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Mortgage Notes Payable, Revolving Credit Facility, Interest Expense and Amortization of Deferred Debt Costs - Summary of Notes Payable (Detail) - USD ($)
$ in Thousands
12 Months Ended
Feb. 27, 2013
Dec. 31, 2016
Dec. 31, 2015
Notes Payable [Line Items]      
Fixed rate mortgages   $ 783,400 $ 796,169
Interest rate   4.25% 3.75%
Scheduled maturity period [1]   8 years 1 day  
Total notes payable   $ 907,774 $ 875,242
Interest rate during period [1]   5.25%  
Fixed rate mortgage notes payable      
Notes Payable [Line Items]      
Fixed rate mortgages   $ 844,292 832,441
Interest rate [1]   5.48%  
Scheduled maturity period [1]   8 years 6 months 1 day  
Fixed rate mortgage notes payable | 6.01% due February 2018      
Notes Payable [Line Items]      
Fixed rate mortgages   $ 29,428 [2] 30,778
Interest rate [1]   6.01%  
Fixed rate mortgage notes payable | 5.88% due January 2019      
Notes Payable [Line Items]      
Fixed rate mortgages   $ 32,036 [3] 33,766
Interest rate [1]   5.88%  
Fixed rate mortgage notes payable | 5.76% due May 2019      
Notes Payable [Line Items]      
Fixed rate mortgages   $ 10,372 [4] 10,928
Interest rate [1]   5.76%  
Fixed rate mortgage notes payable | 5.62% due July 2019      
Notes Payable [Line Items]      
Fixed rate mortgages   $ 14,335 [5] 15,098
Interest rate [1]   5.62%  
Fixed rate mortgage notes payable | 5.79% due September 2019      
Notes Payable [Line Items]      
Fixed rate mortgages   $ 14,325 [6] 15,064
Interest rate [1]   5.79%  
Fixed rate mortgage notes payable | 5.22% due January 2020      
Notes Payable [Line Items]      
Fixed rate mortgages   $ 12,725 [7] 13,387
Interest rate [1]   5.22%  
Fixed rate mortgage notes payable | 5.60% due May 2020      
Notes Payable [Line Items]      
Fixed rate mortgages   $ 10,277 [8] 10,587
Interest rate [1]   5.60%  
Fixed rate mortgage notes payable | 5.30% due June 2020      
Notes Payable [Line Items]      
Fixed rate mortgages   $ 8,697 [9] 9,127
Interest rate [1]   5.30%  
Fixed rate mortgage notes payable | 5.83% due July 2020      
Notes Payable [Line Items]      
Fixed rate mortgages   $ 39,213 [10] 40,360
Interest rate [1]   5.83%  
Fixed rate mortgage notes payable | 5.81% due February 2021      
Notes Payable [Line Items]      
Fixed rate mortgages   $ 7,685 [11] 8,025
Interest rate [1]   5.81%  
Fixed rate mortgage notes payable | 6.01% due August 2021      
Notes Payable [Line Items]      
Fixed rate mortgages   $ 5,808 [12] 5,959
Interest rate [1]   6.01%  
Fixed rate mortgage notes payable | 5.62% due June 2022      
Notes Payable [Line Items]      
Fixed rate mortgages   $ 33,571 [13] 34,420
Interest rate [1]   5.62%  
Fixed rate mortgage notes payable | 6.08% due September 2022      
Notes Payable [Line Items]      
Fixed rate mortgages   $ 10,253 [14] 10,492
Interest rate [1]   6.08%  
Fixed rate mortgage notes payable | 6.43% due April 2023      
Notes Payable [Line Items]      
Fixed rate mortgages   $ 11,129 [15] 11,365
Interest rate [1]   6.43%  
Fixed rate mortgage notes payable | 6.28% due February 2024      
Notes Payable [Line Items]      
Fixed rate mortgages   $ 13,401 [16] 14,177
Interest rate [1]   6.28%  
Fixed rate mortgage notes payable | 7.35% due June 2024      
Notes Payable [Line Items]      
Fixed rate mortgages   $ 15,917 [17] 16,348
Interest rate [1]   7.35%  
Fixed rate mortgage notes payable | 7.60% due June 2024      
Notes Payable [Line Items]      
Fixed rate mortgages   $ 13,832 [18] 14,197
Interest rate [1]   7.60%  
Fixed rate mortgage notes payable | 7.02% due July 2024      
Notes Payable [Line Items]      
Fixed rate mortgages   $ 24,504 [19] 25,088
