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MORTGAGE AND OTHER NOTES PAYABLE | 9 Months Ended
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Sep. 30, 2014
Mortgage Loans on Real Estate [Abstract] |
MORTGAGE AND OTHER NOTES PAYABLE | MORTGAGE AND OTHER NOTES PAYABLE The Company completed the following transactions related to mortgage and other notes payable and credit facilities during the nine months ended September 30, 2014: Secured Mortgages:
(dollars in thousands) |  |  | Borrowings |  | Repayments
Property | Date | Description | Amount | Interest Rate | Maturity Date | Amount | Interest Rate
664 N. Michigan | January | New Borrowing | $ | 45,000 |  | LIBOR + 1.65% | 6/28/2018 | $ | — |  |
New Hyde Park Shopping Center | January | Additional Draw | 1,500 |  | LIBOR + 2.25% | 11/10/2015 | — |  |
Heritage Shops | February | Refinancing | 24,500 |  | LIBOR + 1.55% | 2/28/2016 | 20,900 |  | LIBOR + 2.25%
654 Broadway | March | New Borrowing | 9,000 |  | LIBOR + 1.88% | 3/7/2017 | — |  |
Paramus Plaza | March | New Borrowing | 12,600 |  | LIBOR + 1.70% | 2/20/2019 | — |  |
Clark Diversey | April | Repayment | — |  |  | 7/1/2014 | 4,200 |  | 6.35%
Lake Montclair | April | New Borrowing | 15,500 |  | LIBOR + 2.15% | 5/1/2019 | — |  |
New Hyde Park Shopping Center | April | Refinancing | 12,000 |  | LIBOR + 1.85% | 5/1/2017 | 7,700 |  | LIBOR + 2.25%
938 W. North | May | New Borrowing | 12,500 |  | LIBOR + 2.35% | 5/1/2017 | — |  |
1151 Third Ave | June | New Borrowing | 12,500 |  | LIBOR + 1.75% | 6/3/2017 | — |  |
New Loudon Center | June | Repayment | — |  |  | 9/6/2014 | 13,300 |  | 5.64%
Bedford Green | July | Assumption | 29,794 |  | 5.10% | 9/5/2017 | — |  |
City Point (1) | Various | Additional Draw | 60,514 |  |  |  |  |
Total |  |  | $ | 235,408 |  |  |  | $ | 46,100 |  |
Note: (1) As of September 30, 2014, $198.5 million of funds have been released under the Company's EB-5 loan relating to its City Point project into a restricted cash account. $149.2 million has been drawn to fund construction activities, with $49.3 million remaining in the restricted cash account at September 30, 2014. Unsecured Credit Facilities: During the nine months ended September 30, 2014, the Company borrowed $15.0 million on its unsecured credit facility and paid down $15.0 million. As of September 30, 2014, there was no outstanding balance under this facility. During September 2014, the Company amended its unsecured credit facility and its $50.0 million term loan. The amendment extended the maturity date of the unsecured credit facility from January 31, 2016 until January 31, 2018, reduced the interest rate from LIBOR plus 155 basis points to LIBOR plus 140 basis points and reduced the unused fee from 35 basis points to 25 basis points. The amendment also extended the maturity date of the Company's $50.0 million term loan from November 25, 2018 until November 25, 2019 and reduced the interest rate from LIBOR plus 140 basis points to LIBOR plus 130 basis points. During the nine months ended September 30, 2014, the Company borrowed $67.4 million on its Fund IV subscription line and paid down $68.8 million. The outstanding balance under this facility is $67.4 million as of September 30, 2014.

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