Unsecured Lines of Credit (Tables)

6 Months Ended

Jun. 30, 2017

Unsecured Lines of Credit [Member]

Summary of Unsecured Lines of Credit

The following represents the unsecured lines of credit (“LOC”) at June 30, 2017 and December 31, 2016:

Unsecured Lines of Credit	Outstanding on June 30, 2017		Total Commitment		Maturity	Variable / Fixed	Reset Frequency	Period End Rate
Bankers Trust	$	-	$	50,000,000	May 2019	Variable	Monthly		4.22	%
Bankers Trust operating		-		10,000,000	May 2019	Variable	Monthly		4.47	%
Total unsecured lines of credit	$	-	$	60,000,000

¹ The variable rate is indexed to LIBOR plus an applicable margin.

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

² The variable rate is indexed to LIBOR plus an applicable margin.