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Mortgage Notes Payable | 12 Months Ended
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Dec. 31, 2012
Notes Payable, Noncurrent [Abstract] |
Mortgage Notes Payable | MORTGAGE NOTES PAYABLE As of December 31, 2012 and 2011, we had outstanding mortgage notes payable, each collateralized by one or more buildings and related land from our portfolio, as follows (in thousands):
|  |  |  |  |  | December 31, |  |
Properties |  | Assumption/Issuance Date (1) |  | Effective Interest Rate (2) |  | 2012 |  | 2011 |  | Payoff Date/Maturity Date
John Marshall II |  | 9/15/2011 |  | 5.79 | % |  | $ | 53,274 |  |  | $ | 53,936 |  |  | 5/6/2016
Olney Village Center |  | 8/30/2011 |  | 4.94 | % |  | 22,343 |  |  | 23,873 |  |  | 10/1/2023
Kenmore Apartments |  | 2/2/2009 |  | 5.37 | % |  | 35,535 |  |  | 36,097 |  |  | 3/1/2019
2445 M Street (3) |  | 12/2/2008 |  | 7.25 | % |  | 96,848 |  |  | 95,593 |  |  | 1/6/2017
3801 Connecticut Avenue, Walker House and Bethesda Hill (4) |  | 5/29/2008 |  | 5.71 | % |  | 81,029 |  |  | 81,029 |  |  | 6/1/2017
Ashburn Farm Office Park |  | 6/1/2007 |  | 5.56 | % |  | 2,313 |  |  | 2,438 |  |  | 5/31/2025
Ashburn Farm III Office Park |  | 6/1/2007 |  | 5.69 | % |  | 2,024 |  |  | 2,159 |  |  | 7/31/2023
Woodholme Medical Office Center |  | 6/1/2007 |  | 5.29 | % |  | 19,608 |  |  | 19,954 |  |  | 11/1/2015
West Gude Drive |  | 8/25/2006 |  | 5.86 | % |  | 29,996 |  |  | 30,761 |  |  | 1/11/2013
15005 Shady Grove Road (5) |  | 7/12/2006 |  | 5.73 | % |  | — |  |  | 7,974 |  |  | 10/11/2012
Plumtree Medical Center (6) |  | 6/22/2006 |  | 5.68 | % |  | — |  |  | 4,419 |  |  | 12/11/2012
9707 Medical Center Drive (7) |  | 4/13/2006 |  | 5.32 | % |  | — |  |  | 4,780 |  |  | 11/1/2012
Frederick Crossing (8) |  | 3/23/2005 |  | 5.95 | % |  | — |  |  | 21,700 |  |  | 8/1/2012
Prosperity Medical Center (9) |  | 10/9/2003 |  | 5.36 | % |  | — |  |  | 31,169 |  |  | 11/30/2012
Prosperity Medical Center (9) |  | 10/9/2003 |  | 5.34 | % |  | — |  |  | 11,828 |  |  | 11/30/2012
|  |  |  |  |  | $ | 342,970 |  |  | $ | 427,710 |  |  |
(1) Each of these mortgages was assumed with the acquisition of the collateralized properties, except for the mortgage notes secured by 3801 Connecticut Avenue, Walker House, Bethesda Hill and Kenmore Apartments, which were originally executed by WRIT. We record mortgages assumed in an acquisition at fair value, and balances presented include any recorded premiums or discounts. (2) Yield on the assumption/issuance date, including the effects of any premiums, discounts or fair value adjustments on the notes. (3) Interest only is payable monthly until the maturity date upon which all unpaid principal and interest are payable in full. (4) Interest only is payable monthly until the maturity date, which can be extended for one year upon which the interest rate is reset on June 1, 2016. At maturity on June 1, 2017, all unpaid principal and interest are payable in full. (5) On October 11, 2012, we repaid without penalty the remaining $7.8 million of principal on the mortgage note secured by 15005 Shady Grove Road. (6) On December 11, 2012, we repaid without penalty the remaining $4.3 million of principal on the mortgage note secured by Plumtree Medical Center. Because Plumtree Medical Center was sold during 2012 (see Note 3 to the consolidated financial statements), the mortgage note is included in "Other liabilities related to properties sold or held for sale" on our consolidated balance sheets as of December 31, 2011. (7) On November 1, 2012, we repaid without penalty the remaining $4.6 million of principal on the mortgage note secured by 9707 Medical Center Drive. (8) On August 1, 2012, we repaid without penalty the remaining $21.3 million of principal on the mortgage note secured by Frederick Crossing. (9) On November 30, 2012, we repaid without penalty the remaining $42.1 million of principal on the mortgage notes secured by Prosperity Medical Centers. Except as noted above, principal and interest are payable monthly until the maturity date, upon which all unpaid principal and interest are payable in full. Total carrying amount of the above mortgaged properties was $510.0 million and $670.7 million at December 31, 2012 and 2011, respectively. In January 2013, we repaid without penalty the remaining $30.0 million of principal on the mortgage note secured by West Gude Drive. Scheduled principal payments subsequent to December 31, 2012 are as follows (in thousands):
2013 | $ | 33,313 |
2014 | 3,519 |
2015 | 22,174 |
2016 | 134,715 |
2017 | 104,712 |
Thereafter | 48,086 |
| 346,519 |
Net discounts/premiums | (3,549 | )
Total | $ | 342,970 |

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