Debt | Debt Debt consisted of the following as of September 30, 2016 and December 31, 2015 (in thousands): September 30, 2016 December 31, 2015 Unsecured revolving credit facility $ 27,000 $ 218,000 Unsecured term loans 500,000 455,000 Unsecured senior notes 950,000 600,000 Fixed rate mortgages loans 209,797 298,030 Variable rate mortgages loans 39,140 28,988 1,725,937 1,600,018 Deferred financing costs, net (9,853 ) (8,411 ) Discount, net (3,486 ) (911 ) Total $ 1,712,598 $ 1,590,696 Unsecured Credit Agreement Unsecured Revolving Credit Facility On February 11, 2015 , we executed an amendment to the unsecured revolving credit and term loan facility (the “Unsecured Credit Agreement”) which increased the amount available under the unsecured revolving credit facility to $850.0 million . The actual amount of credit available to us is a function of certain loan-to-value and debt service coverage ratios set forth in the unsecured revolving credit facility. The maximum principal amount of the unsecured revolving credit facility may be increased, subject to additional financing being provided by our existing lenders or new lenders being added to the unsecured revolving credit facility. The unsecured revolving credit facility matures on January 31, 2020 and is guaranteed by HTA. Borrowings under the unsecured revolving credit facility accrue interest at a rate equal to adjusted LIBOR , plus a margin ranging from 0.88% to 1.55% per annum based on our credit rating. We also pay a facility fee ranging from 0.13% to 0.30% per annum on the aggregate commitments under the unsecured revolving credit facility. As of September 30, 2016 , the margin associated with our borrowings was 1.05% per annum and the facility fee was 0.20% per annum. Unsecured Term Loan As of September 30, 2016 , we had a $300.0 million unsecured term loan outstanding that was guaranteed by HTA. Borrowings accrue interest at a rate equal to adjusted LIBOR , plus a margin ranging from 0.90% to 1.80% per annum based on our credit rating. The margin associated with our borrowings as of September 30, 2016 was 1.15% per annum. Including the impact of the interest rate swaps associated with our unsecured term loan, the interest rate was 1.65% per annum, based on our current credit rating. The unsecured term loan matures on January 31, 2019 , and includes a one -year extension exercisable at the option of the borrower, subject to certain conditions. $200.0 Million Unsecured Term Loan On September 26, 2016 , HTALP executed a $200.0 million unsecured term loan due on September 26, 2023 . Proceeds were used to refinance our $155.0 million unsecured term loan due on July 19, 2019 and pay down existing mortgage loans. Borrowings under the unsecured term loan accrue interest at a rate equal to LIBOR, plus a margin ranging from 1.50% to 2.45% per annum based on our credit rating. The margin associated with our borrowings as of September 30, 2016 was 1.65% per annum. HTALP had interest rate swaps in place that fix the interest rate at 2.76% per annum, based on our current credit rating. As of September 30, 2016 , HTALP had a $200.0 million unsecured term loan outstanding. $300.0 Million Unsecured Senior Notes due 2021 As of September 30, 2016 , HTALP had $300.0 million of unsecured senior notes outstanding that are guaranteed by HTA and that mature on July 15, 2021 . The unsecured senior notes are registered under the Securities Act of 1933, as amended (the “Securities Act”), bear interest at 3.38% per annum and are payable semi-annually. The unsecured senior notes were offered at 99.21% of the principal amount thereof, with an effective yield to maturity of 3.50% per annum. $300.0 Million Unsecured Senior Notes due 2023 As of September 30, 2016 , HTALP had $300.0 million of unsecured senior notes outstanding that are guaranteed by HTA and that mature on April 15, 2023 . The unsecured senior notes are registered under the Securities Act, bear interest at 3.70% per annum and are payable semi-annually. The unsecured senior notes were offered at 99.19% of the principal amount thereof, with an effective yield to maturity of 3.80% per annum. $350.0 million Unsecured Senior Notes due 2026 On July 12, 2016 , HTALP executed $350.0 million unsecured senior notes that are guaranteed by HTA. The unsecured senior notes are registered under the Securities Act, bear interest at 3.50% per annum and are payable semi-annually. The unsecured senior notes were offered at 99.72% of the principal amount thereof, with an effective yield to maturity of 3.53% per annum. As of September 30, 2016 , HTALP had $350.0 million of unsecured senior notes outstanding that mature on August 1, 2026 . Fixed and Variable Rate Mortgages Loans As of September 30, 2016 , HTALP and its subsidiaries had fixed and variable rate mortgages loans with interest rates ranging from 1.95% to 6.26% per annum and a weighted average interest rate of 5.03% per annum. Including the impact of the interest rate swap associated with our variable rate mortgage loans, the weighted average interest rate was 5.43% per annum. Future Debt Maturities The following table summarizes the debt maturities and scheduled principal repayments of our indebtedness as of September 30, 2016 (in thousands): Year Amount 2016 $ 1,433 2017 87,268 2018 4,333 2019 304,580 2020 76,796 Thereafter 1,251,527 Total $ 1,725,937 The above scheduled debt maturities do not include the extension available to us under the Unsecured Credit Agreement as discussed above. Deferred Financing Costs As of September 30, 2016 , the future amortization of deferred financing costs is as follows (in thousands): Year Amount 2016 $ 481 2017 1,829 2018 1,757 2019 1,762 2020 1,320 Thereafter 2,704 Total $ 9,853 We are required by the terms of our applicable debt agreements to meet various affirmative and negative covenants that we believe are customary for these types of facilities, such as limitations on the incurrence of debt by us and our subsidiaries that own unencumbered assets, limitations on the nature of HTALP ’s business, and limitations on distributions by HTALP and its subsidiaries that own unencumbered assets. Our debt agreements also impose various financial covenants on us, such as a maximum ratio of total indebtedness to total asset value, a minimum ratio of EBITDA to fixed charges, a minimum tangible net worth covenant, a maximum ratio of unsecured indebtedness to unencumbered asset value, rent coverage ratios and a minimum ratio of unencumbered net operating income to unsecured interest expense. As of September 30, 2016 , we believe that we were in compliance with all such financial covenants and reporting requirements. In addition, certain of our debt agreements include events of default provisions that we believe are customary for these types of facilities, including restricting HTA from making dividend distributions to its stockholders in the event HTA is in default thereunder, except to the extent necessary for HTA to maintain its REIT status. |