Mortgages Payable (Tables) - Mortgages payable

9 Months Ended

Sep. 30, 2021

Debt

Summary of mortgages payable

The following table summarizes our mortgages payable as of September 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
9/30/2021	61	4.4	%	4.3	%	2.2	$	285,549	$	68	$	285,617
12/31/2020	68	4.9	%	4.6	%	2.9	$	299,631	$	729	$	300,360

(1)At September 30, 2021, there were 13 mortgages on 61 properties. At December 31, 2020, there were 18 mortgages on 68 properties. With the exception of one Sterling-denominated mortgage which is paid quarterly, the mortgages require monthly payments with principal payments due at maturity. At September 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 September 30, 2021 and December 31, 2020, respectively.

(3) Effective interest rates ranged from 2.8% to 4.9% and 4.0% to 5.5% at each of September 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 $933,000 and deferred financing costs of $865,000, as of September 30, 2021 (dollars in millions):

Year of Maturity	Principal
2021	$	0.9
2022	111.6
2023	20.4
2024	111.9
2025	40.8
Totals	$	285.6