Annual report pursuant to Section 13 and 15(d)

DEBT FINANCING (Tables)

v3.8.0.1
DEBT FINANCING (Tables)
12 Months Ended
Dec. 31, 2017
Debt Disclosure [Abstract]  
Schedule of debt
The Company's outstanding debt as of December 31, 2017 and 2016 is summarized as follows (dollars in thousands):
 
 
 
December 31,
 
Interest Rate(1)
 
2017
 
2016
Credit Facility:
 
 
 
 
 
Revolving line of credit
2.96%
 
$
88,500

 
$
246,500

Term loan A
2.63%
 
235,000

 
225,000

Term loan B
3.24%
 
155,000

 
100,000

Term loan C
3.71%
 
105,000

 

Term loan facility
3.08%
 
100,000

 
100,000

Fixed rate mortgages payable
4.15%
 
271,491

 
201,694

Total principal
 
 
954,991

 
873,194

Unamortized debt issuance costs and debt premium, net
 
 
3,106

 
5,760

Total debt
 
 
$
958,097

 
$
878,954


(1) 
Represents the effective interest rate as of December 31, 2017. 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, 2017, 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
2018
 
$
10,617

 
$
187

 
$
10,804

2019
 
4,983

 
131

 
5,114

2020
 
127,745

 
(220
)
 
127,525

2021
 
242,509

 
(307
)
 
242,202

2022
 
159,205

 
(25
)
 
159,180

After 2023
 
409,932

 
3,340

 
413,272

 
 
$
954,991

 
$
3,106

 
$
958,097