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Debt (Tables)

9 Months Ended

Sep. 30, 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		9/30/18 Property Carrying Value				Balance Outstanding on Loan as of
										September 30, 2018				December 31, 2017
Senior Unsecured Revolving Credit Facility (1)	4.15	%		March 8, 2022		$	—			$	30,000			$	32,000
Residence Inn by Marriott New Rochelle, NY	5.75	%		September 1, 2021		18,591				13,464				13,762
Residence Inn by Marriott San Diego, CA	4.66	%		February 6, 2023		46,280				28,034				28,469
Homewood Suites by Hilton San Antonio, TX	4.59	%		February 6, 2023		31,404				16,002				16,253
Residence Inn by Marriott Vienna, VA	4.49	%		February 6, 2023		30,552				21,902				22,251
Courtyard by Marriott Houston, TX	4.19	%		May 6, 2023		31,797				18,078				18,375
Hyatt Place Pittsburgh, PA	4.65	%		July 6, 2023		35,834				22,104				22,437
Residence Inn by Marriott Bellevue, WA	4.97	%		December 6, 2023		66,225				44,881				45,462
Residence Inn by Marriott Garden Grove, CA	4.79	%		April 6, 2024		37,614				32,758				33,160
Residence Inn by Marriott Silicon Valley I, CA	4.64	%		July 1, 2024		80,195				64,800				64,800
Residence Inn by Marriott Silicon Valley II, CA	4.64	%		July 1, 2024		84,794				70,700				70,700
Residence Inn by Marriott San Mateo, CA	4.64	%		July 1, 2024		61,519				48,600				48,600
Residence Inn by Marriott Mountain View, CA	4.64	%		July 6, 2024		56,269				37,900				37,900
SpringHill Suites by Marriott Savannah, GA	4.62	%		July 6, 2024		35,898				30,000				30,000
Hilton Garden Inn Marina del Rey, CA	4.68	%		July 6, 2024		40,929				21,459				21,760
Homewood Suites by Hilton Billerica, MA	4.32	%		December 6, 2024		15,006				16,031				16,225
Hampton Inn & Suites Houston Medical Center, TX	4.25	%		January 6, 2025		14,751				18,102				18,300
Total debt before unamortized debt issue costs						$	687,658			$	534,815			$	540,454
Unamortized mortgage debt issue costs										(1,865		)		(2,138		)
Total debt outstanding										$	532,950			$	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 September 30, 2018, for the current year and each of the next four calendar years and thereafter are as follows (in thousands):

	Amount
2018 (remaining three months)	$	1,402
2019	6,992
2020	9,536
2021	21,945
2022	39,954
2023	142,508
Thereafter	312,478
Total debt before unamortized debt issue costs	$	534,815
Unamortized mortgage debt issue costs	(1,865		)
Total debt outstanding	$	532,950

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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://fasb.org/us-gaap/role/ref/legacyRef
-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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Tabular disclosure of the terms and amounts of participation in loan arrangements.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 30
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=99377297&loc=d3e10013-112621

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