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Indebtedness (Tables)
9 Months Ended
Sep. 30, 2013
Indebtedness  
Composition of outstanding indebtedness

 

 

 

September 30,

 

December 31,

 

 

 

2013

 

2012

 

 

 

 

 

 

 

Unsecured revolving credit facility, due in 2015

 

$

69,000

 

$

49,500

 

Unsecured term loan, due in 2017

 

350,000

 

350,000

 

Mortgage note payable, 5.73% interest rate, including unamortized premium of $463, due in 2015(1) 

 

48,607

 

49,274

 

Mortgage note payable, 6.21% interest rate, due in 2016(1) 

 

24,223

 

24,441

 

Mortgage note payable, 7.00% interest rate, including unamortized premium of $782, due in 2019(1) 

 

10,003

 

10,247

 

Mortgage note payable, 8.15% interest rate, including unamortized premium of $556, due in 2021(1) 

 

8,510

 

9,165

 

 

 

$

510,343

 

$

492,627

 

 

(1)       We assumed these mortgages in connection with our acquisitions of certain properties.  The stated interest rates for these mortgage debts are the contractually stated rates.  We recorded the assumed mortgages at estimated fair value on the date of acquisition and we are amortizing the fair value premiums, if any, to interest expense over the respective terms of the mortgages to reduce interest expense to the estimated market interest rates as of the date of acquisition.