Interest rate [1]   7.02%  
Fixed rate mortgage notes payable | 7.45% due July 2024      
Notes Payable [Line Items]      
Fixed rate mortgages   $ 28,945 [20] 29,714
Interest rate [1]   7.45%  
Fixed rate mortgage notes payable | 7.30% due January 2025      
Notes Payable [Line Items]      
Fixed rate mortgages   $ 28,822 [21] 29,564
Interest rate [1]   7.30%  
Fixed rate mortgage notes payable | 6.18% due January 2026      
Notes Payable [Line Items]      
Fixed rate mortgages   $ 14,961 [22] 15,360
Interest rate [1]   6.18%  
Fixed rate mortgage notes payable | 5.31% due April 2026      
Notes Payable [Line Items]      
Fixed rate mortgages   $ 109,144 [23] 112,299
Interest rate [1]   5.31%  
Fixed rate mortgage notes payable | 4.30% due October 2026      
Notes Payable [Line Items]      
Fixed rate mortgages   $ 33,097 [24] 34,133
Interest rate [1]   4.30%  
Fixed rate mortgage notes payable | 4.53% due November 2026      
Notes Payable [Line Items]      
Fixed rate mortgages   $ 37,701 [25] 38,842
Interest rate [1]   4.53%  
Fixed rate mortgage notes payable | 4.70% due December 2026      
Notes Payable [Line Items]      
Fixed rate mortgages   $ 17,630 [26] 18,150
Interest rate [1]   4.70%  
Fixed rate mortgage notes payable | 5.84% due May 2027      
Notes Payable [Line Items]      
Fixed rate mortgages   $ 66,210 [27] 67,850
Interest rate [1]   5.84%  
Fixed rate mortgage notes payable | 4.04% due April 2028      
Notes Payable [Line Items]      
Fixed rate mortgages   $ 16,352 [28] 16,826
Interest rate [1]   4.04%  
Fixed rate mortgage notes payable | 3.51% due June 2028      
Notes Payable [Line Items]      
Fixed rate mortgages   $ 41,753 [29] 31,844
Interest rate [1]   3.51%  
Fixed rate mortgage notes payable | 3.99% due September 2028      
Notes Payable [Line Items]      
Fixed rate mortgages   $ 16,543 [30] 17,011
Interest rate [1]   3.99%  
Fixed rate mortgage notes payable | 3.69% Due March 2030      
Notes Payable [Line Items]      
Fixed rate mortgages   $ 28,679 [31] 29,444
Interest rate [1]   3.69%  
Fixed rate mortgage notes payable | 3.99% Due April 2030      
Notes Payable [Line Items]      
Fixed rate mortgages   $ 15,357 [32] 15,748
Interest rate [1]   3.99%  
Fixed rate mortgage notes payable | 4.88% due September 2032      
Notes Payable [Line Items]      
Fixed rate mortgages   $ 70,144 [33] 45,208
Interest rate [1]   4.88%  
Fixed rate mortgage notes payable | 8.00% due April 2034      
Notes Payable [Line Items]      
Fixed rate mortgages   $ 11,446 [34] 11,282
Interest rate [1]   8.00%  
Variable rate loans payable      
Notes Payable [Line Items]      
Variable rate debt   $ 63,482 42,801
Interest rate spread on LIBOR [1]   2.22%  
Scheduled maturity period [1]   1 year 4 months 3 days  
Variable rate loans payable | Revolving credit facility      
Notes Payable [Line Items]      
Variable rate debt   $ 49,000 [35] 28,000
Interest rate spread on LIBOR [1]   1.45%  
Variable rate loans payable | Metro Pike Center Bank Loan      
Notes Payable [Line Items]      
Variable rate debt   $ 14,482 [36] $ 14,801
Interest rate spread on LIBOR [1]   1.65%  
Northrock      
Notes Payable [Line Items]      
Interest rate spread on LIBOR 1.65%    
[1] Interest rate and scheduled maturity data presented as of December 31, 2016. Totals computed using weighted averages. Amounts shown are principal amounts and have not been reduced by any deferred debt issuance costs.
[2] The loan is collateralized by Washington Square and requires equal monthly principal and interest payments of $264,000 based upon a 27.5-year amortization schedule and a final payment of $28.0 million at loan maturity. Principal of $1.4 million was amortized during 2016.
