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v3.19.3.a.u2

Mortgages Payable | 12 Months Ended
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Dec. 31, 2019
Notes Payable, Noncurrent [Abstract] |
Mortgages Payable | Mortgages Payable: The following table outlines the mortgages payable included in NNN’s consolidated financial statements (dollars in thousands):
Entered |  | Initial Balance |  | Interest Rate |  | Maturity(2) |  | Carrying Value of Encumbered Asset(s)(3) |  | Outstanding Principal Balance at December 31,
2019 |  | 2018
November 2014(1) |  | $ | 15,151 |  |  | 5.23% |  | July 2023 |  | $ | 19,944 |  |  | $ | 12,116 |  |  | $ | 12,768 |
Debt costs |  |  |  |  |  |  |  |  |  | (147 | ) |  | (147 | )
Accumulated amortization |  |  |  |  |  |  |  | 90 |  |  | 73 |
Debt costs, net of accumulated amortization |  |  |  | (57 | ) |  | (74 | )
Mortgages payable, including unamortized premium and net of unamortized debt costs |  |  |  | $ | 12,059 |  |  | $ | 12,694 |
(1) | Date entered represents the date that NNN acquired real estate subject to a mortgage securing a loan. Initial balance and outstanding principal balance includes unamortized premium.
(2) | Monthly payments include interest and principal; the balance is due at maturity.
(3) | The loan is secured by a first mortgage lien on five of the Properties. The carrying values of the assets at December 31, 2019.
The following outlines of the scheduled principal payments, including premium amortization of NNN’s mortgages payable as of December 31, 2019 (dollars in thousands):
2020 | $ | 682 |
2021 | 716 |
2022 | 750 |
2023 | 9,968 |
| $ | 12,116 |

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