Debt (Tables)

6 Months Ended

Jun. 30, 2015

Debt Disclosure [Abstract]

Mortgage Loans Payable

The Trust’s mortgage loans payable at June 30, 2015 and December 31, 2014 are summarized as follows (in thousands):

Location of Collateral	Maturity	Spread Over LIBOR (1)	Interest Rate at June 30, 2015			June 30, 2015		December 31, 2014
Lisle, IL	Oct 2015	Libor + 2.5%		2.69	%	$	5,541	$	5,713
Chicago, IL	Mar 2016	—		5.75	%		19,296		19,491
New York, NY	May 2016	Libor + 2.5% (2)		3.50	%		50,750		51,034
Greensboro, NC	Aug 2016	—		6.22	%		13,600		13,600
Stamford, CT (4)(5)	Oct 2016	Libor + 2.0% (3)		2.69	%		33,448		44,923
Houston, TX (4)(5)	Oct 2016	Libor + 2.0% (3)		2.69	%		44,319		59,524
Cerritos, CA	Jan 2017	—		5.07	%		23,000		23,000
Lisle, IL	Mar 2017	—		5.55	%		5,350		5,392
Orlando, FL	Jul 2017	—		6.40	%		36,009		36,347
Plantation, FL	Apr 2018	—		6.48	%		10,478		10,550
Churchill, PA	Aug 2024	—		3.50	%		4,850		4,918
Phoenix, AZ (4)(5)	n/a	—		n/a			—		22,462
						$	246,641	$	296,954

(1) The one-month LIBOR rate at June 30, 2015 was 0.1865%. The one-month LIBOR rate at December 31, 2014 was 0.17125%.

(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) These properties are cross-collateralized. Proceeds from property sales go 100% to repay the mortgage loan.

(5) A portion of the loan was satisfied during 2015 in connection with the sale of a property.