[3] The loan is collateralized by three shopping centers, Broadlands Village, The Glen and Kentlands Square I, and requires equal monthly principal and interest payments of $306,000 based upon a 25-year amortization schedule and a final payment of $28.4 million at loan maturity. Principal of $1.7 million was amortized during 2016.
[4] The loan is collateralized by Olde Forte Village and requires equal monthly principal and interest payments of $98,000 based upon a 25-year amortization schedule and a final payment of $9.0 million at loan maturity. Principal of $556,000 was amortized during 2016.
[5] The loan is collateralized by Countryside and requires equal monthly principal and interest payments of $133,000 based upon a 25-year amortization schedule and a final payment of $12.3 million at loan maturity. Principal of $763,000 was amortized during 2016.
[6] The loan is collateralized by Briggs Chaney MarketPlace and requires equal monthly principal and interest payments of $133,000 based upon a 25-year amortization schedule and a final payment of $12.2 million at loan maturity. Principal of $739,000 was amortized during 2016.
[7] The loan is collateralized by Shops at Monocacy and requires equal monthly principal and interest payments of $112,000 based upon a 25-year amortization schedule and a final payment of $10.6 million at loan maturity. Principal of $662,000 was amortized during 2016.
[8] The loan is collateralized by Boca Valley Plaza and requires equal monthly principal and interest payments of $75,000 based upon a 30-year amortization schedule and a final payment of $9.1 million at loan maturity. Principal of $310,000 was amortized during 2016.
[9] The loan is collateralized by Palm Springs Center and requires equal monthly principal and interest payments of $75,000 based upon a 25-year amortization schedule and a final payment of $7.1 million at loan maturity. Principal of $430,000 was amortized during 2016.
[10] The loan and a corresponding interest-rate swap closed on June 29, 2010 and are collateralized by Thruway. On a combined basis, the loan and the interest-rate swap require equal monthly principal and interest payments of $289,000 based upon a 25-year amortization schedule and a final payment of $34.8 million at loan maturity. Principal of $1,147,000 was amortized during 2016.
[11] The loan is collateralized by Jamestown Place and requires equal monthly principal and interest payments of $66,000 based upon a 25-year amortization schedule and a final payment of $6.1 million at loan maturity. Principal of $340,000 was amortized during 2016.
[12] The loan is collateralized by Hunt Club Corners and requires equal monthly principal and interest payments of $42,000 based upon a 30-year amortization schedule and a final payment of $5.0 million, at loan maturity. Principal of $151,000 was amortized during 2016.
[13] The loan is collateralized by Lansdowne Town Center and requires monthly principal and interest payments of $230,000 based on a 30-year amortization schedule and a final payment of $28.2 million at loan maturity. Principal of $849,000 was amortized during 2016.
[14] The loan is collateralized by Orchard Park and requires equal monthly principal and interest payments of $73,000 based upon a 30-year amortization schedule and a final payment of $8.6 million at loan maturity. Principal of $239,000 was amortized during 2016.
[15] The loan is collateralized by BJ’s Wholesale and requires equal monthly principal and interest payments of $80,000 based upon a 30-year amortization schedule and a final payment of $9.3 million at loan maturity. Principal of $236,000 was amortized during 2016.
[16] The loan is collateralized by Great Falls shopping center. The loan consists of three notes which require equal monthly principal and interest payments of $138,000 based upon a weighted average 26-year amortization schedule and a final payment of $6.3 million at maturity. Principal of $776,000 was amortized during 2016.
[17] The loan is collateralized by Leesburg Pike and requires equal monthly principal and interest payments of $135,000 based upon a 25-year amortization schedule and a final payment of $11.5 million at loan maturity. Principal of $431,000 was amortized during 2016.
[18] The loan is collateralized by Village Center and requires equal monthly principal and interest payments of $119,000 based upon a 25-year amortization schedule and a final payment of $10.1 million at loan maturity. Principal of $365,000 was amortized during 2016.
[19] The loan is collateralized by White Oak and requires equal monthly principal and interest payments of $193,000 based upon a 24.4 year weighted amortization schedule and a final payment of $18.5 million at loan maturity. The loan was previously collateralized by Van Ness Square. During 2012, the Company substituted White Oak as the collateral and borrowed an additional $10.5 million. Principal of $584,000 was amortized during 2016.
