3 unchanged sentences
The fixed rate debt obligations limit the risk of fluctuating interest rates.
−Removed: At December 31, 2019 , we had $1.7 billion of fixed rate debt outstanding at a weighted average interest rate of 3.97% .
−Removed: At December 31, 2018 , we had $817.4 million of fixed rate debt outstanding at a weighted average interest rate of 3.86%.
−Removed: The amount of fixed-rate debt outstanding increased from 2018 to 2019 primarily due to the 2019 fundings of three tranches of senior unsecured notes for a total of $650 million, the assumption of the $66 million Legacy Union One mortgage note in the Merger with TIER, and the assumption of the $195 million mortgage notes when we purchased our partner's interest in TOH.
+Added: As of December 31, 2020 and 2019, we had $1.7 billion of fixed rate debt outstanding at a weighted average interest rate of 3.95% and 3.97%, respectively.
At December 31, 2020, we had $482.4 million of variable rate debt outstanding, which consisted of the Credit Facility with $232.4 million outstanding at an interest rate of 1.19% and the $250.0 million Term Loan with an interest rate of 1.34%.
−Removed: As of December 31, 2018 , we had $250.0 million of variable rate debt outstanding, which consisted of the $250.0 million Term Loan with an interest rate of 3.70%.
+Added: At December 31, 2019, we had $250.0 million of variable rate debt outstanding, which consisted of the $250.0 million Term Loan with an interest rate of 3.70%.
Based on our average variable rate debt balances in 2020, interest incurred would have increased by $3.8 million in 2020 if these interest rates had been 1% higher.
1 unchanged sentence
We did not have a significant level of notes receivable at December 31, 2020.
+Added: Table of C ontents
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.