Debt (Tables)

12 Months Ended

Dec. 31, 2019

Mortgages payable at December 31, 2019 and December 31, 2018 consisted of the following:



	December 31, 2019			December 31, 2018
Mortgage Indebtedness	$	333,948		$	334,897
Net Unamortized Premium	821			1,304
Net Unamortized Deferred Financing Costs	(2,489		)	(2,056		)
Mortgages Payable	$	332,280		$	334,145

Summary Of Borrowing Base Assets

As of December 31, 2019, the following hotel properties were borrowing base assets:



- Courtyard by Marriott Brookline, Brookline, MA	- Hampton Inn, Washington, DC
- Holiday Inn Express Cambridge, Cambridge, MA	- Ritz-Carlton Georgetown, Washington, DC
- The Envoy Boston Seaport, Boston, MA	- Hilton Garden Inn, M Street, Washington, DC
- The Boxer, Boston, MA	- Residence Inn Miami Coconut Grove, Coconut Grove, FL
- Hampton Inn Seaport, Seaport, New York, NY	- The Winter Haven Hotel Miami Beach, Miami, FL
- The Duane Street Hotel, New York, NY	- The Blue Moon Hotel Miami Beach, Miami, FL
- Holiday Inn Express Chelsea, 29th Street, New York, NY	- Cadillac Hotel & Beach Club, Miami, FL
- Gate Hotel JFK Airport, New York, NY	- The Parrot Key Hotel & Villas, Key West, FL
- Hilton Garden Inn JFK Airport, New York, NY	- TownePlace Suites, Sunnyvale, CA
- NU Hotel, Brooklyn, New York, NY	- The Ambrose Hotel, Santa Monica, CA
- Hyatt House White Plains, White Plains, NY	- Courtyard by Marriott Downtown San Diego, San Diego, CA
- Hampton Inn Center City/ Convention Center, Philadelphia, PA	- The Pan Pacific Hotel Seattle, Seattle, WA
- The Rittenhouse, Philadelphia, PA	- Mystic Marriott Hotel & Spa, Groton, CT
- Philadelphia Westin, Philadelphia, PA	- Sheraton Wilmington South, New Castle, DE

Summary Of Balances Outstanding And Interest Rate Spread

The following table summarizes the balances outstanding and interest rate spread for each borrowing:



		Outstanding Balance
Borrowing	Spread	December 31, 2019			December 31, 2018
Line of Credit	1.50% to 2.25%	$	48,000		$	10,000
Unsecured Term Loan:
First Term Loan	1.45% to 2.20%	207,000			207,000
Second Term Loan	1.35% to 2.00%	300,000			300,000
Third Term Loan	1.45% to 2.20%	193,900			193,900
Deferred Loan Costs		$	(3,717	)	(2,698		)
Total Unsecured Term Loan		$	697,183		$	698,202

Aggregate Annual Principal Payments For Mortgages And Notes Payable

Aggregate annual principal payments for the Company’s credit facility, unsecured term loan and mortgages and subordinated notes payable for the five years following December 31, 2019 and thereafter are as follows:



Year Ending December 31,	Amount
2020	$	1,699
2021	325,756
2022	253,289
2023	77,990
2024	386,283
Thereafter	89,379
Net Unamortized Premium	821
	$	1,135,217