[20] The loan is collateralized by Avenel Business Park and requires equal monthly principal and interest payments of $246,000 based upon a 25-year amortization schedule and a final payment of $20.9 million at loan maturity. Principal of $769,000 was amortized during 2016.
[21] The loan is collateralized by Ashburn Village and requires equal monthly principal and interest payments of $240,000 based upon a 25-year amortization schedule and a final payment of $20.5 million at loan maturity. Principal of $742,000 was amortized during 2016.
[22] The loan is collateralized by Ravenwood and requires equal monthly principal and interest payments of $111,000 based upon a 25-year amortization schedule and a final payment of $10.1 million at loan maturity. Principal of $399,000 was amortized during 2016.
[23] The loan is collateralized by Clarendon Center and requires equal monthly principal and interest payments of $753,000 based upon a 25-year amortization schedule and a final payment of $70.5 million at loan maturity. Principal of $3.2 million was amortized during 2016.
[24] The loan is collateralized by Severna Park MarketPlace and requires equal monthly principal and interest payments of $207,000 based upon a 25-year amortization schedule and a final payment of $20.3 million at loan maturity. Principal of $1,036,000 was amortized during 2016.
[25] The loan is collateralized by Kentlands Square II and requires equal monthly principal and interest payments of $240,000 based upon a 25-year amortization schedule and a final payment of $23.1 million at loan maturity. Principal of $1,141,000 was amortized during 2016.
[26] The loan is collateralized by Cranberry Square and requires equal monthly principal and interest payments of $113,000 based upon a 25-year amortization schedule and a final payment of $10.9 million at loan maturity. Principal of $520,000 was amortized during 2016.
[27] The loan in the original amount of $73.0 million closed in May 2012, is collateralized by Seven Corners and requires equal monthly principal and interest payments of $463,200 based upon a 25-year amortization schedule and a final payment of $42.3 million at loan maturity. Principal of $1.6 million was amortized during 2016.
[28] The loan is collateralized by Hampshire Langley and requires equal monthly principal and interest payments of $95,400 based upon a 25 -year amortization schedule and a final payment of $9.5 million at loan maturity. Principal of $474,000 was amortized in 2016.
[29] The loan is collateralized by Beacon Center and requires equal monthly principal and interest payments of $268,500 based upon a 20-year amortization schedule and a final payment of $17.1 million at loan maturity. Principal of $1.3 million was amortized in 2016.
[30] The loan is collateralized by Seabreeze Plaza and requires equal monthly principal and interest payments of $94,900 based upon a 25-year amortization schedule and a final payment of $9.5 million at loan maturity. Principal of $468,000 was amortized in 2016.
[31] The loan is collateralized by Shops at Fairfax and Boulevard shopping centers and requires equal monthly principal and interest payments totaling $153,300 based upon a 25-year amortization schedule and a final payment of $15.5 million at maturity. Principal of $765,000 was amortized in 2016.
[32] The loan is collateralized by Northrock and requires equal monthly principal and interest payments totaling $84,400 based upon a 25-year amortization schedule and a final payment of $8.4 million at maturity. Principal of $391,000 was amortized in 2016.
[33] The loan is a $71.6 million construction-to-permanent facility that is collateralized by and will finance a portion of the construction costs of Park Van Ness. During the construction period, interest will be funded by the loan. After conversion to a permanent loan, monthly principal and interest payments totaling $413,500 will be required based upon a 25-year amortization schedule. A final payment of $39.6 million will be due at maturity.
[34] The Company entered into a sale-leaseback transaction with its Olney property and is accounting for that transaction as a secured financing. The arrangement requires monthly payments of $60,400 which increase by 1.5% on May 1, 2015, and every May 1 thereafter. The arrangement provides for a final payment of $14.7 million and has an implicit interest rate of 8.0%. Negative amortization in 2016 totaled $164,000
[35] The loan is a $275.0 million unsecured revolving credit facility. Interest accrues at a rate equal to the sum of one-month LIBOR plus a spread of 145 basis points. The line may be extended at the Company’s option for one year with payment of a fee of 0.15%. Monthly payments, if required, are interest only and vary depending upon the amount outstanding and the applicable interest rate for any given month.
[36] The loan is collateralized by Metro Pike Center and requires monthly principal and interest payments of approximately $48,000 and a final payment of $14.2 million at loan maturity. Principal of $319,000 was amortized during 2016.