MORTGAGE LOANS AND NOTES PAYABLE

6 Months Ended

Jun. 30, 2015

8. MORTGAGE LOANS AND NOTES PAYABLE

The Company’s mortgage loans and notes payable are summarized as follows:


	Carrying Value as of:
	June 30,		December 31,		Effective		Maturity
Mortgage Loans and Notes Payable	2015		2014		Interest Rate		Date
	(in thousands)
YSI 29		12,520		12,635	3.69	%	Aug-15
YSI 13		8,365		8,427	3.00	%	Oct-15
YSI 20		—		54,091	5.97	%	Nov-15
YSI 63		7,412		7,466	2.82	%	Dec-15
YSI 59		9,117		9,221	4.82	%	Mar-16
YSI 60		3,578		3,610	5.04	%	Aug-16
YSI 51		7,045		7,105	5.15	%	Sep-16
YSI 64		7,851		7,919	3.54	%	Oct-16
YSI 62		7,899		7,962	3.54	%	Dec-16
YSI 33		10,294		10,429	6.42	%	Jul-19
YSI 26		8,694		8,780	4.56	%	Nov-20
YSI 57		3,052		3,082	4.61	%	Nov-20
YSI 55		23,569		23,767	4.85	%	Jun-21
YSI 24		27,531		27,873	4.64	%	Jun-21
YSI 65		2,521		—	3.85	%	Jun-23
Unamortized fair value adjustment		2,844		3,484
Total mortgage loans and notes payable	$	142,292	$	195,851

As of June 30, 2015 and December 31, 2014, the Company’s mortgage loans payable were secured by certain of its self-storage facilities with net book values of approximately $243 million and $344 million, respectively. The following table represents the future principal payment requirements on the outstanding mortgage loans and notes payable at June 30, 2015 (in thousands):


2015	$	29,454
2016		36,880
2017		1,830
2018		1,934
2019		10,902
2020 and thereafter		58,448
Total mortgage payments		139,448
Plus: Unamortized fair value adjustment		2,844
Total mortgage indebtedness	$	142,292