- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

RENTAL PROPERTIES (Captain Parkers) (Details)	Sep. 18, 2015 USD ($) item	Jan. 07, 2016 USD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2014 item
RENTAL PROPERTIES
Number of units \| item				1,033
Line of credit			$ 25,000,000
Residences at Captain Parkers LLC Residential Apartments Lexington, Massachusetts
RENTAL PROPERTIES
Number of units \| item	94
Purchase price of real estate properties	$ 31,600,000
Purchase price allocated to the value of the in-place leases	474,000
Purchase price allocated to the value of the tenant relationships	$ 31,000
Amortization period of value of the in-place leases	12 months
Amortization period of value of the tenant relationships	24 months
Line of credit	$ 25,000,000	$ 0