Mortgages Payable (Tables) - Mortgages payable

6 Months Ended

Jun. 30, 2021

Debt

Summary of mortgages payable

The following table summarizes our mortgages payable as of June 30, 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
6/30/2021	62	4.5	%	4.3	%	2.9	$	299,901	$	673	$	300,574
12/31/2020	68	4.9	%	4.6	%	2.9	$	299,631	$	729	$	300,360

(1)At June 30, 2021, there were 14 mortgages on 62 properties. At December 31, 2020, there were 18 mortgages on 68 properties. The mortgages require monthly payments with principal payments due at maturity. At June 30, 2021 and December 31, 2020, all mortgages were at fixed interest rates.

(2) Stated interest rates ranged from 3.0% to 6.9% and 3.8% to 6.9% at each of June 30, 2021 and December 31, 2020, respectively.

(3) Effective interest rates ranged from 2.8% to 5.1% and 4.0% to 5.5% at each of June 30, 2021 and December 31, 2020, respectively.

Schedule of maturity of debt, net

The following table summarizes the maturity of mortgages payable, excluding net premiums of $1.6 million and deferred financing costs of $942,000, as of June 30, 2021 (dollars in millions):

Year of Maturity	Principal
2021	$	1.9
2022	112.1
2023	20.9
2024	112.5
2025	42.4
Thereafter	10.1
Totals	$	299.9