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Mortgage Loans Payable, Net
3 Months Ended
Mar. 31, 2019
Mortgage Loans Payable, Net [Abstract]  
Mortgage Loans Payable, Net
6. Mortgage Loans Payable, Net
As of March 31, 2019 and December 31, 2018, mortgage loans payable were $17,127,000 ($16,789,000, including discount/premium and deferred financing costs, net) and $17,256,000 ($16,892,000, including discount/premium and deferred financing costs, net), respectively. As of March 31, 2019 and December 31, 2018, we had three fixed-rate mortgage loans with interest rates ranging from 3.75% to 5.25% per annum, maturity dates ranging from April 1, 2020 to August 1, 2029 and a weighted average effective interest rate of 4.51%.
The following table reflects the changes in the carrying amount of mortgage loans payable, net for the three months ended March 31, 2019 and 2018:

Three Months Ended March 31,

2019

2018
Beginning balance
$
16,892,000


$
11,567,000

Additions:





Amortization of deferred financing costs
20,000


15,000

Amortization of discount/premium on mortgage loans payable
6,000


(3,000
)
Deductions:



Scheduled principal payments on mortgage loans payable
(129,000
)

(96,000
)
Ending balance
$
16,789,000


$
11,483,000


As of March 31, 2019, the principal payments due on our mortgage loans payable for the nine months ending December 31, 2019 and for each of the next four years ending December 31 and thereafter were as follows:
Year
 
Amount
2019
 
$
389,000

2020
 
8,151,000

2021
 
434,000

2022
 
455,000

2023
 
478,000

Thereafter
 
7,220,000

Total
 
$
17,127,000