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Term Loan | 6 Months Ended
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Jun. 30, 2015
Term Loan |
Term Loan | 7.Term Loans In June 2015, in conjunction with entering into our new credit facility, we entered into a $250 million senior unsecured term loan maturing on June 30, 2020. Borrowing under this term loan bears interest at the current one month LIBOR, plus 0.95%. In conjunction with this term loan, we also entered into an interest rate swap which effectively fixes our per annum interest rate on this term loan at 2.67%. In January 2013, in conjunction with our acquisition of American Realty Capital Trust, Inc., or ARCT, we entered into a $70 million senior unsecured term loan maturing January 21, 2018. Borrowing under this term loan bears interest at the current one month LIBOR, plus 1.2%. In conjunction with this term loan, we also entered into an interest rate swap which effectively fixes our per annum interest rate on this term loan at 2.15%. Deferred financing costs of $303,000 are being amortized over the remaining term of this term loan. The net balance of these deferred financing costs, which was $156,000 at June 30, 2015, and $187,000 at December 31, 2014, is included in other assets, net on our consolidated balance sheets.

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- Definition The entire disclosure for information about term loan arrangements, which includes amounts of borrowings under unsecured term loan facilities in conjunction with acquisition. + References No definition available. + Details
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