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Mortgage Loans Payable And Credit Facilities (Tables)
6 Months Ended
Jun. 30, 2016
Debt Disclosure [Abstract]  
Schedule Of Mortgage Loans Payable Repaid

The Company repaid the following mortgage loans payable during 2016:

 

 

 

 

 

Principal payoff

 

Property

 

Repayment date

 

amount

 

Gold Star Plaza

 

March 10, 2016

 

$

953,000

 

West Bridgewater

 

June 6, 2016

 

$

10,037,000

 

Hamburg Square

 

July 1, 2016

 

$

4,569,000

 

Meadows Marketplace

 

August 1, 2016

 

$

9,089,000

 

Carman's Plaza

 

August 1, 2016

 

$

33,500,000

 

 

Summary Of The Derivative Financial Instruments Held

The following is a summary of the derivative financial instruments held by the Company at June 30, 2016 and December 31, 2015:

 

June 30, 2016

Designation/

 

 

 

 

 

 

 

Notional

 

 

Fair

 

 

Maturity

 

Balance sheet

Cash flow

 

Derivative

 

Count

 

 

value

 

 

value

 

 

dates

 

location

Qualifying

 

Interest rate swaps

 

 

5

 

 

$

350,000,000

 

 

$

13,618,000

 

 

2019 - 2023

 

Accounts payable and accrued liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2015

Designation/

 

 

 

 

 

 

 

Notional

 

 

Fair

 

 

Maturity

 

Balance sheet

Cash flow

 

Derivative

 

Count

 

 

value

 

 

value

 

 

dates

 

location

Qualifying

 

Interest rate swaps

 

 

4

 

 

$

250,000,000

 

 

$

3,945,000

 

 

2019 - 2022

 

Accounts payable and accrued liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Effect Of The Derivative Financial Instruments On The 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 three and six months ended June 30, 2016 and 2015, respectively:

 

 

 

 

 

(Loss) gain recognized in other

 

 

 

 

 

comprehensive income

 

 

 

 

 

(effective portion)

 

Designation/

 

 

 

Three months ended June 30,

 

 

Six months ended June 30,

 

Cash flow

 

Derivative

 

2016

 

 

2015

 

 

2016

 

 

2015

 

Qualifying

 

Interest rate swaps

 

$

(5,504,000

)

 

$

1,562,000

 

 

$

(11,396,000

)

 

$

(1,185,000

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Loss) recognized in other

 

 

 

 

 

comprehensive income

 

 

 

 

 

reclassified into earnings (effective portion)

 

 

 

 

 

Three months ended June 30,

 

 

Six months ended June 30,

 

 

 

Classification

 

2016

 

 

2015

 

 

2016

 

 

2015

 

 

 

Continuing Operations

 

$

(908,000

)

 

$

(732,000

)

 

$

(1,830,000

)

 

$

(1,463,000

)