Quarterly report pursuant to Section 13 or 15(d)

DEBT FINANCING (Tables)

v3.10.0.1
DEBT FINANCING (Tables)
6 Months Ended
Jun. 30, 2018
Debt Disclosure [Abstract]  
Schedule of debt
The Company's outstanding debt as of June 30, 2018 and December 31, 2017 is summarized as follows (dollars in thousands):
 
 
 
 
 
 
 
Interest Rate(1)
 
June 30, 2018
 
December 31, 2017
Credit Facility:
 
 
 
 
 
Revolving line of credit
3.49%
 
$
80,125

 
$
88,500

Term loan A
2.91%
 
235,000

 
235,000

Term loan B
2.94%
 
155,000

 
155,000

Term loan C
3.71%
 
105,000

 
105,000

Term loan D
3.79%
 
125,000

 

Term loan facility
2.95%
 
175,000

 
100,000

Fixed rate mortgages payable
4.17%
 
273,335

 
271,491

Total principal
 
 
1,148,460

 
954,991

Unamortized debt issuance costs and debt premium, net
 
 
1,329

 
3,106

Total debt
 
 
$
1,149,789

 
$
958,097


(1) 
Represents the effective interest rate as of June 30, 2018. 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 June 30, 2018, 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
 
Amortization of Premium and Unamortized Debt Issuance Costs
 
Total
Remainder of 2018
 
$
5,197

 
$
(115
)
 
$
5,082

2019
 
5,128

 
(253
)
 
4,875

2020
 
119,522

 
(605
)
 
118,917

2021
 
242,603

 
(684
)
 
241,919

2022
 
159,205

 
(308
)
 
158,897

2023
 
377,049

 
73

 
377,122

Thereafter
 
239,756

 
3,221

 
242,977

 
 
$
1,148,460

 
$
1,329

 
$
1,149,789