XML 52 R35.htm IDEA: XBRL DOCUMENT
v3.3.1.900

Mortgages Payable (Tables) - Mortgages Payable | 12 Months Ended
--- | ---
Dec. 31, 2015
Credit facility |
Summary of Mortgages payable | The following is a summary of all our mortgages payable as of December 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
12/31/15 | 183 | 4.9% | 4.1% | 3.6 |  | $ | 637,658 |  | $ | 9,082 |  | $ | 646,740
12/31/14 | 241 | 5.0% | 4.0% | 3.7 |  | $ | 836,011 |  | $ | 16,564 |  | $ | 852,575
(1) At December 31, 2015, there were 44 mortgages on 183 properties, while at December 31, 2014, there were 57 mortgages on 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 $51.1 million at December 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. After factoring in arrangements which limit our exposure to interest rate risk and effectively fix our per annum interest rates, our variable rate mortgage debt includes two mortgages totaling $15.5 million at December 31, 2015, and three mortgages totaling $39.1 million at December 31, 2014. (2) Stated interest rates ranged from 2.0% to 6.9% at December 31, 2015 and December 31, 2014. (3) Effective interest rates ranged from 2.2% to 8.9% at December 31, 2015, while effective interest rates ranged from 2.2% to 9.0% at December 31, 2014.
Schedule of maturity mortgages payable, excluding net premiums | The following table summarizes the maturity of mortgages payable, excluding net premiums of $9.1 million, as of December 31, 2015 (dollars in millions):
Year of |  |  |
Maturity |  |  |
2016 |  | $ | 170.1 |
2017 |  | 142.9 |
2018 |  | 15.5 |
2019 |  | 26.3 |
2020 |  | 82.4 |
Thereafter |  | 200.5 |
Totals |  | $ | 637.7 |

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + 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

X
- Details
Name: | us-gaap_DebtInstrumentAxis=us-gaap_MortgagesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |