Debt (Tables)

9 Months Ended

Sep. 30, 2015

Debt Disclosure [Abstract]

Mortgage Loans Payable

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

Location of Collateral	Maturity	Spread Over LIBOR (1)		Interest Rate at September 30, 2015			September 30, 2015		December 31, 2014
Chicago, IL	Mar 2016	—			5.75	%	$	19,201	$	19,491
New York, NY	May 2016	Libor + 2.5%	(2)		3.50	%		50,674		51,034
Greensboro, NC	Aug 2016	—			6.22	%		13,600		13,600
Lisle, IL	Oct 2016	Libor + 2.5%			2.69	%		5,500		5,713
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
Lisle, IL	Mar 2017	—			5.55	%		5,330		5,392
Orlando, FL	Jul 2017	—			6.40	%		35,843		36,347
Plantation, FL	Apr 2018	—			6.48	%		10,443		10,550
Churchill, PA	Aug 2024	—			3.50	%		4,816		4,918
Phoenix, AZ (4)(5)	n/a	—			n/a			—		22,462
Cerritos, CA (6)	n/a	—			n/a			—		23,000
							$	223,174	$	296,954

(1) The one-month LIBOR rate at September 30, 2015 was 0.1930%. 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.

(6) The loan was satisfied during 2015 in connection with the sale of the property.