Summary of terms of notes payable |
The following table summarizes the terms of notes payable outstanding at December 31, 2016 and 2015 (in thousands): | | | | | | | | | | | | | | Description | | Interest Rate | | Maturity | | 2016 | | 2015 | Term Loan, unsecured | | 1.97% | | 2021 | | $ | 250,000 |
| | $ | — |
| Fifth Third Center | | 3.37% | | 2026 | | 149,516 |
| | — |
| Credit Facility, unsecured | | 1.87% | | 2019 | | 134,000 |
| | 92,000 |
| One Eleven Congress | | 6.08% | | 2017 | | 128,000 |
| | — |
| The American Cancer Society Center | | 6.45% | | 2017 | | 127,508 |
| | 129,342 |
| Colorado Tower | | 3.45% | | 2026 | | 120,000 |
| | — |
| Promenade | | 4.27% | | 2022 | | 105,342 |
| | 108,203 |
| San Jacinto | | 6.05% | | 2017 | | 101,000 |
| | — |
| 816 Congress | | 3.75% | | 2024 | | 84,872 |
| | 85,000 |
| 3344 Peachtree | | 4.75% | | 2017 | | 78,971 |
| | — |
| Two Buckhead Plaza | | 6.43% | | 2017 | | 52,000 |
| | — |
| Meridian Mark Plaza | | 6.00% | | 2020 | | 24,522 |
| | 24,978 |
| The Pointe | | 4.01% | | 2019 | | 22,945 |
| | — |
| Post Oak Central | | 4.26% | | 2020 | | — |
| | 181,770 |
| 191 Peachtree Tower | | 3.35% | | 2018 | | — |
| | 100,000 |
| | | | | | | $ | 1,378,676 |
| | $ | 721,293 |
| Unamortized premium, net | | | | | | 6,792 |
| | — |
| Unamortized loan costs | | | | | | (4,548 | ) | | (2,483 | ) | Total Notes Payable | | | | | | $ | 1,380,920 |
| | $ | 718,810 |
|
|
Summary of interest recorded |
For the years ended December 31, 2016, 2015, and 2014, interest was recorded as follows (in thousands): | | | | | | | | | | | | | | 2016 | | 2015 | | 2014 | Total interest incurred | $ | 31,347 |
| | $ | 26,314 |
| | $ | 23,735 |
| Interest capitalized | (4,697 | ) | | (3,579 | ) | | (2,752 | ) | Total interest expense | $ | 26,650 |
| | $ | 22,735 |
| | $ | 20,983 |
|
|
Schedule of future principal payments due |
Future principal payments due (including scheduled amortization payments and payments due upon maturity) on the Company's notes payable at December 31, 2016 are as follows (in thousands): | | | | | 2017 | $ | 495,916 |
| 2018 | 9,348 |
| 2019 | 167,047 |
| 2020 | 33,826 |
| 2021 | 261,256 |
| Thereafter | 411,283 |
| | $ | 1,378,676 |
|
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