| Company's mortgage notes payable and line of credit |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Date of
Issuance/
Assumption
|
|
Principal
Maturity Date |
|
|
Stated Interest Rate at
December 31, 2012 (1) |
|
|
Principal Balance Outstanding |
|
| |
|
|
December 31, 2012 |
|
|
December 31, 2011 |
|
|
02/21/06
|
|
|
12/01/13 |
|
|
|
5.91 |
% |
|
$ |
8,658 |
|
|
$ |
8,845 |
|
|
02/21/06
|
|
|
06/30/14 |
|
|
|
5.20 |
% |
|
|
17,930 |
|
|
|
18,345 |
|
|
08/25/05
|
|
|
09/01/15 |
|
|
|
5.33 |
% |
|
|
20,074 |
|
|
|
20,431 |
|
|
09/12/05
|
|
|
09/01/15 |
|
|
|
5.21 |
% |
|
|
11,821 |
|
|
|
12,019 |
|
|
09/06/07
|
|
|
12/11/15 |
|
|
|
5.81 |
% |
|
|
4,141 |
|
|
|
4,219 |
|
|
12/21/05
|
|
|
01/08/16 |
|
|
|
5.71 |
% |
|
|
18,155 |
|
|
|
18,448 |
|
|
03/29/06
|
|
|
04/01/16 |
|
|
|
5.92 |
% |
|
|
16,669 |
|
|
|
16,871 |
|
|
04/27/06
|
|
|
05/05/16 |
|
|
|
6.58 |
% |
|
|
13,080 |
|
|
|
13,409 |
|
|
08/29/08
|
|
|
06/01/16 |
|
|
|
6.80 |
% |
|
|
5,866 |
|
|
|
6,019 |
|
|
06/20/11
|
|
|
06/30/16 |
|
|
|
6.08 |
% |
|
|
11,341 |
|
|
|
11,505 |
|
|
11/22/06
|
|
|
12/01/16 |
|
|
|
5.76 |
% |
|
|
13,558 |
|
|
|
13,761 |
|
|
12/22/06
|
|
|
01/01/17 |
|
|
|
5.79 |
% |
|
|
20,731 |
|
|
|
21,037 |
|
|
02/08/07
|
|
|
03/01/17 |
|
|
|
6.00 |
% |
|
|
13,775 |
|
|
|
13,775 |
|
|
06/05/07
|
|
|
06/08/17 |
|
|
|
6.11 |
% |
|
|
14,163 |
|
|
|
14,240 |
|
|
10/15/07
|
|
|
11/08/17 |
|
|
|
6.63 |
% |
|
|
15,072 |
|
|
|
15,278 |
|
|
09/26/12
|
|
|
07/01/18 |
|
|
|
5.75 |
% |
|
|
10,707 |
|
|
|
— |
|
|
11/18/11
|
|
|
11/01/18 |
|
|
|
4.50 |
% |
|
|
4,256 |
|
|
|
4,352 |
|
|
12/06/11
|
|
|
12/06/19 |
|
|
|
6.00 |
% |
|
|
8,272 |
|
|
|
8,500 |
|
|
10/28/11
|
|
|
11/01/21 |
|
|
|
6.00 |
% |
|
|
7,068 |
|
|
|
7,190 |
|
|
04/05/12
|
|
|
05/01/22 |
|
|
|
6.10 |
% |
|
|
18,821 |
|
|
|
— |
|
|
06/21/12
|
|
|
07/06/22 |
|
|
|
5.05 |
% |
|
|
4,712 |
|
|
|
— |
|
|
08/03/12
|
|
|
07/31/22 |
|
|
|
5.00 |
% |
|
|
2,979 |
|
|
|
— |
|
|
07/24/12
|
|
|
08/01/22 |
|
|
|
5.60 |
% |
|
|
9,661 |
|
|
|
— |
|
|
10/01/12
|
|
|
10/01/22 |
|
|
|
4.86 |
% |
|
|
33,888 |
|
|
|
— |
|
|
11/21/12
|
|
|
12/06/22 |
|
|
|
4.04 |
% |
|
|
19,000 |
|
|
|
— |
|
|
12/15/10
|
|
|
12/10/26 |
|
|
|
6.63 |
% |
|
|
9,983 |
|
|
|
10,402 |
|
|
05/16/12
|
|
|
12/31/26 |
|
|
|
4.30 |
% |
|
|
2,897 |
|
|
|
— |
|
|
11/08/12
|
|
|
02/01/27 |
|
|
|
5.69 |
% |
|
|
14,145 |
|
|
|
— |
|
|
05/30/12
|
|
|
05/10/27 |
|
|
|
6.50 |
% |
|
|
4,883 |
|
|
|
— |
|
|
06/27/12
|
|
|
