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DEBT (Tables)
9 Months Ended
Sep. 30, 2013
Debt Disclosure [Abstract]  
Summary of total secured notes payable outstanding
The following is a summary of our total secured notes payable outstanding as of September 30, 2013 and December 31, 2012 (in thousands):
 
Principal Balance as of
 
Stated Interest
Rate as of
September 30, 2013
 
Stated Maturity Date
Description of Debt
September 30, 2013
 
December 31, 2012
 
Alamo Quarry Market (1)(2)
$
92,289

 
$
93,942

 
5.67
%
 
January 8, 2014
Waikele Center (3)
140,700

 
140,700

 
5.15
%
 
November 1, 2014
The Shops at Kalakaua (3)
19,000

 
19,000

 
5.45
%
 
May 1, 2015
The Landmark at One Market (3)(4)
133,000

 
133,000

 
5.61
%
 
July 5, 2015
Del Monte Center (3)
82,300

 
82,300

 
4.93
%
 
July 8, 2015
First & Main (3)
84,500

 
84,500

 
3.97
%
 
July 1, 2016
Imperial Beach Gardens (3)
20,000

 
20,000

 
6.16
%
 
September 1, 2016
Mariner’s Point (3)
7,700

 
7,700

 
6.09
%
 
September 1, 2016
South Bay Marketplace (3)
23,000

 
23,000

 
5.48
%
 
February 10, 2017
Waikiki Beach Walk—Retail (3)
130,310

 
130,310

 
5.39
%
 
July 1, 2017
Solana Beach Corporate Centre III-IV (5)
36,908

 
37,204

 
6.39
%
 
August 1, 2017
Loma Palisades (3)
73,744

 
73,744

 
6.09
%
 
July 1, 2018
One Beach Street (3)
21,900

 
21,900

 
3.94
%
 
April 1, 2019
Torrey Reserve—North Court (1)
21,450

 
21,659

 
7.22
%
 
June 1, 2019
Torrey Reserve—VCI, VCII, VCIII (1)
7,225

 
7,294

 
6.36
%
 
June 1, 2020
Solana Beach Corporate Centre I-II (1)
11,516

 
11,637

 
5.91
%
 
June 1, 2020
Solana Beach Towne Centre (1)
38,388

 
38,790

 
5.91
%
 
June 1, 2020
City Center Bellevue (3)
111,000

 
111,000

 
3.98
%
 
November 1, 2022
 
1,054,930

 
1,057,680

 
 
 
 
Unamortized fair value adjustment
(10,813
)
 
(12,998
)
 
 
 
 
Total Secured Notes Payable Outstanding
$
1,044,117

 
$
1,044,682

 
 
 
 
(1)
Principal payments based on a 30-year amortization schedule.
(2)
Loan was prepaid, without penalty or premium, on October 8, 2013 (see Note 17).
(3)
Interest only.
(4)
Maturity Date is the earlier of the loan maturity date under the loan agreement, or the “Anticipated Repayment Date” as specifically defined in the loan agreement, which is the date after which substantial economic penalties apply if the loan has not been paid off.
(5)
Loan was interest only through August 2012. Beginning in September 2012, principal payments are based on a 30-year amortization schedule.