2.4.0.8107 - Disclosure - Mortgages Payabletruefalsefalse1false falsefalsefrom-2013-01-01-to-2013-06-30.579.0.0.0.0.0.0.0http://www.sec.gov/CIK0001436975duration2013-01-01T00:00:002013-06-30T00:00:001true 1us-gaap_LoansPayableAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse0Mortgages Payable [Abstract]2false 2us-gaap_MortgageNotesPayableDisclosureTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalseterseLabel1falsefalsefalse00<div> <div> <table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="FONT-SIZE: 10pt; PADDING-RIGHT: 0.8pt; WIDTH: 0.25in"> <strong><em>7.</em></strong></td> <td style="FONT-SIZE: 10pt; PADDING-RIGHT: 0.8pt; TEXT-ALIGN: justify"> <strong><em>Mortgages Payable</em></strong></td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in; TEXT-INDENT: 0.25in">  </p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in; TEXT-INDENT: 0.25in"> Mortgages payable consisted of the following:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"> <em> </em></p> <table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.25in; WIDTH: 95%" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt"> </td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt"> </td> <td style="FONT-SIZE: 10pt"> </td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt"> </td> <td style="FONT-SIZE: 10pt" colspan="2"> </td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt"> </td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt"> </td> <td style="FONT-SIZE: 10pt"> </td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt"> </td> <td style="FONT-SIZE: 10pt" colspan="2"> </td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt"> </td> <td style="COLOR: black; PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif">  </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif" colspan="6">Loan Amount Outstanding</td> <td style="COLOR: black; PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT: bold 10pt Times New Roman, Times, Serif"> Description</td> <td style="COLOR: black; PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif">  </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif"> Interest Rate</td> <td style="COLOR: black; PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif">  </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif" colspan="2">Weighted Average Interest Rate as of June 30, 2013</td> <td style="COLOR: black; PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif">  </td> <td style="COLOR: black; PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif">  </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif"> Maturity Date</td> <td style="COLOR: black; PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif">  </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif" colspan="2">Amount Due at Maturity</td> <td style="COLOR: black; PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif">  </td> <td style="COLOR: black; PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif">  </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif" colspan="2">As of<br />  June 30, 2013</td> <td style="COLOR: black; PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif">  </td> <td style="COLOR: black; PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif">  </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif" colspan="2">As of December 31, 2012</td> <td style="COLOR: black; PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt"> </td> <td style="FONT-SIZE: 10pt"> </td> <td style="FONT-SIZE: 10pt"> </td> <td style="FONT-SIZE: 10pt"> </td> <td style="FONT-SIZE: 10pt" colspan="2"> </td> <td style="FONT-SIZE: 10pt"> </td> <td style="FONT-SIZE: 10pt"> </td> <td style="FONT-SIZE: 10pt"> </td> <td style="FONT-SIZE: 10pt"> </td> <td style="FONT-SIZE: 10pt" colspan="2"> </td> <td style="FONT-SIZE: 10pt"> </td> <td style="FONT-SIZE: 10pt"> </td> <td style="FONT-SIZE: 10pt" colspan="2"> </td> <td style="FONT-SIZE: 10pt"> </td> <td style="FONT-SIZE: 10pt"> </td> <td style="FONT-SIZE: 10pt" colspan="2"> </td> <td style="FONT-SIZE: 10pt"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="COLOR: black; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 17%"> TownePlace Suites Mortgage, secured by TownePlace Suites Hotel located in Metairie, Louisiana</td> <td style="COLOR: black; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 2%">  </td> <td style="COLOR: black; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 17%"> Libor plus 3.75%, subject to 6.00% floor</td> <td style="COLOR: black; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 2%">  </td> <td style="COLOR: black; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 1%">  </td> <td style="COLOR: black; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 15%"> 6.00%</td> <td style="COLOR: black; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 1%">  </td> <td style="COLOR: black; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 2%">  </td> <td style="COLOR: black; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 17%"> March 14, 2015</td> <td style="COLOR: black; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 2%">  </td> <td style="COLOR: black; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 1%"> $</td> <td style="COLOR: black; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 15%"> 5,663</td> <td style="COLOR: black; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 1%">  </td> <td style="COLOR: black; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 2%">  </td> <td style="COLOR: black; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 1%"> $</td> <td style="COLOR: black; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 15%"> 5,867</td> <td style="COLOR: black; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 1%">  </td> <td style="COLOR: black; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 2%">  </td> <td style="COLOR: black; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 1%"> $</td> <td style="COLOR: black; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 15%"> 5,923</td> <td style="COLOR: black; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 1%">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-SIZE: 10pt"> </td> <td style="FONT-SIZE: 10pt"> </td> <td style="FONT-SIZE: 10pt"> </td> <td style="FONT-SIZE: 10pt"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left"> </td> <td style="FONT-SIZE: 10pt"> </td> <td style="FONT-SIZE: 10pt"> </td> <td style="FONT-SIZE: 10pt"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left"> </td> <td style="FONT-SIZE: 10pt"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left"> </td> <td style="FONT-SIZE: 10pt"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="COLOR: black; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> SpringHill Suites Hotel Mortgage, secured by SpringHill Suites Hotel located in Peabody, Massachusetts</td> <td style="COLOR: black; FONT: 10pt Times New Roman, Times, Serif">  </td> <td style="COLOR: black; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> Libor plus 3.75%, subject to 5.75% floor</td> <td style="COLOR: black; FONT: 10pt Times New Roman, Times, Serif">  </td> <td style="COLOR: black; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif">  </td> <td style="COLOR: black; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif"> 5.75%</td> <td style="COLOR: black; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif">  </td> <td