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DEBT (Tables) | 6 Months Ended
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Jun. 30, 2015
DEBT |
Schedule of debt |
|  | June 30, 2015 |  | December 31, 2014 |
|  | (in thousands) |
Mortgage loan with a fixed interest rate of 7.66% per annum, with monthly payments of principal and interest. The loan has a 20-year amortization schedule with a $25,324,000 balance due on December 1, 2015. The loan is nonrecourse. |  | $ | 26,000 |  | $ | 26,783 |
Mortgage loan with a fixed interest rate of 4.50% per annum, with monthly payments of interest only for 10 years, and payments of interest and principal starting in February 2022. The loan has a $42,008,000 balance due on January 5, 2027. The loan is nonrecourse. |  |  | 46,000 |  |  | 46,000 |
Mortgage loan with a fixed interest rate of 5.56% per annum, with monthly payments of principal and interest. The loan had a 10-year amortization schedule with a $12,288,000 balance due on July 1, 2015. The loan was nonrecourse. The loan was paid in full in April 2015. |  |  | — |  |  | 12,442 |
Mortgage loan with a fixed interest rate of 6.65% per annum, with monthly payments of principal and interest. The loan has a 25-year amortization schedule with a $21,136,000 balance due on July 15, 2018. The loan is nonrecourse. |  |  | 30,656 |  |  | 32,070 |
Mortgage loan with a fixed interest rate of 5.06% per annum, with monthly payments of principal and interest, and a balance of $33,068,000 due on September 1, 2015. The loan is nonrecourse. |  |  | 33,290 |  |  | 33,734 |
Mortgage loans with a fixed interest rate of 5.39% per annum, with monthly payments of principal and interest, and a balance of $35,695,000 due on March 1, 2021. The loans are nonrecourse. |  |  | 40,188 |  |  | 40,526 |
Mortgage loan with a fixed interest rate of 5.18% per annum, with monthly payments of principal and interest, and a balance of $26,232,000 due on June 5, 2021. The loan is nonrecourse. |  |  | 30,021 |  |  | 30,292 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  |  | 206,155 |  |  | 221,847 |
Premiums and discounts on assumed mortgages |  |  | 1,547 |  |  | 1,961 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total Mortgages Payable |  |  | 207,702 |  |  | 223,808 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Junior subordinated notes with a variable interest rate which resets quarterly based on the 90-day LIBOR plus 3.25%, with quarterly interest only payments. Balance due at maturity on March 30, 2035. |  |  | 27,070 |  |  | 27,070 |
Unsecured credit facilities |  |  | 415,000 |  |  | 360,000 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  |  | 442,070 |  |  | 387,070 |
Discount on junior subordinated notes |  |  | (2,128 | ) |  | (2,164 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total Other |  |  | 439,942 |  |  | 384,906 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total Debt |  | $ | 647,644 |  | $ | 608,714 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Schedule of principal payments on, and estimated amortization of debt (face value) |
Years Ending December 31, |  | Mortgages Payable |  | Other(1) |  | Total |
|  | (in thousands) |
2015 (Six Months Ending December 31, 2015) |  | $ | 61,363 |  | $ | — |  | $ | 61,363 |
2016 |  |  | 4,354 |  |  | 415,000 |  |  | 419,354 |
2017 |  |  | 4,642 |  |  | — |  |  | 4,642 |
2018 |  |  | 24,300 |  |  | — |  |  | 24,300 |
2019 |  |  | 1,519 |  |  | — |  |  | 1,519 |
Thereafter |  |  | 109,977 |  |  | 27,070 |  |  | 137,047 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  | $ | 206,155 |  | $ | 442,070 |  | $ | 648,225 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(1) | Represents the junior subordinated notes and unsecured credit facility.

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