Unsecured Lines of Credit (Tables)

3 Months Ended

Mar. 31, 2017

Unsecured Lines of Credit [Member]

Summary of Unsecured Lines of Credit

The following represents the unsecured lines of credit (“LOC”) at March 31, 2017 and December 31, 2016:

Unsecured Lines of Credit	Outstanding on March 31, 2017		Total Commitment		Maturity	Variable / Fixed	Reset Frequency	Period End Rate
Bankers Trust	$	-	$	40,000,000	May 2018	Variable	Monthly		3.31	%
Bankers Trust operating		-		7,500,000	May 2018	Variable	Monthly		4.06	%
Total unsecured lines of credit	$	-	$	47,500,000

Unsecured Lines of Credit	Outstanding on December31, 2016		Total Commitment		Maturity	Variable / Fixed	Reset Frequency	Period End Rate
Bankers Trust	$	40,000,000	$	40,000,000	May 2018	Variable	Monthly		3.13	%
Bankers Trust operating		-		7,500,000	May 2018	Variable	Monthly		3.88	%
Total unsecured lines of credit	$	40,000,000	$	47,500,000