Debt (Tables)

12 Months Ended

Dec. 31, 2015

Summary of total secured notes payable outstanding

The following is a summary of the Operating Partnership's total secured notes payable outstanding as of December 31, 2015 and December 31, 2014 (in thousands):



Description of Debt	Principal Balance as of						Stated Interest Rate		Stated Maturity Date
Description of Debt	December 31, 2015			December 31, 2014			as of December 31, 2015		Stated Maturity Date
The Shops at Kalakaua ⁽¹⁾⁽²⁾	—			19,000			—	%	May 1, 2015
The Landmark at One Market ⁽¹⁾⁽³⁾	—			133,000			—	%	July 5, 2015
Del Monte Center ⁽¹⁾⁽⁴⁾	—			82,300			—	%	July 8, 2015
First & Main ⁽¹⁾	84,500			84,500			3.97	%	July 1, 2016
Imperial Beach Gardens ⁽¹⁾	20,000			20,000			6.16	%	September 1, 2016
Mariner’s Point ⁽¹⁾	7,700			7,700			6.09	%	September 1, 2016
South Bay Marketplace ⁽¹⁾	23,000			23,000			5.48	%	February 10, 2017
Waikiki Beach Walk—Retail ⁽¹⁾	130,310			130,310			5.39	%	July 1, 2017
Solana Beach Corporate Centre III-IV ⁽⁵⁾	35,920			36,376			6.39	%	August 1, 2017
Loma Palisades ⁽¹⁾	73,744			73,744			6.09	%	July 1, 2018
One Beach Street ⁽¹⁾	21,900			21,900			3.94	%	April 1, 2019
Torrey Reserve—North Court ⁽⁵⁾	20,749			21,075			7.22	%	June 1, 2019
Torrey Reserve—VCI, VCII, VCIII ⁽⁵⁾	6,995			7,101			6.36	%	June 1, 2020
Solana Beach Corporate Centre I-II ⁽⁵⁾	11,119			11,302			5.91	%	June 1, 2020
Solana Beach Towne Centre ⁽⁵⁾	37,065			37,675			5.91	%	June 1, 2020
City Center Bellevue ⁽¹⁾	111,000			111,000			3.98	%	November 1, 2022
Total	584,002			819,983
Unamortized fair value adjustment	(4,259		)	(7,172		)
Total Secured Notes Payable	$	579,743		$	812,811


(1)	Interest only.


(2)	Loan repaid in full, without premium or penalty, on February 2, 2015.


(3)	Loan repaid in full, without premium or penalty, on April 6, 2015.


(4)	Loan repaid in full, without premium or penalty, on February 6, 2015.


(5)	Principal payments based on a 30-year amortization schedule.

Scheduled principal payments on notes payable

Scheduled principal payments on secured and unsecured notes payable as of December 31, 2015 are as follows (in thousands):



2016	$	113,974
2017	190,139
2018	75,224
2019	142,662
2020	51,003
Thereafter	461,000
	$	1,034,002