Debt as of March 31, 2014 and December 31, 2013 consisted of the following (dollars in thousands):



			Balance Outstanding as of
	Interest Rate	Maturity Date	March 31, 2014		December 31, 2013
Senior unsecured revolving credit facility	Floating	July 2016	$	—	$	—

Term loan	Floating⁽¹⁾	July 2017	100,000		100,000

Mortgage loans
InterContinental Buckhead	4.88%	January 2016	49,970		50,192
Skamania Lodge	5.44%	February 2016	29,691		29,811
DoubleTree by Hilton Bethesda-Washington DC	5.28%	February 2016	34,967		35,102
Embassy Suites San Diego Bay-Downtown	6.28%	June 2016	65,403		65,725
Hotel Modera	5.26%	July 2016	23,502		23,597
Monaco Washington DC	4.36%	February 2017	44,377		44,580
Argonaut Hotel	4.25%	March 2017	44,853		45,138
Sofitel Philadelphia	3.90%	June 2017	47,904		48,218
Hotel Palomar San Francisco	5.94%	September 2017	26,713		26,802
The Westin San Diego Gaslamp Quarter	3.69%	January 2020	78,680		79,194
Mortgage loans at stated value			446,060		448,359
Mortgage loan premiums ⁽²⁾			5,350		5,888
Total mortgage loans			$	451,410	$	454,247
Total debt			$	551,410	$	554,247

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⁽¹⁾The Company entered into interest rate swaps to effectively fix the interest rate at 2.55% for the full five-year term, based on its current leverage ratio.

⁽²⁾Loan premiums on assumed mortgages recorded in purchase accounting and secured by the leasehold interest on the Hotel Palomar San Francisco, Embassy Suites San Diego Bay - Downtown and Hotel Modera.