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Debt (Tables)

3 Months Ended

Mar. 31, 2018

Debt Disclosure [Abstract]

Components of Mortgage Debt

Mortgage and senior unsecured revolving credit facility debt consisted of the following (dollars in thousands):

Collateral	Interest Rate			Maturity Date		3/31/18 Property Carrying Value				Balance Outstanding on Loan as of
										March 31, 2018				December 31, 2017
Senior Unsecured Revolving Credit Facility (1)	3.80	%		March 8, 2022		$	—			$	34,000			$	32,000
Residence Inn by Marriott New Rochelle, NY	5.75	%		September 1, 2021		19,030				13,662				13,762
Residence Inn by Marriott San Diego, CA	4.66	%		February 6, 2023		46,511				28,321				28,469
Homewood Suites by Hilton San Antonio, TX	4.59	%		February 6, 2023		31,987				16,168				16,253
Residence Inn by Marriott Vienna, VA	4.49	%		February 6, 2023		30,125				22,132				22,251
Courtyard by Marriott Houston, TX	4.19	%		May 6, 2023		32,209				18,274				18,375
Hyatt Place Pittsburgh, PA	4.65	%		July 6, 2023		35,472				22,323				22,437
Residence Inn by Marriott Bellevue, WA	4.97	%		December 6, 2023		66,982				45,262				45,462
Residence Inn by Marriott Garden Grove, CA	4.79	%		April 6, 2024		38,208				33,022				33,160
Residence Inn by Marriott Silicon Valley I, CA	4.64	%		July 1, 2024		78,893				64,800				64,800
Residence Inn by Marriott Silicon Valley II, CA	4.64	%		July 1, 2024		86,144				70,700				70,700
Residence Inn by Marriott San Mateo, CA	4.64	%		July 1, 2024		62,486				48,600				48,600
Residence Inn by Marriott Mountain View, CA	4.64	%		July 6, 2024		55,768				37,900				37,900
SpringHill Suites by Marriott Savannah, GA	4.62	%		July 6, 2024		36,099				30,000				30,000
Hilton Garden Inn Marina del Rey, CA	4.68	%		July 6, 2024		41,642				21,657				21,760
Homewood Suites by Hilton Billerica, MA	4.32	%		December 6, 2024		13,133				16,159				16,225
Hampton Inn & Suites Houston Medical Center, TX	4.25	%		January 6, 2025		15,007				18,247				18,300
Total debt before unamortized debt issue costs						$	689,696			$	541,227			$	540,454
Unamortized mortgage debt issue costs										(2,048		)		(2,138		)
Total debt outstanding										$	539,179			$	538,316

(1) The interest rate for the senior unsecured revolving credit facility is variable and based on either LIBOR plus an applicable margin ranging from 1.55% to 2.3%, or prime plus an applicable margin of 0.55% to 1.3%.

Future Scheduled Principal Payments of Debt Obligations

Future scheduled principal payments of debt obligations as of March 31, 2018, for the current year and each of the next four calendar years and thereafter are as follows (in thousands):

	Amount
2018 (remaining nine months)	$	4,556
2019	6,992
2020	9,536
2021	21,883
2022	43,954
2023	142,036
Thereafter	312,270
Total debt before unamortized debt issue costs	$	541,227
Unamortized mortgage debt issue costs	(2,048		)
Total debt outstanding	$	539,179

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- Definition

Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601

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- Definition

Tabular disclosure of the terms and amounts of participation in loan arrangements.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 30
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=29639217&loc=d3e10013-112621

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