Annual report pursuant to Section 13 and 15(d)

DEBT FINANCING (Tables)

v3.10.0.1
DEBT FINANCING (Tables)
 12 Months Ended
Dec. 31, 2018
Debt Disclosure [Abstract]  
Schedule of debt
The Company's outstanding debt as of December 31, 2018 and 2017 is summarized as follows (dollars in thousands):
 
 
 
December 31,
 
Interest Rate(1)
 
2018
 
2017
Credit Facility:
 
 
 
 
 
Revolving line of credit
3.90%
 
$
139,500

 
$
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

 
—

2023 Term loan facility
3.13%
 
175,000

 
100,000

2028 Term loan facility
4.62%
 
75,000

 
—

Fixed rate mortgages payable
4.18%
 
268,138

 
271,491

Total principal
 
 
1,277,638

 
954,991

Unamortized debt issuance costs and debt premium, net
 
 
464

 
3,106

Total debt
 
 
$
1,278,102

 
$
958,097


(1) 
Represents the effective interest rate as of December 31, 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 December 31, 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
 
Premium Amortization and Unamortized Debt Issuance Costs
 
Total
2019
 
$
5,128

 
$
(361
)
 
$
4,767

2020
 
178,897

 
(699
)
 
178,198

2021
 
242,603

 
(779
)
 
241,824

2022
 
159,205

 
(441
)
 
158,764

2023
 
377,049

 
(42
)
 
377,007

After 2024
 
314,756

 
2,786

 
317,542

 
 
$
1,277,638

 
$
464

 
$
1,278,102