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Mortgages Payable (Tables) - Mortgages payable | 12 Months Ended
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Dec. 31, 2020
Debt |
Summary of mortgages payable | The following summarizes our mortgages payable as of December 31, 2020 and 2019, respectively (dollars in thousands):
As Of |  | Number of Properties(1) |  | Weighted Average Stated Interest Rate(2) |  | Weighted Average Effective Interest Rate(3) |  | Weighted Average Remaining Years Until Maturity |  | Remaining Principal Balance |  | Unamortized Premium and Deferred Finance Costs Balance, net |  | Mortgage Payable Balance
12/31/2020 |  | 68 |  |  | 4.9 | % |  | 4.6 | % |  | 2.9 |  | $ | 299,631 |  |  | $ | 729 |  |  | $ | 300,360 |
12/31/2019 |  | 92 |  |  | 4.9 | % |  | 4.6 | % |  | 3.1 |  | $ | 408,419 |  |  | $ | 1,700 |  |  | $ | 410,119 |
(1) At December 31, 2020, there were 18 mortgages on 68 properties. At December 31, 2019, there were 27 mortgages on 92 properties. The mortgages require monthly payments with principal payments due at maturity. At December 31, 2020, all mortgages were at fixed interest rates. At December 31, 2019, we had one variable rate mortgage with a principal balance of $7.1 million that was swapped to a fixed interest rate. (2) Stated interest rates ranged from 3.8% to 6.9% at each of December 31, 2020 and 2019, respectively. (3) Effective interest rates ranged from 4.0% to 5.5% at December 31, 2020, while effective interest rates ranged from 3.8% to 7.6% at December 31, 2019.
Schedule of maturity of debt, net | The following table summarizes the maturity of mortgages payable, excluding net premiums of $1.7 million and deferred financing costs of $973,000, as of December 31, 2020 (dollars in millions):
Year of Maturity | Principal
2021 | $ | 44.2 |
2022 | 111.8 |
2023 | 20.6 |
2024 | 112.2 |
2025 | 0.7 |
Thereafter | 10.1 |
Totals | $ | 299.6 |

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- 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
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