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Senior Secured Revolving Credit Facility and Mortgage Loans Secured by Various Hotel Properties (Parenthetical) (Detail) (USD $)
12 Months Ended 12 Months Ended 1 Months Ended 12 Months Ended 1 Months Ended 12 Months Ended 1 Months Ended 12 Months Ended 1 Months Ended 12 Months Ended 1 Months Ended 12 Months Ended
Dec. 31, 2012
Oct. 11, 2012
Fixed Rate Mortgages Four Point Five Seven Percent
Dec. 31, 2012
Fixed Rate Mortgages Four Point Five Seven Percent
Variable Rate
Dec. 31, 2012
Deutsche Bank
Dec. 31, 2012
Deutsche Bank
Variable Rate Senior Secured Revolving Credit Facility
Dec. 31, 2012
Deutsche Bank
Variable Rate Senior Secured Revolving Credit Facility
Minimum
Dec. 31, 2012
Deutsche Bank
Variable Rate Senior Secured Revolving Credit Facility
Maximum
Dec. 31, 2012
Deutsche Bank
Variable Rate Senior Secured Revolving Credit Facility
LIBOR
Apr. 04, 2012
Ge Capital Financing, Inc
Term Loan Facility
Jun. 29, 2012
Bank of the Ozarks
Fixed Rate Mortgages Five Point Seven Five Percent
Dec. 31, 2012
Bank of the Ozarks
Fixed Rate Mortgages Five Point Seven Five Percent
Jun. 29, 2012
Bank of the Ozarks
Fixed Rate Mortgages Five Point Seven Five Percent
LIBOR
Jun. 29, 2012
Bank of the Ozarks
Fixed Rate Mortgages Five Point Seven Five Percent
Interest Rate After Three Years And Thereafter
Dec. 31, 2012
MetaBank
Fixed Rate Mortgages Four Point Nine Five Percent
Feb. 14, 2012
MetaBank
Fixed Rate Mortgages Four Point Nine Five Percent
First two years
Feb. 14, 2012
MetaBank
Fixed Rate Mortgages Four Point Nine Five Percent
Year 3
Feb. 14, 2012
MetaBank
Fixed Rate Mortgages Four Point Nine Five Percent
Years 4 and 5
Dec. 31, 2012
Bank of Cascades
Fixed Rate Mortgages Four Point Six Six Percent
Dec. 31, 2012
Bank of Cascades
Fixed Rate Mortgages Four Point Six Six Percent
Dec. 20, 2012
General Electric Capital Corporation
Dec. 31, 2012
General Electric Capital Corporation
Mar. 02, 2012
General Electric Capital Corporation
Hilton Garden Inn
Mar. 02, 2012
General Electric Capital Corporation
Hilton Garden Inn
Year 3
Mar. 02, 2012
General Electric Capital Corporation
Hilton Garden Inn
Year 2
Mar. 02, 2012
General Electric Capital Corporation
Hilton Garden Inn
LIBOR
Dec. 31, 2012
First National Bank of Omaha
Feb. 13, 2012
Ing Investment Management
Loans Payable
Debt Instrument [Line Items]                                                      
Line of credit maximum borrowing capacity         $ 150,000,000                                            
Interest Rate, Variable         3.00% [1],[2]     0.50%         5.50%                         5.25%  
Debt instrument interest rate effective percentage     3.50%   1.00% 2.25% 2.75%         3.75%           3.00% 3.00%   3.50%       5.28% 4.00%  
Margin rate           1.25% 1.75%                                        
Line of credit facility borrowing base         112,100,000                                            
Line of credit outstanding 58,000,000 [3]       58,000,000                                            
Line of credit facility available for future use         1,300,000                                            
Standby letter of credit       52,800,000                                              
Date on which loan can be called by the lender                                                     Mar. 01, 2019
Date on which loan can be called by the lender                                                     Mar. 01, 2024
Date on which loan can be called by the lender                                                     Mar. 01, 2029
Debt prepayment penalty rate                 1.00%           3.00% 2.00% 1.00%     1.00%     1.00% 2.00%     1.00%
Loan agreement additional amount                   $ 2,500,000                                  
Fixed interest rate, period                   3 years                       3 years          
Debt instrument interest rate stated percentage                     5.75% [1],[4]     4.95% [1],[5]       4.66% [1],[6] 4.66% [1],[6]                
Fixed interest rate maturity date         May 16, 2015           Jul. 10, 2017     Feb. 01, 2017       Sep. 30, 2016 Sep. 30, 2021   Apr. 01, 2017            
Debt instrument convertible effective interest rate   85.00%                                                  
[1] Interest rates at December 31, 2012 give effect to our use of interest rate swaps, where applicable.
[2] This is a $150.0 million facility with Deutsche Bank AG New York Branch as the administrative agent and Deutsche Bank Securities as the lead manager. The syndicate of lenders includes Deutsche Bank, Royal Bank of Canada, KeyBank National Association, Regions Bank, U.S. Bank National Association, and Citibank, N.A. We pay interest on advances at varying rates, based upon, at our option, either (i) 1, 2, 3, or 6-month LIBOR, subject to a floor of 0.50%, plus a LIBOR margin between 2.25% and 2.75%, depending upon the ratio of our outstanding consolidated indebtedness to EBITDA (as defined in the loan documents), or (ii) the applicable base rate, which is the greatest of the administrative agent's prime rate, 0.50% plus the federal funds effective rate, or 1-month LIBOR (incorporating the floor of 0.50%) plus 1.00%, plus a margin between 1.25% and 1.75%, depending upon the ratio of outstanding consolidated indebtedness to EBITDA. Availability under the facility is subject to a borrowing base of properties pledged as collateral and other conditions. At December 31, 2012, the borrowing base was $112.1 million, of which we had $58.0 million borrowed, $1.3 million in standby letters of credit, and $52.8 million available to borrow.
[3] Property is collateral for our draw on secured revolving credit facility.
[4] On June 29, 2012, we refinanced and extended the maturity of this loan. In addition, we borrowed an additional $2.5 million representing the amount available pursuant to the earn-out provision of the loan. The interest rate is fixed for three years, with the rate variable at 90-day LIBOR plus 3.75% with a floor of 5.5% thereafter.
[5] On February 14, 2012, we refinanced and extended the maturity of this loan. The new loan has a prepayment penalty in the first two years of 3%, in year three of 2%, and in years four and five of 1%.
[6] The fixed rate of 4.66% resets on September 30, 2016 to the then-current Federal Home Loan Bank of Seattle Intermediate/Long-Term, Advances Five-year Fixed Rate plus 3.00%.