Debt Financing (Tables)

3 Months Ended

Mar. 31, 2018

The following table describes the Company’s debt outstanding at March 31, 2018 and December 31, 2017 (in thousands, except percentages):



Description	Origination or Assumption Date	Maturity Date		Interest Rate Description	Interest Rate as of March 31, 2018			Principal Outstanding at March 31, 2018			Principal Outstanding at December 31, 2017
Secured Mortgage Debt
100 Brookes	7/13/2012	1/31/2018	⁽¹⁾	Variable	N/A			$	—		$	28,098
Poland Logistics Portfolio	8/2/2012	6/28/2019		Variable, subject to interest rate cap	2.00	%		72,851			71,183
Minneapolis Retail Center	8/2/2012	8/10/2019		Fixed	3.50	%		65,500			65,500
825 Ann	11/16/2012	11/20/2018		Variable, subject to interest rate cap	2.53	%		62,218			63,247
465 Victoria	2/28/2013	12/3/2018		Variable, subject to interest rate cap	3.06	%		40,853			41,528
New City	3/28/2013	4/18/2018	⁽²⁾	Variable	2.30	%		82,546			80,831
One Westferry Circus	5/9/2013	5/5/2020	⁽³⁾	Fixed	3.30	%		67,238			64,757
The Campus at Playa Vista	5/14/2013	12/1/2018		Variable	3.07	%		150,000			150,000
Perspective Défense	6/21/2013	7/25/2019		Variable, subject to interest rate cap	2.17	%		86,247			83,853
Fiege Mega Centre	10/18/2013	10/31/2018		Variable, subject to interest rate cap	1.37	%		27,574			26,898
25 Cabot Square	3/26/2014	3/26/2020		Fixed	3.50	%		173,349			166,951
Simon Hegele Logistics	4/28/2014	6/15/2019		Fixed	1.90	%		42,988			41,904
818 Bourke	10/31/2014	10/31/2019		Variable, subject to interest rate cap	2.58	%		64,495			65,562
The Summit	3/4/2015	4/1/2022		Variable	3.22	%		170,000			170,000
Harder Logistics Portfolio	4/1/2015	2/28/2021		Variable, subject to interest rate cap	0.95	%		83,057			81,068
Other Notes Payable
JPMorgan Chase Revolving Credit Facility - Revolving Loan	4/13/2012	6/29/2019		Variable	3.37	%	⁽⁴⁾	208,000			99,000
JPMorgan Chase Revolving Credit Facility - Term Loan	5/22/2013	6/29/2019		Variable	3.33	%		495,000			495,000
WaterWall Place Loan	6/29/2012	5/8/2018	⁽⁵⁾	Variable	3.27	%		44,897			44,897
Total Principal Outstanding								$	1,936,813		$	1,840,277
Unamortized Deferred Financing Fees								$	(4,638	)	$	(5,324	)
Notes Payable, net								$	1,932,175		$	1,834,953


(1)	In January 2018, the Company paid off the secured mortgage loan related to 100 Brookes in full.


(2)	In April 2018, the loan was amended and the maturity date was extended to March 18, 2021.


(3)	The Company paid off the secured mortgage loan in full with proceeds from the sale of the property in April 2018.


(4)	Represents the weighted average interest rate as of March 31, 2018


(5)	In May 2018, the loan was amended and the maturity date was extended to November 8, 2018.

Schedule Of Maturities Of Long Term Debt

The Company is required to make the following principal payments on its outstanding notes payable for the period from April 1, 2018 through December 31, 2018, for each of the years ending December 31, 2019 through December 31, 2022 and for the period thereafter (in thousands):



	Payments due by Year
	April 1, 2018 through December 31, 2018			2019		2020			2021		2022		Thereafter
Principal payments	$	412,527	⁽¹⁾	$	1,032,915	$	241,886	⁽²⁾	$	79,485	$	170,000	$	—


(1)	In April 2018, the secured mortgage loan related to New City was amended and the maturity date was extended to March 18, 2021.


(2)	In April 2018, the Company paid off the secured mortgage loan related to One Westferry Circus in full, upon the sale of the property.