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Mortgage Loans Payable, Net
6 Months Ended
Jun. 30, 2019
Mortgage Loans Payable, Net [Abstract]  
Mortgage Loans Payable, Net
6. Mortgage Loans Payable, Net
As of June 30, 2019 and December 31, 2018, mortgage loans payable were $27,463,000 ($26,370,000, 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 June 30, 2019, we had four fixed-rate mortgage loans with interest rates ranging from 3.67% to 5.25% per annum, maturity dates ranging from April 1, 2020 to February 1, 2051 and a weighted average effective interest rate of 4.19%. As of 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 six months ended June 30, 2019 and 2018:

Six Months Ended June 30,

2019

2018
Beginning balance
$
16,892,000


$
11,567,000

Additions:





Assumption of mortgage loans payable, net
9,735,000

 
5,808,000

Amortization of deferred financing costs
39,000


33,000

Amortization of discount/premium on mortgage loans payable
17,000



Deductions:



Deferred financing costs
(27,000
)
 
(123,000
)
Scheduled principal payments on mortgage loans payable
(286,000
)

(200,000
)
Ending balance
$
26,370,000


$
17,085,000


As of June 30, 2019, the principal payments due on our mortgage loans payable for the six months ending December 31, 2019 and for each of the next four years ending December 31 and thereafter were as follows:
Year
 
Amount
2019
 
$
350,000

2020
 
8,332,000

2021
 
622,000

2022
 
651,000

2023
 
680,000

Thereafter
 
16,828,000

Total
 
$
27,463,000