Quarterly report pursuant to Section 13 or 15(d)

DEBT FINANCING (Tables)

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DEBT FINANCING (Tables)
6 Months Ended
Jun. 30, 2015
Debt Disclosure [Abstract]  
Schedule of debt
The Company's outstanding debt as of June 30, 2015 and December 31, 2014 is summarized as follows (dollars in thousands):
 
Interest
 
June 30,
 
December 31,
 
Rate (1)
 
2015
 
2014
Credit Facility:
 
 
 
 
 
Revolving line of credit
1.79%
 
$
80,917

 
$
166,217

Term loan
2.75%
 
144,558

 
144,558

Unsecured term loan
 

 
50,000

Fixed rate mortgages payable
3.93%
 
182,341

 
153,416

Variable rate mortgages payable
 

 
83,500

Total
 
 
$
407,816

 
$
597,691


(1) 
Represents the effective interest rate as of June 30, 2015. Effective interest rate incorporates the stated rate plus the impact of interest rate cash flow hedges and discount and premium amortization, if applicable. For the revolving line of credit, the effective interest rate excludes fees for unused borrowings.