XML 37 R30.htm IDEA: XBRL DOCUMENT
v2.4.1.9

Mortgages Payable (Tables) (Mortgages Payable) | 3 Months Ended
--- | ---
Mar. 31, 2015
Mortgages Payable |
Credit facility |
Summary of Mortgages payable | The following is a summary of all our mortgages payable as of March 31, 2015 and December 31, 2014, respectively (dollars in thousands):
|  |  |  | Weighted |  | Weighted |  | Weighted |  |  |  |  |  |  |
|  |  |  | Average |  | Average |  | Average |  |  |  |  |  |  |
|  |  |  | Stated |  | Effective |  | Remaining |  | Remaining |  | Unamortized |  | Mortgage |
|  | Number of |  | Interest |  | Interest |  | Years Until |  | Principal |  | Premium |  | Payable |
As Of |  | Properties(1) |  | Rate(2) |  | Rate(3) |  | Maturity |  | Balance |  | Balance, net |  | Balance |
3/31/15 |  | 238 |  | 5.0% |  | 4.0% |  | 3.7 |  | $ 784,715 |  | $ 14,603 |  | $ 799,318 |
12/31/14 |  | 241 |  | 5.0% |  | 4.0% |  | 3.7 |  | $ 836,011 |  | $ 16,564 |  | $ 852,575 |
| (1) |  | At March 31, 2015, there were 54 mortgages on the 238 properties, while at December 31, 2014, there were 57 mortgages on the 241 properties. The mortgages require monthly payments, with principal payments due at maturity. The mortgages are at fixed interest rates, except for four mortgages on 13 properties totaling $50.9 million at March 31, 2015, including net unamortized discounts. At December 31, 2014, five mortgages on 14 properties totaling $74.5 million, including net unamortized discounts, were at variable interest rates. All of these variable rate mortgages were acquired with arrangements which limit our exposure to interest rate risk.
| (2) |  | Stated interest rates ranged from 2.0% to 6.9% at March 31, 2015 and December 31, 2014.
| (3) |  | Effective interest rates ranged from 2.2% to 9.0% at March 31, 2015 and December 31, 2014.
Schedule of maturity mortgages payable, excluding net premiums | The following table summarizes the maturity of mortgages payable, excluding net premiums of $14.6 million, as of March 31, 2015 (dollars in millions):
Year of |  |  |
Maturity |  |  |
2015 |  | $ | 68.4 |
2016 |  | 248.4 |
2017 |  | 142.5 |
2018 |  | 15.1 |
2019 |  | 26.0 |
Thereafter |  | 284.3 |
Totals |  | $ | 784.7 |

X
- Details
Name: | us-gaap_DebtInstrumentLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601 + Details
Name: | us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration