Mortgage Notes Payable (Tables)

3 Months Ended

Mar. 31, 2014

Debt Disclosure [Abstract]

Schedule of Mortgage Notes Payable

The Company’s mortgage notes payable consist of the following as of March 31, 2014 and December 31, 2013 (dollar amounts in thousands):

	Encumbered Properties		Outstanding Loan Amount		Weighted Average Effective Interest Rate (1)			Weighted Average Maturity (2)
March 31, 2014		697	$	4,128,384		4.83	%		6.23
December 31, 2013		177	$	1,258,661		3.42	%		3.41

(1) Mortgage notes payable primarily have fixed rates or are fixed by way of interest rate swap arrangements. Effective interest rates range from 2.41% to 7.20% at March 31, 2014 and 1.83% to 6.28% at December 31, 2013.

(2) Weighted average remaining years until maturity as of March 31, 2014 and December 31, 2013, respectively.