Consolidated debt consisted of the following (dollars in thousands):



	Encumbered	Interest	Maturity	June 30,		December 31,
	Hotels	Rate (%)	Date	2015		2014
Senior unsecured notes	—	6.00	June 2025	$	475,000	$	—
Senior secured notes	9	5.625	March 2023	525,000		525,000
Mortgage debt^(a)	4	4.95	October 2022	123,422		124,278
Mortgage debt	1	4.94	October 2022	30,973		31,228
Line of credit	7	LIBOR + 2.75	June 2019^(b)	316,000		—
The Knickerbocker loan^(c)
Construction tranche	1	LIBOR + 4.00	May 2016	58,562		58,562
Cash collateralized tranche	—	LIBOR + 1.25	May 2016	6,299		6,299
Retired debt	—	—	—	—		840,500
Total	22			$	1,535,256	$	1,585,867


(a)	This debt is comprised of separate non-cross-collateralized loans, each secured by a mortgage encumbering different hotels.


(b)	Our line of credit can be extended for one year (to 2020), subject to satisfying certain conditions.


(c)	This construction loan (total capacity of $85.0 million) finances the redevelopment of The Knickerbocker and can be extended for one year, subject to satisfying certain conditions.