Indebtedness (Tables)

12 Months Ended

Dec. 31, 2016

Debt Disclosure [Abstract]

Schedule of debt

The Company’s indebtedness was comprised of the following as of December 31, 2016 and 2015 (dollars in thousands):  

							Stated Interest		Stated Maturity
	Principal Balance						Rate		Date
	December 31,						December 31,
	2016			2015			2016
249 Central Park Retail (1)	$	17,076		$	15,282		LIBOR + 1.95%		August 8, 2021
Fountain Plaza Retail (1)	10,281			7,641			LIBOR + 1.95%		August 8, 2021
South Retail (1)	7,493			6,742			LIBOR + 1.95%		August 8, 2021
4525 Main Street (2)	32,034			31,613			3.25	%	September 10, 2021
Encore Apartments (2)	24,966			25,184			3.25	%	September 10, 2021
North Point Center Note 5 (3)	643			664			LIBOR + 2.00%		February 1, 2017
Oyster Point	—			6,400			LIBOR+1.40%-2.00%		February 28, 2017
Harrisonburg Regal	3,256			3,463			6.06	%	June 8, 2017
Commonwealth of Virginia - Chesapeake	4,933			4,933			LIBOR + 1.90%		August 28, 2017
Hanbury Village Note 1	20,709			20,970			6.67	%	October 11, 2017
Lightfoot Marketplace	12,194			7,759			LIBOR + 1.90%		November 14, 2017
Sandbridge Commons	9,376			9,010			LIBOR + 1.85%		January 17, 2018
Southgate Square	21,150			—			LIBOR + 2.00%		April 29, 2021
Columbus Village Note 1 (3)	6,258			6,429			LIBOR + 2.00%		April 5, 2018
Columbus Village Note 2	2,266			2,310			LIBOR + 2.00%		April 5, 2018
Johns Hopkins Village	43,841			3,968			LIBOR + 1.90%		July 30, 2018
North Point Center Note 1	9,776			9,969			6.45	%	February 5, 2019
Revolving credit facility	107,000			74,000			LIBOR+1.40%-2.00%		February 20, 2019
Term loan(3)	50,000			50,000			LIBOR+1.35%-1.95%		February 20, 2020
Term loan	50,000			—			LIBOR+1.35%-1.95%		February 20, 2020
Socastee Commons	4,866			4,957			4.57	%	January 6, 2023
North Point Center Note 2	2,564			2,662			7.25	%	September 15, 2025
Smith's Landing	20,511			21,226			4.05	%	June 1, 2035
Liberty Apartments	20,005			20,312			5.66	%	November 1, 2043
The Cosmopolitan	45,884			46,519			3.75	%	July 1, 2051
Total principal balance	$	527,082		$	382,013
Unamortized fair value adjustments	(1,250		)	(1,287		)
Unamortized debt issuance costs	(3,652		)	(3,133		)
Indebtedness, net	$	522,180		$	377,593

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(1) Cross collateralized.

(2) Cross collateralized.

(3) Subject to an interest rate swap agreement. 

Components of debt

The Company’s indebtedness was comprised of the following fixed and variable-rate debt as of December 31, 2016 and 2015 (in thousands):

	December 31,
	2016		2015
Fixed-rate debt	$	241,472	$	159,743
Variable-rate debt	285,610		222,270
Total principal balance	$	527,082	$	382,013

Scheduled principal repayments and term-loan maturities

Scheduled principal repayments and term-loan maturities during each of the next five years and thereafter are as follows (in thousands):

Year	Scheduled Principal Payments		Term-Loan Maturities		Total Payments
2017	$	3,778	$	41,432	$	45,210
2018	3,655		60,873		64,528
2019	3,485		116,333		119,818
2020	4,482		100,000		104,482
2021	3,588		106,274		109,862
Thereafter	77,615		5,567		83,182
Total	$	96,603	$	430,479	$	527,082