Schedule of debt |
Debt is composed of the following at December 31, 2023 and 2022 and collateralized by 13 properties at December 31, 2023 and 12 properties at December 31, 2022: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2023 | | December 31, 2022 | Description | | Maturity dates | | Balance outstanding | | Contractual interest rates weighted-average | | Balance outstanding | | Contractual interest rates weighted-average | Fixed-rate secured term loans: | | | | | | | | | | | Timpany Plaza | | Sep 2028 | | $ | 9,060,000 | | | 7.3% | | $ | — | | | n/a | Term loan, 10 properties | | Nov 2032 | | 110,000,000 | | | 5.3% | | 110,000,000 | | | 5.3% | Patuxent Crossing/Coliseum Marketplace | | Jan 2033 | | 25,000,000 | | | 6.4% | | 25,000,000 | | | 6.4% | | | | | 144,060,000 | | | 5.6% | | 135,000,000 | | | 5.5% | Unamortized issuance costs | | | | (3,566,000) | | | | | (3,538,000) | | | | | | | | $ | 140,494,000 | | | | | $ | 131,462,000 | | | |
|
Schedule of principal payments on secured term loans |
Scheduled principal payments on secured term loans at December 31, 2023, due on various dates from 2024 to 2033, are as follows: | | | | | | 2024 | $ | 74,000 | | 2025 | 306,000 | | 2026 | 329,000 | | 2027 | 481,000 | | 2028 | 9,456,000 | | Thereafter | 133,414,000 | | | $ | 144,060,000 | |
|
Schedule of effect of derivative financial instruments on consolidated statements of operations and consolidated statements of equity |
The following presents the effect of the Company's derivative financial instruments on the consolidated statements of operations and the consolidated statements of equity for the years ended 2023 and 2022, respectively: | | | | | | | | | | | | | | | | | | | | | | | | | Gain recognized in other comprehensive income (loss) (effective portion) | Designation/ Cash flow | | Derivative | | Years ended December 31, | | | 2023 | | 2022 | Qualifying | | Interest rate swaps | | $ | — | | | $ | 6,001,000 | | | | | | | | | | | | | (Loss) recognized in other comprehensive income (loss) reclassified into earnings (effective portion) | | | | | Years ended December 31, | | | Classification | | 2023 | | 2022 | | | Continuing Operations | | $ | — | | | $ | (2,320,000) | |
|