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Unsecured Revolving Credit Facility (Narrative) (Details) (USD $)
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3 Months Ended | 0 Months Ended | 3 Months Ended | |
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Mar. 31, 2012
Y
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Dec. 31, 2011
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Oct. 20, 2011
Previous Credit Facility [Member]
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Mar. 31, 2012
Money Market Loan [Member]
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| Line Of Credit Facility By Category [Line Items] | ||||
| Number of lending institutions | 20 | |||
| Borrowing capacity under the credit facility | $ 600,000,000 | $ 775,000,000 | $ 75,000,000 | |
| Expandable borrowing capacity under the credit facility | 1,000,000,000 | |||
| Credit facility, extension period (in years) | 1 | |||
| Credit facility fee, basis point | 20 | |||
| Credit facility mature date | October 2015 | |||
| Line of credit facility, bid feature, current borrowing capacity | 300,000,000 | |||
| Terms of the unsecured facility | The terms of the unsecured facility include certain restrictions and covenants which limit, among other things the incurrence of additional indebtedness, the incurrence of liens and the disposition of real estate properties (to the extent that: (i) such property dispositions cause the Company to default on any of the financial ratios of the facility described below, or (ii) the property dispositions are completed while the Company is under an event of default under the facility, unless, under certain circumstances, such disposition is being carried out to cure such default), and which require compliance with financial ratios relating to the maximum leverage ratio, the maximum amount of secured indebtedness, the minimum amount of tangible net worth, the minimum amount of fixed charge coverage, the maximum amount of unsecured indebtedness, the minimum amount of unencumbered property interest coverage and certain investment limitations. | |||
| Terms of dividend restriction | If an event of default has occurred and is continuing, the Company will not make any excess distributions except to enable the Company to continue to qualify as a REIT under the Code. | |||
| Interest rate on outstanding borrowings | LIBOR plus 55 basis points | |||
| Spread over LIBOR | 55 | |||
| Outstanding borrowings under the facility | $ 199,000,000 | $ 55,500,000 | $ 0 | |
| Maturity period of the unsecured borrowing | 30 days or less |
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- Definition
Line Of Credit Facility Basis Point Facility Fee No definition available.
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- Definition
Maximum borrowing amount under the line of credit facility competitive bid feature. No definition available.
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- Details
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- Definition
Line Of Credit Facility Expandable Maximum Borrowing Capacity No definition available.
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- Definition
Line Of Credit Facility Extension Period No definition available.
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- Definition
Line of Credit Facility, Lending Institutions Number No definition available.
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- Definition
Line of Credit Facility, Maturity Period No definition available.
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- Definition
Spread Over Libor No definition available.
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- Definition
The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Description of the conditions for borrowing under the credit facility including the nature of any restrictions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Description of restrictions on the entity's ability to pay dividends as required by the terms of the credit facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Reflects when the credit facility terminates, which may be presented in a variety of ways (year, month and year, day, month and year, quarter). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Description of the interest rate for the amounts borrowed under the credit facility, including the terms and the method for determining the interest rate (for example, fixed or variable, LIBOR plus a percentage, increasing rate, timing of interest rate resets, remarketing provisions). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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