07/01/29 |
|
|
|
5.10 |
% |
|
|
1,984 |
|
|
|
— |
|
|
09/15/08
|
|
|
10/01/12 |
|
|
|
4.76 |
% |
|
|
— |
|
|
|
45,233 |
|
|
03/16/05
|
|
|
04/01/30 |
|
|
|
6.33 |
% |
|
|
— |
|
|
|
2,314 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contractual Fixed-Rate Mortgage Notes Payable:
|
|
|
|
|
|
|
|
|
|
$ |
358,290 |
|
|
$ |
286,193 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Premiums and (Discounts), net:
|
|
|
|
|
|
|
|
|
|
|
895 |
|
|
|
(843 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Fixed-Rate Mortgage Notes Payable:
|
|
|
|
|
|
|
|
|
|
$ |
359,185 |
|
|
$ |
285,350 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Variable-Rate Line of Credit:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12/28/10
|
|
|
12/28/13 |
|
|
|
LIBOR +2.75 |
% |
|
$ |
25,000 |
|
|
$ |
18,700 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Mortgage Notes Payable and Line of Credit
|
|
|
$ |
384,185 |
|
|
$ |
304,050 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (1) |
The weighted average interest rate on all debt outstanding at December 31, 2012, was approximately 5.46%. |
|
| Schedule of long term mortgages |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Date of Issuance/ Assumption
|
|
Issuing Bank
|
|
Borrowings |
|
|
Interest Rate |
|
|
Maturity Date |
|
|
4/5/2012
|
|
KeyBank National
Association
|
|
$ |
19,000 |
|
|
|
6.10 |
% |
|
|
5/1/2022 |
|
|
5/16/2012
|
|
City National Bank |
|
|
2,940 |
|
|
|
4.30 |
% |
|
|
12/31/2026 |
|
|
5/30/2012
|
|
Modern Woodman
of America |
|
|
5,000 |
|
|
|
6.50 |
% |
|
|
5/10/2027 |
|
|
6/21/2012
|
|
Citigroup |
|
|
4,750 |
|
|
|
5.05 |
% |
|
|
7/6/2022 |
|
|
6/27/2012
|
|
American Equity
Investment Life Co. |
|
|
2,000 |
|
|
|
5.10 |
% |
|
|
7/1/2029 |
|
|
7/24/2012
|
|
American National
Insurance Co. |
|
|
9,750 |
|
|
|
5.60 |
% |
|
|
8/1/2022 |
|
|
8/3/2012
|
|
Farmers Citizens Bank |
|
|
3,000 |
|
|
|
5.00 |
% |
|
|
7/31/2022 |
|
|
9/26/2012
|
|
Midland National
Investment Life Co. |
|
|
10,758 |
|
|
|
5.75 |
% |
|
|
7/1/2018 |
|
|
10/1/2012
|
|
KeyBank National Association |
|
|
34,000 |
|
|
|
4.86 |
% |
|
|
10/1/2022 |
|
|
11/8/2012
|
|
American United
Life Insurance Co |
|
|
14,168 |
|
|
|
5.69 |
% |
|
|
2/1/2027 |
|
|
11/21/2012
|
|
Cantor Commercial
Real Estate |
|
|
19,000 |
|
|
|
4.04 |
% |
|
|
12/6/2022 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
$124,366 |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|