Financing Activity (Tables)

6 Months Ended

Jun. 30, 2019

Schedule Of Applicable Margin Interest Rates

		Applicable Margin
Level	Ratio of Total Liabilities to Gross Asset Value	Revolving Loans that are LIBOR Loans			Revolving Loans that are Base Rate Loans			Term Loans that are LIBOR Loans			Term Loans that are Base Rate Loans
1	Less than 0.450 to 1.00		1.20	%		0.20	%		1.35	%		0.35	%
2	Equal to or greater than 0.450 to 1.00 but less than 0.500 to 1.00		1.25	%		0.25	%		1.45	%		0.45	%
3	Equal to or greater than 0.500 to 1.00 but less than 0.550 to 1.00 ₍₁₎		1.30	%		0.30	%		1.60	%		0.60	%
4	Equal to or greater than 0.550 to 1.00		1.55	%		0.55	%		1.90	%		0.90	%

⁽¹⁾	The rates in effect under the Credit Agreements were based upon the Level 3 Ratio of Total Liabilities to Gross Asset Value as of June 30, 2019.

Schedule Of Credit Facility Interest Expense

Interest expense, deferred financing fee amortization and accelerated financing costs, if any, related to the Credit Agreements for the three and six months ended June 30, 2019 and 2018 were as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands of dollars)	2019		2018		2019		2018
Revolving Facilities⁽¹⁾
Interest expense	$	1,827	$	248	$	3,061	$	613
Deferred financing amortization		274		304		548		504
Term Loans⁽²⁾
Interest expense		5,127		4,499		10,265		8,785
Deferred financing amortization		190		190		379		381
Accelerated financing costs		-		363		-		363

⁽¹⁾	Includes the 2018 Revolving Facility and the 2013 Revolving Facility (collectively, the “Revolving Facilities”). The 2013 Revolving Facility was replaced by the 2018 Revolving Facility in May 2018.

⁽²⁾	Includes the 2018 Term Loan Facility, the 2014 7-Year Term Loan, the 2014 5-Year Term Loan and the 2015 5-Year Term Loan. The 2014 5-Year Term Loan and the 2015 5-Year Term Loan were replaced by the 2018 Term Loan Facility in May 2018.

Carrying and Fair Values of Mortgage Loans

The aggregate carrying values and estimated fair values of mortgage loans based on interest rates and market conditions at June 30, 2019 and December 31, 2018 were as follows:

	June 30, 2019				December 31, 2018
(in millions of dollars)	Carrying Value		Fair Value		Carrying Value		Fair Value
Mortgage loans⁽¹⁾	$	981.5	$	955.8	$	1,047.9	$	1,002.3

⁽¹⁾	The carrying value of mortgage loans is net of unamortized debt issuance costs of $2.5 million and $3.1 million as of June 30, 2019 and December 31, 2018, respectively.