Indebtedness (Tables)

12 Months Ended

Dec. 31, 2017

Debt Disclosure [Abstract]

Schedule of debt

The Company’s indebtedness was comprised of the following as of December 31, 2017 and 2016 (dollars in thousands):  

							Stated Interest		Stated Maturity
	Principal Balance						Rate		Date
	December 31,						December 31,
	2017			2016			2017
North Point Center Note 5	$	—		$	643		LIBOR + 2.00%		February 1, 2017
Harrisonburg Regal	—			3,256			6.06	%	June 8, 2017
Commonwealth of Virginia - Chesapeake	—			4,933			LIBOR + 1.90%		August 28, 2017
Sandbridge Commons (2)	8,468			9,376			LIBOR + 1.75%		January 17, 2018
Columbus Village Note 1 (1)	6,080			6,258			LIBOR + 2.00%		April 5, 2018
Columbus Village Note 2	2,218			2,266			LIBOR + 2.00%		April 5, 2018
Johns Hopkins Village	46,698			43,841			LIBOR + 1.90%		July 30, 2018
Lightfoot Marketplace	10,500			12,194			LIBOR + 1.75%		November 14, 2018
North Point Note 1	9,571			9,776			6.45	%	February 5, 2019
Harding Place	3,874			—			LIBOR + 2.95%		February 24, 2020
Town Center Phase VI	1,505			—			LIBOR + 3.50%		June 29, 2020
Southgate Square	20,708			21,150			LIBOR + 2.00%		April 29, 2021
249 Central Park Retail (3)	16,851			17,076			LIBOR + 1.95%		August 8, 2021
Fountain Plaza Retail (3)	10,145			10,281			LIBOR + 1.95%		August 8, 2021
South Retail (3)	7,394			7,493			LIBOR + 1.95%		August 8, 2021
4525 Main Street (4)	32,034			32,034			3.25	%	September 10, 2021
Encore Apartments (4)	24,966			24,966			3.25	%	September 10, 2021
Revolving credit facility	66,000			107,000			LIBOR+1.40%-2.00%		October 26, 2021
Hanbury Village	19,503			20,709			0.0378		August 15, 2022
Term loan (1)	50,000			50,000			LIBOR+1.35%-1.95%		October 26, 2022
Term loan	100,000			50,000			LIBOR+1.35%-1.95%		October 26, 2022
Socastee Commons	4,771			4,866			4.57	%	January 6, 2023
North Point Note 2	2,459			2,564			7.25	%	September 15, 2025
Smith's Landing	19,764			20,511			4.05	%	June 1, 2035
Liberty Apartments	14,694			20,005			5.66	%	November 1, 2043
The Cosmopolitan	45,209			45,884			3.35	%	July 1, 2051
Total principal balance	$	523,412		$	527,082
Unamortized fair value adjustments	(1,211		)	(1,250		)
Unamortized debt issuance costs	(4,929		)	(3,652		)
Indebtedness, net	$	517,272		$	522,180

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(1) Subject to an interest rate swap agreement.

(2) Subsequent to December 31, 2017, the Sandbridge Commons mortgage was extended for an additional 5 years.

(3) Cross collateralized.

(4) Cross collateralized.

Components of debt

The Company’s indebtedness was comprised of the following fixed and variable-rate debt as of December 31, 2017 and 2016 (in thousands):

	December 31,
	2017		2016
Fixed-rate debt	$	229,051	$	241,472
Variable-rate debt	294,361		285,610
Total principal balance	$	523,412	$	527,082

Scheduled principal repayments and term-loan maturities

Scheduled principal repayments and maturities during each of the next five years and thereafter are as follows (in thousands): 

Year	Scheduled Principal Payments		Maturities		Total Payments
2018	$	4,361	$	73,322	$	77,683
2019	3,951		9,333		13,284
2020	4,959		5,379		10,338
2021	4,073		172,274		176,347
2022	2,699		167,109		169,808
Thereafter	70,385		5,567		75,952
Total	$	90,428	$	432,984	$	523,412