Mortgages Payable (Tables) - Mortgages payable

3 Months Ended

Mar. 31, 2021

Debt

Summary of mortgages payable

The following table summarizes our mortgages payable as of March 31, 2021 and December 31, 2020, respectively (dollars in thousands):

As Of	Number of Properties (1)	Weighted Average Stated Interest Rate (2)		Weighted Average Effective Interest Rate (3)		Weighted Average Remaining Years Until Maturity	Remaining Principal Balance		Unamortized Premium and Deferred Financing Costs Balance, net		Mortgage Payable Balance
3/31/2021	64	4.8	%	4.6	%	2.8	$	281,521	$	516	$	282,037
12/31/2020	68	4.9	%	4.6	%	2.9	$	299,631	$	729	$	300,360

(1)At March 31, 2021, there were 15 mortgages on 64 properties. At December 31, 2020, there were 18 mortgages on 68 properties. The mortgages require monthly payments with principal payments due at maturity. At March 31, 2021 and December 31, 2020, all mortgages were at fixed interest rates.

(2) Stated interest rates ranged from 3.8% to 6.9% at each of March 31, 2021 and December 31, 2020.

(3) Effective interest rates ranged from 4.0% to 5.5% at each of March 31, 2021 and December 31, 2020.

Schedule of maturity of debt, net

The following table summarizes the maturity of mortgages payable, excluding net premiums of $1.4 million and deferred financing costs of $907,000, as of March 31, 2021 (dollars in millions):

Year of Maturity	Principal
2021	$	26.1
2022	111.8
2023	20.6
2024	112.2
2025	0.7
Thereafter	10.1
Totals	$	281.5