Debt (Tables)

6 Months Ended

Jun. 30, 2017

Schedule of Long-term Debt Instruments [Table Text Block]

Mortgages payable consisted of the following:

	June 30, 2017		December 31, 2016
(not presented in thousands)	(in thousands)
Note payable in monthly installments of interest only at LIBOR plus 160 basis points, swapped to a fixed rate of 2.49% with a balloon payment due April 4, 2018; collateralized by related real estate and tenants' leases	$	25,000	$	25,000
Note payable in monthly installments of $153,838, including interest at 6.90% per annum, with the final monthly payment due January 2020; collateralized by related real estate and tenants’ leases		4,357		5,114
Note payable in monthly installments of $23,004, including interest at 6.24% per annum, with a balloon payment of $2,781,819 due February 2020; collateralized by related real estate and tenant lease		3,006		3,049
Note payable in monthly installments of interest only at 3.60% per annum, with a balloon payment due January 1, 2023; collateralized by related real estate and tenants' leases		23,640		23,640
Note payable in monthly installments of $35,673, including interest at 5.01% per annum, with a balloon payment of $4,034,627 due September 2023; collateralized by related real estate and tenant lease		5,213		5,294
Note payable in monthly installments of $91,675 including interest at 6.27% per annum, with a final monthly payment due July 2026; collateralized by related real estate and tenants’ leases		7,604		7,910
Total principal		68,820		70,007
Unamortized debt issuance costs		(817)		(940)
Total	$	68,003	$	69,067

Schedule of Maturities of Long-term Debt [Table Text Block]

The following table presents scheduled principal payments related to our debt as of June 30, 2017 (in thousands):

	Scheduled		Balloon
	Principal		Payment		Total
Remainder of 2017	$	1,602	$	-	$	1,602
2018		3,337		25,000		28,337
2019		2,751		18,547		21,298
2020		1,092		2,775		3,867
2021 (1)		998		48,000		48,998
Thereafter		8,763		323,640		332,403
Total	$	18,543	$	417,962	$	436,505

(1) The balloon payment balance includes the balance outstanding under the Credit Facility as of June 30, 2017. The Credit Facility matures in January 2021, with options to extend the maturity for one year at the Company’s election, subject to certain conditions.

Senior Unsecured Notes [Member]

Schedule of Maturities of Long-term Debt [Table Text Block]

The following table presents the Senior Unsecured Notes balance net of unamortized debt issuance costs as of June 30, 2017, and December 31, 2016 (in thousands):

	June 30, 2017		December 31, 2016
2025 Senior Unsecured Notes	$	50,000	$	50,000
2027 Senior Unsecured Notes		50,000		50,000
2028 Senior Unsecured Notes		60,000		60,000
Total Principal		160,000		160,000
Unamortized debt issuance costs		(782)		(824)
Total	$	159,218	$	159,176

Unsecured Debt [Member]

Schedule of Maturities of Long-term Debt [Table Text Block]

The following table presents the Unsecured Term Loans balance net of unamortized debt issuance costs as of June 30, 2017 and December 31, 2016 (in thousands):

	June 30, 2017		December 31, 2016
2019 Term Loan	$	19,685	$	20,044
2023 Term Loan		40,000		40,000
2024 Term Loans		100,000		100,000
Total Principal		159,685		160,044
Unamortized debt issuance costs		(1,248)		(1,365)
Total	$	158,437	$	158,679