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Debt (Tables)
 12 Months Ended
Dec. 31, 2017
Debt Disclosure [Abstract]  
Schedule of Debt
As of December 31, 2017 and 2016, the Company had the following mortgages payable outstanding:
 
December 31, 2017
 
December 31, 2016
Mortgages payable (a)
$
370,804

 
$
374,796

Premium, net of accumulated amortization
478

 
—

Discount, net of accumulated amortization
(195
)
 
(317
)
Debt issuance costs, net of accumulated amortization
(1,611
)
 
(1,772
)
Total mortgages payable, net
$
369,476

 
$
372,707

(a)
Mortgages payable had fixed interest rates (for both conforming loans and loans in default) ranging from 3.49% to 10.45%, with a weighted average interest rate of 5.13% as of December 31, 2017, and 3.49% to 11.24%, with a weighted average interest rate of 4.85%, as of December 31, 2016.
As of December 31, 2017 and 2016, the Company had the following borrowings outstanding under its term loan credit facility:
 
December 31, 2017
 
December 31, 2016
 
 
 
Aggregate
Principal Balance
 
Interest
Rate
 
Aggregate
Principal Balance
 
Interest
Rate
 
Maturity
Date
5 year - swapped to fixed rate (a)
$
90,000

 
2.6510%
 
$
90,000

 
2.6510%
 
1/15/2021
5 year - swapped to fixed rate (b)
60,000

 
2.6525%
 
60,000

 
2.6525%
 
1/15/2021
5 year - variable rate (c)
50,000

 
2.6607%
 
50,000

 
1.9167%
 
1/15/2021
7 year - variable rate (d)
100,000

 
2.9607%
 
100,000

 
2.2167%
 
11/5/2022
Total unsecured term loans
300,000

 
 
 
300,000

 
 
 
 
Issuance costs, net of accumulated amortization
(1,615
)
 
 
 
(2,044
)
 
 
 
 
 
$
298,385

 
 
 
$
297,956

 
 
 
 
(a)
The Company swapped the $90,000 of variable rate debt at an interest rate of 1-Month LIBOR plus 1.3% to a fixed rate of 2.6510%. The swap has an effective date of December 10, 2015, a termination date of December 1, 2019, and a notional amount of $90,000.
(b)
The Company swapped $60,000 of variable rate debt at an interest rate of 1-Month LIBOR plus 1.3% to a fixed rate of 2.6525%. The swap has an effective date of December 10, 2015, a termination date of December 1, 2019, and a notional amount of $60,000.
(c)
Interest rate reflects 1-Month LIBOR plus 1.3% as of December 31, 2017 and 2016.
(d)
Interest rate reflects 1-Month LIBOR plus 1.6% as of December 31, 2017 and 2016.
Schedule Of Maturities For Outstanding Mortgage Indebtedness
As of December 31, 2017, scheduled maturities for the Company's outstanding mortgage indebtedness occur through June 2037, were as follows:
 
Maturities during the year ending December 31,
 
 
 
 
 
2018 (a)
 
2019
 
2020
 
2021
 
2022
 
Thereafter
 
Total
Mortgages payable
$
103,905

 
$
—

 
$
41,000

 
$
12,828

 
$
68,260

 
$
144,811

 
$
370,804

(a)
Mortgages payable in 2018 includes two loans in default with an aggregate carrying value of $44,330, both of which matured during the year ended December 31, 2017.