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UNSECURED NOTES PAYABLE
6 Months Ended
Jun. 30, 2016
Debt Disclosure [Abstract]  
UNSECURED NOTES PAYABLE
UNSECURED NOTES PAYABLE

The Company completed the following transactions related to its unsecured credit facilities during the six months ended June 30, 2016:

The Company repaid the remaining $20.8 million of its revolving unsecured credit facility. During June 2016, the Company canceled the existing credit facility and entered into a new $150.0 million revolving unsecured credit facility. The new facility bears interest at LIBOR plus 140 basis points and matures June 27, 2020 with a one-year extension option. There is no outstanding balance as of June 30, 2016.

The Company repaid the $50.0 million term loan and closed on a new $150.0 million unsecured term loan. The facility bears interest at LIBOR+1.30% and matures June 27, 2021.

The Company borrowed $7.5 million on its Fund II credit facility. The outstanding balance under this facility is $20.0 million as of June 30, 2016.

The Company repaid $5.3 million on its Fund IV subscription line. The outstanding balance under this facility is $86.6 million as of June 30, 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 June 30, 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.