XML 92 R20.htm IDEA: XBRL DOCUMENT v2.4.0.6
Note 11 - Mortgages Payable
6 Months Ended
Jun. 30, 2012
Debt Disclosure [Text Block]
11. Mortgages Payable

During the six months ended June 30, 2012, the Company (i) assumed $120.0 million of individual non-recourse mortgage debt relating to the acquisition of four operating properties, including an increase of $3.2 million associated with fair value debt adjustments, (ii) paid off $200.3 million of mortgage debt that encumbered 11 properties and (iii) assigned one mortgage of $1.3 million in connection with a property disposition.

Mortgages payable, collateralized by certain shopping center properties and related tenants' leases, are generally due in monthly installments of principal and/or interest, which mature at various dates through 2031. Interest rates range from LIBOR (0.25% as of June 30, 2012) to 9.75% (weighted-average interest rate of 6.28% as of June 30, 2012).  The scheduled principal payments (excluding any extension options available to the Company) of all mortgages payable, excluding unamortized fair value debt adjustments of $9.8 million, as of June 30, 2012, were as follows (in millions): 2012, $41.5; 2013, $129.0; 2014, $224.9; 2015, $110.6; 2016, $233.3; and thereafter, $241.5.