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Mortgages Payable (Tables) - Mortgages payable | 9 Months Ended
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Sep. 30, 2023
Debt |
Schedule of Mortgages Payable | The following table summarizes our mortgages payable as of September 30, 2023 and December 31, 2022 (dollars in millions):
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 Financing Costs Balance, net |  | Mortgage Payable Balance
September 30, 2023 | 131 |  | 4.8 | % |  | 3.3 | % |  | 0.7 |  | $ | 822.0 |  |  | $ | 2.3 |  |  | $ | 824.2 |
December 31, 2022 | 136 |  | 4.8 | % |  | 3.3 | % |  | 1.4 |  | $ | 842.3 |  |  | $ | 11.6 |  |  | $ | 853.9 |
(1)At September 30, 2023, there were 16 mortgages on 131 properties and at December 31, 2022, there were 18 mortgages on 136 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 September 30, 2023 and December 31, 2022, all mortgages were at fixed interest rates. (2) Stated interest rates ranged from 3.0% to 6.9% at September 30, 2023 and December 31, 2022, respectively. (3) Effective interest rates ranged from 1.3% to 6.6% and 2.7% to 6.6% at September 30, 2023 and December 31, 2022, respectively.
Schedule of Maturity of Debt, Net | The following table summarizes the maturity of mortgages payable as of September 30, 2023, excluding $2.3 million related to unamortized net premiums and deferred financing costs (dollars in millions):
Year of Maturity |  | Principal
2023 |  | $ | 1.3
2024 |  | 740.5
2025 |  | 42.4
2026 |  | 12.0
2027 |  | 22.3
Thereafter |  | 3.5
Totals |  | $ | 822.0

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