Mortgages Payable (Tables) - Mortgages payable

12 Months Ended

Dec. 31, 2022

Debt

Summary of mortgages payable

The following table summarizes our mortgages payable as of December 31, 2022 and 2021 (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
December 31, 2022	136	4.8	%	3.3	%	1.4	$	842,343	$	11,582	$	853,925
December 31, 2021	267	4.8	%	3.5	%	1.8	$	1,114,129	$	27,866	$	1,141,995

(1)At December 31, 2022, there were 18 mortgages on 136 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 December 31, 2022 and December 31, 2021, all mortgages were at fixed interest rates.

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

(3) Effective interest rates ranged from 2.7% to 6.6% and 2.6% to 6.0% at December 31, 2022 and 2021, respectively.

Schedule of maturity of debt, net

The following table summarizes the maturity of mortgages payable, excluding net premiums of $12.4 million and deferred financing costs of $0.8 million as of December 31, 2022 (dollars in millions):

Year of Maturity	Principal
2023	$	22.0
2024	740.5
2025	42.0
2026	12.0
2027	22.3
Thereafter	3.5
Totals	$	842.3