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MORTGAGE AND OTHER NOTES PAYABLE | 9 Months Ended
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Sep. 30, 2016
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 notes payable during the nine months ended September 30, 2016:
(dollars in thousands) |  |  | Borrowings |  | Repayments
Property | Date | Description | Amount | Interest Rate | Maturity Date | Amount | Interest Rate
Cortlandt Town Center | January | Repayment | $ | — |  | — |  | $ | 83,070 |  | LIBOR+1.65%
1964 Union Street | January | Assumption | 1,463 |  | 3.8% | 10/1/2025 | — |  |
Chicago Street Retail Portfolio | January | Repayment | — |  | — |  | 14,955 |  | 5.62%
Heritage Shops | April | Repayment | — |  | — |  | 24,456 |  | LIBOR+1.55%
330-340 River Street | May | Refinancing | 12,000 |  | LIBOR+1.70% | 6/1/2026 | 10,336 |  | 5.24%
2208-2216 Fillmore Street | June | New borrowing | 5,606 |  | 3.4% | 6/1/2026 | — |  |
1861 Union Street | June | New borrowing | 2,315 |  | 3.4% | 6/1/2026 | — |  |
Brandywine Portfolio | June | Repayment | — |  |  |  | 139,950 |  | 6.0%
Sherman Avenue | July | New borrowing | 14,250 |  | LIBOR+3.25% | 7/1/2018 |  |
146 Geary Street | July | New borrowing | 27,700 |  | LIBOR+3.40% | 7/14/2019 |  |
Concord & Milwaukee | July | Assumption | 2,902 |  | 4.4% | 6/1/2030 |  |
151 North State Street | August | Assumption | 14,556 |  | 4.0% | 12/1/2029 |  |
North & Kingsbury | August | Assumption | 13,409 |  | 4.0% | 11/5/2029 |  |
State & Washington | August | Assumption | 25,651 |  | 4.4% | 9/5/2028 |  |
Restaurants at Fort Point | August | New borrowing | 6,500 |  | LIBOR+2.35% | 8/25/2021 |  |
California & Armitage | September | Assumption | 2,692 |  | 5.9% | 4/15/2035 |  |
Rhode Island Shopping Center | September | Repayment | — |  |  | 12/1/2016 | 15,554 |  | 6.35%
Total |  |  | $ | 129,044 |  |  |  | $ | 288,321 |  |
Additionally, the Company is in default on one loan with respect to $26.3 million of non-recourse mortgage debt which is collateralized by a property, in which the Company holds a 22% interest.

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