MORTGAGES, NOTES AND LOANS PAYABLE (Tables)

9 Months Ended

Sep. 30, 2015

MORTGAGES, NOTES AND LOANS PAYABLE

Summary of mortgages, notes and loans payable

	September 30,		December 31,
	2015		2014
	(In thousands)
Fixed-rate debt:
Collateralized mortgages, notes and loans payable	$	1,022,251	$	1,008,165
Special Improvement District bonds		17,320		22,389
Variable-rate debt:
Collateralized mortgages, notes and loans payable (a)		1,282,725		962,916
Total mortgages, notes and loans payable	$	2,322,296	$	1,993,470

(a) As more fully described below, $210.4 million of variable‑rate debt has been swapped to a fixed rate for the term of the related debt.

Schedule of mortgages, notes and loans payable by property

					Maximum		Carrying Value
		Interest			Facility		September 30,		December 31,
$ In thousands	Maturity (a)	Rate			Amount		2015		2014
Master Planned Communities
Bridgeland Land Loan	June 2022	5.50	%				$	8,582	$	15,874
Bridgeland Development Loan	July 2016	5.00	%		$	30,000		19,600		10
Summerlin South SID Bonds - S108	December 2016	5.95	%					411		563
Summerlin South SID Bonds - S124	December 2019	5.95	%					177		236
Summerlin South SID Bonds - S128	December 2020	6.05	%					535		623
Summerlin South SID Bonds - S128C	December 2030	6.05	%					5,025		5,274
Summerlin South SID Bonds - S132	December 2020	6.00	%					1,826		2,936
Summerlin South SID Bonds - S151	June 2025	6.00	%					4,714		6,211
Summerlin West SID Bonds - S808/S810	April 2031	6.00	%					1,047		2,805
The Woodlands Master Credit Facility	August 2018	2.95	%	(b)(c)		200,000		192,663		176,663
Master Planned Communities Total								234,580		211,195
Operating Assets
10-60 Columbia Corporate Center	May 2022	2.68	%	(c)(d)				80,000		—
70 Columbia Corporate Center	July 2019	2.45	%	(c)				20,000		20,000
Columbia Regional Building	March 2018	2.20	%	(c)		23,008		22,188		20,513
Downtown Summerlin	July 2019	2.45	%	(c)		311,800		277,944		229,153
Downtown Summerlin SID Bonds - S108	December 2016	5.95	%					235		310
Downtown Summerlin SID Bonds - S128	December 2030	6.05	%					3,350		3,431
One Hughes Landing	December 2029	4.30	%					52,000		52,000
Two Hughes Landing	September 2018	2.85	%	(c)		41,230		33,205		19,992
Hughes Landing Retail	December 2018	2.15	%	(c)		36,575		25,373		17,424
1701 Lake Robbins	April 2017	5.81	%					4,600		4,600
Millennium Waterway Apartments	June 2022	3.75	%					55,584		55,584
110 N. Wacker	October 2019	5.21	%	(e)				27,426		29,000
9303 New Trails	December 2023	4.88	%					12,821		13,074
One Lake's Edge	November 2018	2.70	%	(c)		73,525		65,548		40,787
Outlet Collection at Riverwalk	October 2018	2.95	%	(c)		64,400		55,454		47,118
3831 Technology Forest Drive	March 2026	4.50	%					22,851		—
The Woodlands Resort & Conference Center	February 2019	3.70	%	(c)		95,000		83,336		76,027
Ward Village	September 2016	3.36	%	(c)(f)		250,000		238,716		238,716
20/25 Waterway Avenue	May 2022	4.79	%					14,168		14,330
3 Waterway Square	August 2028	3.94	%					52,000		52,000
4 Waterway Square	December 2023	4.88	%					37,547		38,289
Capital lease obligations	Various	3.60	%					57		135
Operating Assets Total								1,184,403		972,483
Strategic Developments
1725-35 Hughes Landing Boulevard	June 2019	2.10	%	(c)		143,000		81,719		47,513
Lakeland Village Center	May 2020	2.55	%	(c)		14,000		—		—
Three Hughes Landing	December 2019	2.55	%	(c)		65,455		14,046		—
Hughes Landing Hotel	October 2020	2.70	%	(c)		37,100		10,973		—
Waiea and Anaha Condominiums	November 2019	6.95	%	(c)		600,000		10,334		—
Waterway Square Hotel	August 2019	2.85	%	(c)		69,300		24,200		—
Strategic Developments Total								141,272		47,513
Other Corporate Financing Arrangements	June 2018	3.00	%					19,045		19,968
Senior Notes	October 2021	6.88	%					750,000		750,000
Unamortized underwriting fees								(7,004)		(7,689)
							$	2,322,296	$	1,993,470

(a) Maturity date includes any extension periods that can be exercised at our option and are subject to customary extension terms.

(b) The Woodlands Credit Facility was amended and restated on July 31, 2015.

(c) The interest rate presented is based on the one month LIBOR rate, as applicable, which was 0.20% at September 30, 2015.

(d) $40.0 million of the outstanding principal balance is swapped to a 3.41% fixed rate maturity.

(e) The $27.4 million outstanding principal balance is swapped to a 5.21% fixed rate through maturity.

(f) $143.0 million of the outstanding principal balance is swapped to a 3.81% fixed rate maturity. As of September 30, 2015 there is no undrawn availability on this facility.