Mortgages Payable (Tables) - Mortgages payable

6 Months Ended

Jun. 30, 2022

Debt

Summary of mortgages payable

The following table summarizes our mortgages payable as of June 30, 2022, and December 31, 2021, respectively (dollars in thousands):

As Of	Number of Properties (1)	Weighted Average Stated Interest Rate (2)		Weighted Average Effective Interest Rate (3)		Weighted Average Remaining Years Until Maturity	Remaining Principal Balance		Unamortized Premium and Deferred Financing Costs Balance, net		Mortgage Payable Balance
6/30/2022	158	4.8	%	3.3	%	1.8	$	928,943	$	18,169	$	947,112
12/31/2021	267	4.8	%	3.5	%	1.8	$	1,114,129	$	27,866	$	1,141,995

(1)At June 30, 2022, there were 23 mortgages on 158 properties. At December 31, 2021, there were 22 mortgages on 267 properties. With the exception of one Sterling-denominated mortgage which is paid quarterly, the mortgages require monthly payments with principal payments due at maturity. At June 30, 2022, and December 31, 2021, all mortgages were at fixed interest rates.

(2) Stated interest rates ranged from 3.0% to 6.9% at each of June 30, 2022, and December 31, 2021.

(3) Effective interest rates ranged from 2.6% to 6.6% and 2.6% to 6.0% at each of June 30, 2022, and December 31, 2021, respectively.

Schedule of maturity of debt, net

The following table summarizes the maturity of mortgages payable, excluding net premiums of $19.2 million and deferred financing costs of $1.0 million, as of June 30, 2022 (dollars in millions):

Year of Maturity	Principal
2022	$	45.5
2023	62.8
2024	740.5
2025	42.3
2026	11.9
Thereafter	26.0
Totals	$	929.0