Debt (Tables)

12 Months Ended

Dec. 31, 2014

Debt Disclosure [Abstract]

Mortgage Loans Payable

The Trust’s mortgage loans payable at December 31, 2014 and 2013 are summarized as follows (in thousands):

Location of Collateral	Maturity	Spread Over LIBOR (1)					Interest Rate at December 31, 2014			December 31, 2014		December 31, 2013
Lisle, IL	Oct 2015		Libor + 2.5	%				2.67	%		5,713	$	5,752
Chicago, IL	Mar 2016		—					5.75	%		19,491		19,856
New York, NY	May 2016		Libor + 2.5	%	(2	)		3.50	%		51,034		51,950
Greensboro, NC	Aug 2016		—					6.22	%		13,600		14,735
Phoenix, AZ	Oct 2016		Libor + 2.0	%	(3	)		2.69	%		22,462		24,390
Stamford, CT	Oct 2016		Libor + 2.0	%	(3	)		2.69	%		44,923		48,780
Houston, TX	Oct 2016		Libor + 2.0	%	(3	)		2.69	%		59,524		64,635
Cerritos, CA	Jan 2017		—					5.07	%		23,000		23,142
Lisle, IL	Mar 2017		—					5.55	%		5,392		5,470
Orlando, FL	Jul 2017		—					6.40	%		36,347		36,983
Plantation, FL	Apr 2018		—					6.48	%		10,550		10,684
Churchill, PA	Aug 2024		—					3.50	%		4,918		5,049
Chicago, IL (4)	N/A		—					N/A			—		8,579
Houston, TX (5)	N/A		—					N/A			—		47,201
Oklahoma City, OK (5)	N/A		—					N/A			—		9,967
Memphis, TN (6)	N/A		—					N/A			—		13,125
San Pedro, CA (6)	N/A		—					N/A			—		12,195
Philadelphia, PA (6)	N/A		—					N/A			—		42,440
										$	296,954	$	444,933

(1) The one-month LIBOR rate at December 31, 2014 was 0.17125%. The one-month LIBOR rate at December 31, 2013 was 0.1677%.

(2) The loan has a LIBOR floor of 1%.

(3) The loan has an interest rate swap which effectively fixes LIBOR at 0.69%.

(4) The loan obligation was satisfied in connection with the sale of the Trust’s interest in the property.

(5) The property which collateralized this loan is not consolidated under liquidation accounting.

(6) The loan was satisfied during 2014 in connection with the sale of the property.