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Mortgages Payable (Tables) - Mortgages payable
 12 Months Ended
Dec. 31, 2021
Debt  
Summary of mortgages payable
The following summarizes our mortgages payable as of December 31, 2021 and 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
Finance Costs
Balance, net		Mortgage
Payable
Balance
12/31/2021
267 4.8 %3.5 %1.8$1,114,129 $27,866 $1,141,995 
12/31/2020
68 4.9 %4.6 %2.9$299,631 $729 $300,360 
(1) At December 31, 2021, there were 22 mortgages on 267 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 December 31, 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 December 31, 2021 and 2020, respectively.
(3) Effective interest rates ranged from 2.6% to 6.0% and 4.0% to 5.5% at each of December 31, 2021 and 2020, respectively.
Schedule of maturity of debt, net
The following table summarizes the maturity of mortgages payable, excluding net premiums of $28.7 million and deferred financing costs of $790,000, as of December 31, 2021 (in millions):
Year of MaturityPrincipal
2022$271.1 
202362.1 
2024733.0 
202542.0 
20261.2 
Thereafter4.7 
Totals$1,114.1