DEBT (Tables)

3 Months Ended

Mar. 31, 2016

DEBT

Schedule of debt

	March 31, 2016			December 31, 2015
	(in thousands)
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 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.		28,451			29,201
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.		39,669			39,846
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.		29,603			29,744
		143,723			144,791
Deferred loan costs related to mortgage loans		(862	)		(897	)
Premiums and discounts on assumed mortgages, net		1,064			1,178
Total Mortgages Payable		143,925			145,072
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			27,070
Unsecured term loan facility		385,000			385,000
Unsecured credit facility		107,000			107,000
		519,070			519,070
Deferred loan costs related to unsecured term loan and credit facilities		(4,425	)		(5,216	)
Discount on junior subordinated notes		(2,072	)		(2,091	)
Total Other		512,573			511,763
Total Debt	$	656,498		$	656,835

Schedule of future principal payments on our debt (face value)

        Future principal payments on our debt (face value) at March 31, 2016 are as follows:

Years Ending December 31,	Mortgages Payable		Other(1)		Total
	(in thousands)
2016 (Nine months ending December 31, 2016)	$	3,286	$	107,000	$	110,286
2017		4,642		—		4,642
2018		24,300		—		24,300
2019		1,519		—		1,519
2020		1,596		—		1,596
Thereafter		108,380		412,070		520,450
	$	143,723	$	519,070	$	662,793

(1)           Represents the junior subordinated notes and unsecured credit and term loan facilities.