Quarterly report pursuant to Section 13 or 15(d)

DEBT FINANCING (Tables)

v2.4.1.9
DEBT FINANCING (Tables)
3 Months Ended
Mar. 31, 2015
Debt Disclosure [Abstract]  
Schedule of debt
The Company's debt is summarized as follows (dollars in thousands):
 
Interest
 
March 31,
 
December 31,
 
Rate (1)
 
2015
 
2014
Credit Facility:
 
 
 
 
 
Revolving line of credit
2.78%
 
$
182,217

 
$
166,217

Term loan
3.65%
 
144,558

 
144,558

Unsecured term loan
5.18%
 
50,000

 
50,000

Related Party Note
3.30%
 
4,054

 

Fixed rate mortgages payable
4.07%
 
153,961

 
153,416

Variable rate mortgages payable
4.69%
 
83,500

 
83,500

Total
 
 
$
618,290

 
$
597,691


(1) 
Represents the effective interest rate as of March 31, 2015. Effective interest rate incorporates the stated rate plus the impact of interest rate swaps and discount and premium amortization, if applicable. For the revolving line of credit, the effective interest rate also includes fees for unused borrowings.