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MORTGAGES PAYABLE (Tables) | 3 Months Ended
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Mar. 31, 2020
Debt Disclosure [Abstract] |
Schedule of Mortgages Payable | The following is a summary of mortgages payable as of March 31, 2020 and December 31, 2019.
|  |  |  | Interest Rate at |  | March 31, |  | December 31,
(Amounts in thousands) |  | Maturity |  | March 31, 2020 |  | 2020 |  | 2019
First mortgages secured by: |  |  |  |  |  |  |  |  |
Variable rate |  |  |  |  |  |  |  |
Cherry Hill (Plaza at Cherry Hill)(1) |  | 5/24/2022 |  | 3.18% |  | $ | 28,930 |  |  | $ | 28,930 |
Westfield (One Lincoln Plaza)(1) |  | 5/24/2022 |  | 3.18% |  | 4,730 |  |  | 4,730 |
Woodbridge (Plaza at Woodbridge)(1) |  | 5/25/2022 |  | 3.18% |  | 55,340 |  |  | 55,340 |
Jersey City (Hudson Commons)(2) |  | 11/15/2024 |  | 3.48% |  | 28,862 |  |  | 29,000 |
Watchung(2) |  | 11/15/2024 |  | 3.48% |  | 26,871 |  |  | 27,000 |
Bronx (1750-1780 Gun Hill Road)(2) |  | 12/1/2024 |  | 3.48% |  | 24,418 |  |  | 24,500 |
Total variable rate debt |  |  |  |  |  | 169,151 |  |  | 169,500 |
Fixed rate |  |  |  |  |  |  |  |
Montehiedra (senior loan) |  | 7/6/2021 |  | 5.33% |  | 82,876 |  |  | 83,202 |
Montehiedra (junior loan) |  | 7/6/2021 |  | 3.00% |  | 30,000 |  |  | 30,000 |
Bergen Town Center - West, Paramus |  | 4/8/2023 |  | 3.56% |  | 300,000 |  |  | 300,000 |
Bronx (Shops at Bruckner) |  | 5/1/2023 |  | 3.90% |  | 10,823 |  |  | 10,978 |
Jersey City (Hudson Mall)(4) |  | 12/1/2023 |  | 5.07% |  | 23,445 |  |  | 23,625 |
Yonkers Gateway Center(5) |  | 4/6/2024 |  | 4.16% |  | 29,717 |  |  | 30,122 |
Las Catalinas |  | 8/6/2024 |  | 4.43% |  | 128,822 |  |  | 129,335 |
Brick |  | 12/10/2024 |  | 3.87% |  | 50,000 |  |  | 50,000 |
North Plainfield |  | 12/10/2025 |  | 3.99% |  | 25,100 |  |  | 25,100 |
Middletown |  | 12/1/2026 |  | 3.78% |  | 31,400 |  |  | 31,400 |
Rockaway |  | 12/1/2026 |  | 3.78% |  | 27,800 |  |  | 27,800 |
East Hanover (200 - 240 Route 10 West) |  | 12/10/2026 |  | 4.03% |  | 63,000 |  |  | 63,000 |
North Bergen (Tonnelle Ave) |  | 4/1/2027 |  | 4.18% |  | 100,000 |  |  | 100,000 |
Manchester |  | 6/1/2027 |  | 4.32% |  | 12,500 |  |  | 12,500 |
Millburn |  | 6/1/2027 |  | 3.97% |  | 23,694 |  |  | 23,798 |
Totowa |  | 12/1/2027 |  | 4.33% |  | 50,800 |  |  | 50,800 |
Woodbridge (Woodbridge Commons) |  | 12/1/2027 |  | 4.36% |  | 22,100 |  |  | 22,100 |
East Brunswick |  | 12/6/2027 |  | 4.38% |  | 63,000 |  |  | 63,000 |
East Rutherford |  | 1/6/2028 |  | 4.49% |  | 23,000 |  |  | 23,000 |
Brooklyn (Kingswood Center)(6) |  | 2/6/2028 |  | 5.07% |  | 72,356 |  |  | — |
Hackensack |  | 3/1/2028 |  | 4.36% |  | 66,400 |  |  | 66,400 |
Marlton |  | 12/1/2028 |  | 3.86% |  | 37,400 |  |  | 37,400 |
East Hanover Warehouses |  | 12/1/2028 |  | 4.09% |  | 40,700 |  |  | 40,700 |
Union (2445 Springfield Ave) |  | 12/10/2028 |  | 4.01% |  | 45,600 |  |  | 45,600 |
Freeport (Freeport Commons) |  | 12/10/2029 |  | 4.07% |  | 43,100 |  |  | 43,100 |
Garfield |  | 12/1/2030 |  | 4.14% |  | 40,300 |  |  | 40,300 |
Mt Kisco(3) |  | 11/15/2034 |  | 6.40% |  | 13,359 |  |  | 13,488 |
Total fixed rate debt |  |  |  |  |  | 1,457,292 |  |  | 1,386,748 |
|  | Total mortgages payable |  | 1,626,443 |  |  | 1,556,248 |
|  | Unamortized debt issuance costs |  | (9,590 | ) |  | (10,053 | )
Total mortgages payable, net of unamortized debt issuance costs |  | 1,616,853 |  |  | 1,546,195 |
Unsecured credit facilities: |  |  |  |  |  |  |  |
Revolving credit agreement(7) |  | 1/29/2024 |  | 2.00% |  | 250,000 |  |  | — |
|  | Total unsecured credit facilities |  | 250,000 |  |  | — |
Total debt outstanding |  | $ | 1,866,853 |  |  | $ | 1,546,195 |
(1) | Bears interest at one month LIBOR plus 160 bps.
(2) | Bears interest at one month LIBOR plus 190 bps.
(3) | The mortgage payable balance on the loan secured by Mt Kisco includes $0.9 million of unamortized debt discount as of both March 31, 2020 and December 31, 2019. The effective interest rate including amortization of the debt discount is 7.30% as of March 31, 2020.
(4) | The mortgage payable balance on the loan secured by Hudson Mall includes $0.9 million and $1.0 million of unamortized debt premium as of March 31, 2020 and December 31, 2019, respectively. The effective interest rate including amortization of the debt premium is 3.85% as of March 31, 2020.
(5) | The mortgage payable balance on the loan secured by Yonkers Gateway Center includes $0.5 million and $0.6 million of unamortized debt premium as of March 31, 2020 and December 31, 2019, respectively. The effective interest rate including amortization of the debt premium is 3.70% as of March 31, 2020.
(6) | The mortgage payable balance on the loan secured by Kingswood Center includes $6.9 million of unamortized debt premium as of March 31, 2020. The effective interest rate including amortization of the debt premium is 3.44% as of March 31, 2020.
(7) | Bears interest at one month LIBOR plus 1.05% as of March 31, 2020.
Schedule of Principal Repayments | As of March 31, 2020, the principal repayments of the Company’s total outstanding debt for the next five years and thereafter are as follows:
(Amounts in thousands) |  |
Year Ending December 31, |  |
2020(1) |  | $ | 6,335 |
2021 |  | 123,177 |
2022 |  | 100,586 |
2023 |  | 345,242 |
2024 |  | 525,191 |
2025 |  | 33,181 |
Thereafter |  | 742,731 |
(1) Remainder of 2020.

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