| Schedule of credit facilities outstanding |
The Company classifies the senior revolving credit facilities as current liabilities on the Company’s consolidated balance sheets as amounts drawn to acquire and renovate homes are required to be repaid as the related real estate inventory is sold, which the Company expects to occur within 12 months. The following table summarizes certain details related to the Company’s credit facilities outstanding as of December 31, 2020 and 2019 (in thousands, except interest rates):
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Weighted
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Average
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End of
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Final
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Borrowing
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Outstanding
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Interest
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Revolving
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Maturity
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As of December 31, 2019
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Capacity
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Amount
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Rate
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Period
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Date
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Revolving Facility 2018-1
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$
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250,000
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$
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—
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4.28
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%
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February 10, 2021
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May 10, 2021
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Revolving Facility 2018-2
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750,000
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—
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4.36
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%
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September 23, 2022
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December 23, 2022
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Revolving Facility 2018-3
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100,000
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25,385
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4.19
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%
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June 1, 2023
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June 1, 2023
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Revolving Facility 2019-1
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300,000
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32,535
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3.58
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%
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March 4, 2022
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March 4, 2022
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Revolving Facility 2019-2
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1,030,000
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230,352
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3.08
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%
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July 8, 2021
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July 7, 2022
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Revolving Facility 2019-3
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475,000
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50,901
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3.60
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%
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August 22, 2022
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August 21, 2023
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Total
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$
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2,905,000
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$
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339,173
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Weighted
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Average
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Outstanding
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Interest
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As of December 31, 2019
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Amount
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Rate
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Revolving Facility 2016-1
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$
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39,346
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6.17
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%
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Revolving Facility 2017-1
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25,758
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7.00
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%
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Revolving Facility 2018-1
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126,450
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5.62
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%
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Revolving Facility 2018-2
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194,293
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6.00
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%
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Revolving Facility 2018-3
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111,411
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4.65
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%
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Revolving Facility 2019-1
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206,399
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3.81
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%
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Revolving Facility 2019-2
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327,226
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3.41
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%
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Revolving Facility 2019-3
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42,812
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3.02
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%
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Total
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$
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1,073,695
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| Summary of details related to our credit facilities and mezzanine term debt facilities outstanding |
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Final
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Borrowing
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Outstanding
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Interest
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End of Draw
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Maturity
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As of December 31, 2020
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Capacity
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Amount
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Rate
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Period
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Date
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Term Debt Facility 2016-M1
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$
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149,000
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$
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40,000
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10.00
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%
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October 31, 2022
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April 30, 2024
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Term Debt Facility 2020-M1
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300,000
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100,000
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10.00
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%
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January 23, 2023
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January 23, 2026
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Total
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$
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449,000
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$
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140,000
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Issuance Costs
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(4,533)
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Carrying Value
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$
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135,467
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| Schedule of mortgage financing |
The following tables summarize certain details related to the Company’s mortgage financing (in thousands, except interest rates):
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Weighted
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End of
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Final
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Borrowing
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Outstanding
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Average
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Revolving
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Maturity
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As of December 31, 2020
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Capacity
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Amount
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Interest Rate
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Period
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Date
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Repo Facility 2019-R1
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$
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50,000
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$
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7,149
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1.94
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%
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April 29, 2021
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April 29, 2021
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Outstanding
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Weighted Average
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As of December 31, 2019
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Amount
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Interest Rate
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Repo Facility 2019-R1
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$
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2,021
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3.98
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%
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