| Company's Mortgage Notes Payable and Line of Credit |
Our mortgage notes payable
and line of credit, or the Line of Credit, as of June 30, 2013
and December 31, 2012 are summarized below (dollars in
thousands):
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Principal Balance Outstanding |
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Date of
Issuance/
Assumption
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Principal
Maturity Date |
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Stated Interest
Rate at June 30, 2013 (1) |
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June 30,
2013 |
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December 31,
2012 |
|
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02/21/06
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12/01/13 |
|
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5.91 |
% |
|
$ |
8,560 |
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|
$ |
8,658 |
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02/21/06
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06/30/14 |
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5.20 |
% |
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17,712 |
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17,930 |
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08/25/05
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09/01/15 |
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5.33 |
% |
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19,886 |
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20,074 |
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09/12/05
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09/01/15 |
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5.21 |
% |
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11,716 |
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11,821 |
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09/06/07
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12/11/15 |
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5.81 |
% |
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4,100 |
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4,141 |
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12/21/05
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01/08/16 |
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5.71 |
% |
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17,999 |
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18,155 |
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03/29/06
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04/01/16 |
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5.92 |
% |
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16,560 |
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16,669 |
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04/27/06
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05/05/16 |
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6.58 |
% |
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12,905 |
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|
13,080 |
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08/29/08
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06/01/16 |
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6.80 |
% |
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5,785 |
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5,866 |
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06/20/11
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06/30/16 |
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6.08 |
% |
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11,253 |
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11,341 |
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11/22/06
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12/01/16 |
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5.76 |
% |
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13,450 |
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13,558 |
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12/22/06
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01/01/17 |
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5.79 |
% |
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20,568 |
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20,731 |
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02/08/07
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03/01/17 |
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6.00 |
% |
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13,775 |
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13,775 |
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06/05/07
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06/08/17 |
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6.11 |
% |
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14,081 |
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14,163 |
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10/15/07
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11/08/17 |
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6.63 |
% |
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14,960 |
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15,072 |
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09/26/12
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07/01/18 |
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5.75 |
% |
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10,602 |
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10,707 |
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11/18/11
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11/01/18 |
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4.50 |
% |
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4,206 |
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4,256 |
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12/06/11
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12/06/19 |
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6.00 |
% |
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8,151 |
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8,272 |
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10/28/11
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11/01/21 |
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6.00 |
% |
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7,003 |
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7,068 |
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04/05/12
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05/01/22 |
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6.10 |
% |
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18,658 |
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18,821 |
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06/21/12
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07/06/22 |
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5.05 |
% |
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4,664 |
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4,712 |
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08/03/12
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07/31/22 |
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5.00 |
% |
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2,948 |
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2,979 |
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07/24/12
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08/01/22 |
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5.60 |
% |
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9,524 |
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9,661 |
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10/01/12
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10/01/22 |
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4.86 |
% |
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33,539 |
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33,888 |
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11/21/12
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12/06/22 |
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4.04 |
% |
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18,782 |
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19,000 |
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03/28/13
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04/06/23 |
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4.16 |
% |
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3,686 |
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— |
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12/15/10
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12/10/26 |
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6.63 |
% |
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9,763 |
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9,983 |
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05/16/12
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12/31/26 |
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4.30 |
% |
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2,863 |
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2,897 |
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11/08/12
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02/01/27 |
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5.69 |
% |
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14,007 |
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|
14,145 |
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05/30/12
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05/10/27 |
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6.50 |
% |
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4,779 |
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|
4,883 |
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06/27/12
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07/01/29 |
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5.10 |
% |
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1,945 |
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1,984 |
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Contractual Fixed-Rate
Mortgage Notes Payable:
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$ |
358,430 |
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$ |
358,290 |
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Premiums and (Discounts),
net:
|
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|
|
|
|
|
810 |
|
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|
895 |
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Total Fixed-Rate Mortgage
Notes Payable:
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$ |
359,240 |
|
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$ |
359,185 |
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Variable-Rate Line of
Credit:
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12/28/10
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12/28/13 |
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LIBOR +2.75 |
% |
|
$ |
11,200 |
|
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$ |
25,000 |
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Total Mortgage Notes
Payable and Line of Credit
|
|
|
$ |
370,440 |
|
|
$ |
384,185 |
|
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| (1) |
The weighted average
interest rate on all debt outstanding at June 30, 2013, was
approximately 5.54%. |
|