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Mortgages Payable (Tables) - Mortgages | 3 Months Ended
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Mar. 31, 2025
Debt |
Schedule of Debt | The following table summarizes our mortgages payable as of March 31, 2025 and December 31, 2024 (dollars in millions):
As Of | Number of Properties (1) |  | Weighted Average Stated Interest Rate |  | Weighted Average Effective Interest Rate |  | Weighted Average Remaining Years Until Maturity |  | Remaining Principal Balance |  | Unamortized Discount and Deferred Financing Costs Balance, net |  | Mortgages Payable Balance
March 31, 2025 | 16 |  | 4.8 | % |  | 5.9 | % |  | 2.4 |  | $ | 43.0 |  |  | $ | (0.4) |  |  | $ | 42.6 |
December 31, 2024 | 17 |  | 4.0 | % |  | 4.5 | % |  | 1.4 |  | $ | 81.3 |  |  | $ | (0.5) |  |  | $ | 80.8 |
(1)At March 31, 2025, there were 10 mortgages on 16 properties and at December 31, 2024, there were 11 mortgages on 17 properties. The mortgages require monthly payments with principal payments due at maturity. At March 31, 2025 and December 31, 2024, all mortgages were at fixed interest rates.
Schedule of Maturity of Debt, Net | The following table summarizes the maturity of mortgages payable as of March 31, 2025, excluding $0.4 million related to unamortized net discounts and deferred financing costs (dollars in millions):
Year of Maturity |  | Principal
2025 |  | $ | 5.1
2026 |  | 12.0
2027 |  | 22.3
2028 |  | 1.3
2029 |  | 1.3
Thereafter |  | 1.0
Total |  | $ | 43.0

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