [Line Items]                                  
Maximum borrowing capacity 125,000,000.0                                
Effective interest rate (percent)     3.74%               3.74% 3.74%          
Carrying value     $ 125,000,000       235,000,000       $ 125,000,000 $ 125,000,000 235,000,000        
Term Loan B | Unsecured Debt | Credit Facility                                  
Debt Instrument [Line Items]                                  
Maximum borrowing capacity 250,000,000.0                                
Effective interest rate (percent)     2.91%               2.91% 2.91%          
Carrying value     $ 250,000,000       155,000,000       $ 250,000,000 $ 250,000,000 155,000,000        
Term Loan C | Unsecured Debt | Credit Facility                                  
Debt Instrument [Line Items]                                  
Maximum borrowing capacity 225,000,000.0                                
Effective interest rate (percent)     2.80%               2.80% 2.80%          
Carrying value     $ 225,000,000       105,000,000       $ 225,000,000 $ 225,000,000 105,000,000        
Term Loan D | Unsecured Debt | Credit Facility                                  
Debt Instrument [Line Items]                                  
Maximum borrowing capacity $ 175,000,000.0                                
Effective interest rate (percent)     3.57%               3.57% 3.57%          
Carrying value     $ 175,000,000       $ 125,000,000       $ 175,000,000 $ 175,000,000 $ 125,000,000        
Letter of credit | Line of Credit | Credit Facility                                  
Debt Instrument [Line Items]                                  
Letters of credit outstanding     $ 5,700,000               $ 5,700,000 $ 5,700,000