DEBT (Tables)

12 Months Ended

Dec. 31, 2014

DEBT

Schedule of debt

	December 31,
	2014			2013
	(in thousands)
Mortgage loan with a fixed interest rate of 7.66% per annum, with monthly payments of principal and interest. The loan has a 20-year amortization schedule with a $25,324,000 balance due on December 1, 2015. The loan is nonrecourse.	$	26,783		$	28,262
Mortgage loan with a fixed interest rate of 4.50% per annum, with monthly payments of interest only for 10 years, and payments of interest and principal starting in February 2022. The loan has a $42,008,000 balance due on January 5, 2027. The loan is nonrecourse.		46,000			46,000
Mortgage loan with a fixed interest rate of 5.56% per annum, with monthly payments of principal and interest. The loan has a 10-year amortization schedule with a $12,288,000 balance due on July 1, 2015. The loan is nonrecourse.		12,442			12,737
Mortgage loan with a fixed interest rate of 6.65% per annum, with monthly payments of principal and interest. The loan has a 25-year amortization schedule with a $21,136,000 balance due on July 15, 2018. The loan is nonrecourse.		32,070			34,755
Mortgage loan with a fixed interest rate of 5.06% per annum, with monthly payments of principal and interest, and a balance of $33,068,000 due on September 1, 2015. The loan is nonrecourse.		33,734			34,583
Mortgage loans with a fixed interest rate of 5.39% per annum, with monthly payments of principal and interest, and a balance of $35,695,000 due on March 1, 2021. The loans are nonrecourse.		40,526			41,170
Mortgage loan with a fixed interest rate of 5.18% per annum, with monthly payments of principal and interest, and a balance of $26,232,000 due on June 5, 2021. The loan is nonrecourse.		30,292			30,812
		221,847			228,319
Premiums and discounts on assumed mortgages		1,961			2,786
Total Mortgages Payable		223,808			231,105
Junior subordinated notes with a variable interest rate which resets quarterly based on the 90-day LIBOR plus 3.25%, with quarterly interest only payments. Balance due at maturity on March 30, 2035.		27,070			—
Unsecured credit facilities		360,000			164,000
		387,070			164,000
Discount on junior subordinated notes		(2,164	)		—
Total Other		384,906			164,000
Total Debt	$	608,714		$	395,105

Schedule of principal payments on, and estimated amortization of debt (face value)

Future principal payments on our debt (face value) at December 31, 2014 are as follows:

Years Ending December 31,	Mortgages Payable		Other(1)		Total
	(in thousands)
2015	$	77,055	$	—	$	77,055
2016		4,354		360,000		364,354
2017		4,642		—		4,642
2018		24,300		—		24,300
2019		1,519		—		1,519
Thereafter		109,977		27,070		137,047
	$	221,847	$	387,070	$	608,917

(1) Represents the junior subordinated notes, and unsecured credit facility.