Debt (Tables)

12 Months Ended

Dec. 31, 2016

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, 2016 and December 31, 2015 (in thousands):



Description of Debt	Principal Balance as of						Stated Interest Rate		Stated Maturity Date
Description of Debt	December 31, 2016			December 31, 2015			as of December 31, 2016		Stated Maturity Date
First & Main ⁽¹⁾⁽²⁾	—			84,500			N/A		July 1, 2016
Imperial Beach Gardens ⁽¹⁾⁽³⁾	—			20,000			N/A		September 1, 2016
Mariner’s Point ⁽¹⁾⁽³⁾	—			7,700			N/A		September 1, 2016
South Bay Marketplace ⁽¹⁾⁽⁴⁾	—			23,000			N/A		February 10, 2017
Waikiki Beach Walk—Retail ⁽¹⁾	130,310			130,310			5.39	%	July 1, 2017
Solana Beach Corporate Centre III-IV ⁽⁵⁾	35,440			35,920			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⁾	20,399			20,749			7.22	%	June 1, 2019
Torrey Reserve—VCI, VCII, VCIII ⁽⁵⁾	6,884			6,995			6.36	%	June 1, 2020
Solana Beach Corporate Centre I-II ⁽⁵⁾	10,927			11,119			5.91	%	June 1, 2020
Solana Beach Towne Centre ⁽⁵⁾	36,424			37,065			5.91	%	June 1, 2020
City Center Bellevue ⁽¹⁾	111,000			111,000			3.98	%	November 1, 2022
	447,028			584,002
Unamortized fair value adjustment	(1,347		)	(4,259		)
Debt issuance costs, net of accumulated amortization of $1,029 and $1,649, respectively	(501		)	(743		)
Total Secured Notes Payable	$	445,180		$	579,000


(1)	Interest only.


(2)	Loan repaid in full, without premium or penalty, on March 1, 2016.


(3)	Loan repaid in full, without premium or penalty, on June 1, 2016.


(4)	Loan repaid in full, without premium or penalty, on October 10, 2016.


(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, 2016 are as follows (in thousands):



2017	$	167,139
2018	75,224
2019	142,662
2020	51,003
2021	150,000
Thereafter	461,000
	$	1,047,028