Borrowings (Tables)

12 Months Ended

Dec. 31, 2015

Weighted Average Maturities and Interest Rates of Borrowings

At December 31, 2015 and 2014, the Company’s borrowings had the following debt balances, weighted average maturities and interest rates:



	December 31, 2015						December 31, 2014
	Debt Balance		Weighted Average Remaining Maturity		Weighted Average Rate		Debt Balance		Weighted Average Remaining Maturity	Weighted Average Rate
Wells Facility borrowings	$	—	0		—	%	$	20,166	0.2 years	1.0	%	**
UBS Facility borrowings	133,899		2.7 years	*	2.8	%	133,899		3.7 years	2.8	%	Fixed
DB Facility borrowings	300,005		2.3 years		3.7	%	300,005		3.3 years	3.7	%	***
JPMorgan Facility borrowings	445,942		3.1 years		2.6	%	168,124		0.1 years	2.7	%	L+225-475
Goldman Loan	45,928		3.3 years		3.8	%	—		0	—	%	L+350
Total borrowings	$	925,774	2.7 years		2.9	%	$	622,194	3.2 years	3.2	%


*	Assumes extension options are exercised.

** At December 31, 2014, borrowings outstanding under the Wells Facility bore interest at LIBOR plus 80 basis points.

*** Advances under the DB Facility accrue interest at a per annum pricing rate based on the rate implied by the fixed rate bid under a fixed for floating interest rate swap for the receipt of payments indexed to three-month U.S. dollar LIBOR, plus a financing spread ranging from 1.80% to 2.32% based on the rating of the collateral pledged.

Remaining Maturities of Borrowings

At December 31, 2015, the Company’s borrowings had the following remaining maturities:



	Less than 1 year		1 to 3 years		3 to 5 years		More than 5 years		Total
UBS Facility borrowings *	$	5,004	$	128,895	$	—	$	—	$	133,899
DB Facility borrowings	74,251		225,754		—		—		300,005
JPMorgan Facility borrowings *	62,454		122,081		261,407		—		445,942
Goldman Loan	3,848		10,580		31,500		—		45,928
Total	$	145,557	$	487,310	$	292,907	$	—	$	925,774


*	Assumes extension options are exercised.

Schedule of Outstanding, Maximum and Average Balances of Debt

The table below summarizes the outstanding balances, as well as the maximum and average balances as of December 31, 2015 and 2014.



			2015						2014
	Balance at December 31, 2015		Maximum Month-End Balance		Average Month-End Balance		Balance at December 31, 2014		Maximum Month-End Balance		Average Month-End Balance
Wells Facility borrowings	$	—	$	22,254	$	3,263	$	20,166	$	47,751	$	28,921
UBS Facility borrowings	133,899		133,899		133,899		133,899		133,899		133,899
DB Facility borrowings	300,005		300,005		300,005		$	300,005	$	300,005	$	145,856
JPMorgan Facility borrowings	445,942		445,942		261,261		$	168,124	$	169,066	$	105,366
Goldman Loan	45,928		52,524		45,665		$	—	$	—	$	—
Total	$	925,774					$	622,194