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Mortgages Payable (Tables) - Mortgages payable | 12 Months Ended
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Dec. 31, 2021
Debt |
Summary of mortgages payable | The following summarizes our mortgages payable as of December 31, 2021 and 2020, 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
12/31/2021 |  | 267 |  |  | 4.8 | % |  | 3.5 | % |  | 1.8 |  | $ | 1,114,129 |  |  | $ | 27,866 |  |  | $ | 1,141,995 |
12/31/2020 |  | 68 |  |  | 4.9 | % |  | 4.6 | % |  | 2.9 |  | $ | 299,631 |  |  | $ | 729 |  |  | $ | 300,360 |
(1) At December 31, 2021, there were 22 mortgages on 267 properties. At December 31, 2020, there were 18 mortgages on 68 properties. With the exception of one Sterling-denominated mortgage which is paid quarterly, the mortgages require monthly payments with principal payments due at maturity. At December 31, 2021 and December 31, 2020, all mortgages were at fixed interest rates. (2) Stated interest rates ranged from 3.0% to 6.9% and 3.8% to 6.9% at each of December 31, 2021 and 2020, respectively. (3) Effective interest rates ranged from 2.6% to 6.0% and 4.0% to 5.5% at each of December 31, 2021 and 2020, respectively.
Schedule of maturity of debt, net | The following table summarizes the maturity of mortgages payable, excluding net premiums of $28.7 million and deferred financing costs of $790,000, as of December 31, 2021 (in millions):
Year of Maturity | Principal
2022 | $ | 271.1 |
2023 | 62.1 |
2024 | 733.0 |
2025 | 42.0 |
2026 | 1.2 |
Thereafter | 4.7 |
Totals | $ | 1,114.1 |

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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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- Definition Tabular disclosure of maturity and sinking fund requirement for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=123465755&loc=d3e1835-112601 + Details
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