style="COLOR: black; FONT: 10pt Times New Roman, Times, Serif">  </td> <td style="COLOR: black; FONT: 10pt Times New Roman, Times, Serif"> July 13, 2015</td> <td style="COLOR: black; FONT: 10pt Times New Roman, Times, Serif">  </td> <td style="COLOR: black; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif">  </td> <td style="COLOR: black; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif"> 4,966</td> <td style="COLOR: black; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif">  </td> <td style="COLOR: black; FONT: 10pt Times New Roman, Times, Serif">  </td> <td style="COLOR: black; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif">  </td> <td style="COLOR: black; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif"> 5,185</td> <td style="COLOR: black; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif">  </td> <td style="COLOR: black; FONT: 10pt Times New Roman, Times, Serif">  </td> <td style="COLOR: black; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif">  </td> <td style="COLOR: black; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif"> 5,234</td> <td style="COLOR: black; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt"> </td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt"> </td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt"> </td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt"> </td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">  </td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt"> </td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt"> </td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right"> </td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">  </td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt"> </td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">  </td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt"> </td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt"> </td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt"> </td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt"> </td> <td style="COLOR: black; PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif">  </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif">  </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif"> 5.88%</td> <td style="COLOR: black; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif">  </td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt"> </td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt"> </td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right"> </td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">  </td> <td style="COLOR: black; PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif">  </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> $</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif"> 11,052</td> <td style="COLOR: black; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif">  </td> <td style="COLOR: black; PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif">  </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> $</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif"> 11,157</td> <td style="COLOR: black; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif">  </td> </tr> </table> <p style="COLOR: red; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"> <strong> </strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"> <em>Principal Maturities</em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in; TEXT-INDENT: 0.25in">  </p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in; TEXT-INDENT: 0.25in"> The following table, based on the initial terms of the mortgages, sets forth their aggregate estimated contractual principal maturities, including balloon payments due at maturity, as of June 30, 2013:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in; TEXT-INDENT: 0.25in">  </p> <table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.25in; WIDTH: 95%" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt"> </td> <td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif" colspan="2">Remainder of 2013</td> <td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif">  </td> <td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif" colspan="2">2014</td> <td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif">  </td> <td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif" colspan="2">2015</td> <td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif">  </td> <td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif" colspan="2">2016</td> <td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif">  </td> <td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif" colspan="2">Total</td> <td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 15%"> Principal maturities</td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 2%">  </td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 1%"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 13%"> 106</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 1%">  </td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 2%">  </td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 1%"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 13%"> 222</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 1%">  </td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 2%">  </td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 1%"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 13%"> 10,724</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 1%">  </td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 2%">  </td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 1%"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 13%"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 1%">  </td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 2%">  </td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 1%"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 13%"> 11,052</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 1%">  </td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in; TEXT-INDENT: 0.25in">  </p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in; TEXT-INDENT: 0.25in"> Libor as of June 30, 2013 was 0.27%. As of June 30, 2013, the estimated fair value of the mortgages payable approximated its carrying value.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in; TEXT-INDENT: 0.25in">  </p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"> <em>Debt Compliance</em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"> <em> </em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in; TEXT-INDENT: 0.25in"> Pursuant to the Company's debt agreements, approximately $0.7 million was held in restricted escrow accounts as of June 30, 2013. Such escrows are subject to release in accordance with the applicable debt agreement for the payment of real estate taxes, insurance and capital improvements, as required. Certain of our debt agreements also contain clauses providing for prepayment penalties and require the maintenance of certain ratios, including debt service coverage. The Company is currently in compliance with respect to all of its debt covenants.</p> </div> </div>falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for mortgage notes payable.No definition available.false0Mortgages PayablefalseMortgages PayableUnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://www.LightstoneREIT.com/role/MortgagesPayable12