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Mortgages Payable (Tables) - Mortgages payable
 3 Months Ended
Mar. 31, 2022
Debt  
Summary of mortgages payable
The following table summarizes our mortgages payable as of March 31, 2022, and December 31, 2021, 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
3/31/20222214.8 %3.4 %1.6$1,069,311 $24,288 $1,093,599 
12/31/20212674.8 %3.5 %1.8$1,114,129 $27,866 $1,141,995 
(1)At March 31, 2022, there were 21 mortgages on 221 properties. At December 31, 2021, there were 22 mortgages on 267 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 March 31, 2022, and December 31, 2021, all mortgages were at fixed interest rates.
(2) Stated interest rates ranged from 3.0% to 6.9% at each of March 31, 2022, and December 31, 2021.
(3) Effective interest rates ranged from 2.6% to 6.0% at each of March 31, 2022, and December 31, 2021.
Schedule of maturity of debt, net
The following table summarizes the maturity of mortgages payable, excluding net premiums of $25.0 million and deferred financing costs of $713,000, as of March 31, 2022 (dollars in millions):
Year of Maturity
Principal
2022$227.5
202362.1
2024733.0
202540.8
20261.2
Thereafter4.7
Totals
$1,069.3