Annual report pursuant to Section 13 and 15(d)

DEBT FINANCING (Tables)

v3.20.4
DEBT FINANCING (Tables)
12 Months Ended
Dec. 31, 2020
Debt Disclosure [Abstract]  
Schedule of debt
The Company's outstanding debt as of December 31, 2020 and 2019 is summarized as follows (dollars in thousands):
December 31,
Interest Rate(1)
2020 2019
Credit Facility:
Revolving line of credit 1.44% $ 174,000  $ — 
Term loan A 3.74% 125,000  125,000 
Term loan B 2.91% 250,000  250,000 
Term loan C 2.80% 225,000  225,000 
Term loan D 3.57% 175,000  175,000 
2023 Term loan facility 2.83% 175,000  175,000 
2028 Term loan facility 4.62% 75,000  75,000 
2029 Term loan facility 4.27% 100,000  100,000 
2029 Senior Unsecured Notes 3.98% 100,000  100,000 
2030 Senior Unsecured Notes 2.99% 150,000  — 
2031 Senior Unsecured Notes 4.08% 50,000  50,000 
2032 Senior Unsecured Notes 3.09% 100,000  — 
Fixed rate mortgages payable 4.26% 223,614  264,260 
Total principal 1,922,614  1,539,260 
Unamortized debt issuance costs and debt premium, net
(5,643) (5,213)
Total debt $ 1,916,971  $ 1,534,047 

(1)Represents the effective interest rate as of December 31, 2020. Effective interest rate incorporates the stated rate plus the impact of interest rate cash flow hedges and discount and premium amortization, if applicable. For the revolving line of credit, the effective interest rate excludes fees for unused borrowings.
Schedule of future debt maturities
Based on existing debt agreements in effect as of December 31, 2020, the scheduled principal and maturity payments for the Company's outstanding borrowings are presented in the table below (in thousands):
Year Ending December 31, Scheduled Principal and Maturity Payments Premium Amortization and Unamortized Debt Issuance Costs Total
2021 $ 7,670  $ (1,675) $ 5,995 
2022 4,374  (1,665) 2,709 
2023 376,813  (1,312) 375,501 
2024 445,964  (943) 445,021 
2025 227,185  (371) 226,814 
Thereafter 860,608  323  860,931 
$ 1,922,614  $ (5,643) $ 1,916,971