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Mortgage Indebtedness (Tables) | 3 Months Ended | 12 Months Ended
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Mar. 31, 2013 | Dec. 31, 2012
Summary of Each Mortgage | Each of our properties is encumbered by a first mortgage. A summary of each mortgage, as of March 31, 2013 and December 31, 2012, is as follows:
|  | Outstanding Principal |  |  |  |  |  |
Property |  | As of March 31, 2013 |  |  | As of December 31, 2012 |  |  | Current Interest Rate |  |  | Maturity Date
Belle Creek Apartments |  |  | 10,575 |  |  |  | 10,575 |  |  |  | 2.5 | (1) |  | April 28, 2021
Centrepoint Apartments |  |  | 17,600 |  |  |  | 17,600 |  |  |  | 3.7 | (2) |  | January 1, 2019
Copper Mill Apartments |  |  | 7,350 |  |  |  | 7,350 |  |  |  | 5.7 | (3) |  | May 1, 2021
Crestmont Apartments |  |  | 6,750 |  |  |  | 6,750 |  |  |  | 5.7 | (3) |  | May 1, 2021
Cumberland Glen Apartments |  |  | 6,900 |  |  |  | 6,900 |  |  |  | 5.7 | (3) |  | May 1, 2021
Heritage Trace Apartments |  |  | 5,500 |  |  |  | 5,500 |  |  |  | 5.7 | (3) |  | May 1, 2021
Runaway Bay Apartments |  |  | 10,238 |  |  |  | 10,238 |  |  |  | 3.6 | (4) |  | November 1, 2022
Tresa at Arrowhead |  |  | 27,500 |  |  |  | 27,500 |  |  |  | 2.5 | (1) |  | April 28, 2021
Total /Weighted-Average |  | $ | 92,413 |  |  | $ | 92,413 |  |  |  | 3.8 | % |  |
(1) | Fixed rate of interest at 2.5% for the first two years with a floating rate thereafter at 225 basis points over 30-day LIBOR. Interest only
(2) | Fixed rate. Interest only payments are due monthly. Beginning February 1, 2015, principal and interest payments are required based on a 30-year amortization schedule
(3) | Fixed rate. Interest only payments are due monthly. Beginning May 1, 2013, principal and interest payments are required based on a 30-year amortization schedule
(4) | Fixed Rate. Interest only payments are due monthly. Beginning December 1, 2013, principal and interest payments are required based on a 30-year amortization schedule
| Each of our properties is encumbered by a first mortgage. A summary of each mortgage, as of December 31, 2012, is as follows:
Property |  | Outstanding Principal |  |  | Current Interest Rate |  |  | Maturity Date |  | Interest Terms
Crestmont Apartments |  | $ | 6,750 |  |  |  | 5.7 | % |  | May 1, 2021 |  | Fixed rate. Interest only payments are due monthly. Beginning May 1, 2013, principal and interest payments are required based on a 30-year amortization schedule.
Cumberland Glen Apartments |  |  | 6,900 |  |  |  | 5.7 |  |  | May 1, 2021 |  | Fixed rate. Interest only payments are due monthly. Beginning May 1, 2013, principal and interest payments are required based on a 30-year amortization schedule.
Copper Mill Apartments |  |  | 7,350 |  |  |  | 5.7 |  |  | May 1, 2021 |  | Fixed rate. Interest only payments are due monthly. Beginning May 1, 2013, principal and interest payments are required based on a 30-year amortization schedule.
Heritage Trace Apartments |  |  | 5,500 |  |  |  | 5.7 |  |  | May 1, 2021 |  | Fixed rate. Interest only payments are due monthly. Beginning May 1, 2013, principal and interest payments are required based on a 30-year amortization schedule.
Belle Creek Apartments |  |  | 10,575 |  |  |  | 2.5 |  |  | April 28, 2021 |  | Fixed rate of interest at 2.5% for the first two years with a floating rate thereafter at 225 basis points over 30-day LIBOR. Interest only.
Tresa at Arrowhead |  |  | 27,500 |  |  |  | 2.5 |  |  | April 28, 2021 |  | Fixed rate of interest at 2.5% for the first two years with a floating rate thereafter at 225 basis points over 30-day LIBOR. Interest only.
Runaway Bay Apartments |  |  | 10,238 |  |  |  | 3.6 |  |  | November 1, 2022 |  | Fixed Rate. Interest only payments are due monthly. Beginning December 1, 2013, principal and interest payments are required based on a 30-year amortization schedule.
Centrepoint Apartments |  |  | 17,600 |  |  |  | 3.7 |  |  | January 1, 2019 |  | Fixed rate. Interest only payments are due monthly. Beginning February 1, 2015, principal and interest payments are required based on a 30-year amortization schedule.
Total/Weighted-Average |  | $ | 92,413 |  |  |  | 3.8 | % |  |  |  |
Maturity of Indebtness |  | The following table displays the principal repayments on of our indebtedness by year:
2013 |  | $ | 213 |
2014 |  |  | 527 |
2015 |  |  | 843 |
2016 |  |  | 905 |
2017 |  |  | 950 |
Thereafter |  |  | 88,975 |
Total |  | $ | 92,413 |

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- Definition Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601 + Details
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- Definition Tabular disclosure of the terms and amounts of participation in loan arrangements. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6401569&loc=d3e10013-112621 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Statement of Position (SOP) -Number 97-1 -Paragraph 17 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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