UNSECURED NOTES PAYABLE

3 Months Ended

Mar. 31, 2016

Debt Disclosure [Abstract]

Unsecured Notes Payable

UNSECURED NOTES PAYABLE

The Company completed the following transactions related to its unsecured credit facilities during the three months ended March 31, 2016:

The Company repaid the remaining $20.8 million of its revolving unsecured credit facility.

The Company borrowed $7.5 million on its Fund II credit facility. The outstanding balance under this facility is $20.0 million as of March 31, 2016.

The Company repaid $9.2 million on its Fund IV subscription line. The outstanding balance under this facility is $82.7 million as of March 31, 2016.

The Company borrowed $5.6 million on its Fund IV term loan. The outstanding balance under this facility is $40.1 million as of March 31, 2016.

During January 2016, the Company closed on a $50.0 million unsecured term loan. The facility bears interest at LIBOR+1.30% and matures January 4, 2021.