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Financing Activity (Tables)
6 Months Ended
Jun. 30, 2017
Debt Disclosure [Abstract]  
Schedule of credit facility interest expense [Table Text Block]
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(in thousands of dollars)
2017
 
2016
 
2017
 
2016
2013 Revolving Facility
 
 
 
 
 
 
 
 
 
Interest expense
 
$
645

 
$
782

 
$
1,409

 
$
1,472

 
Deferred financing amortization
 
199

 
199

 
398

 
397

 
 
 
 
 
 
 
 
 
 
Term Loans
 
 
 
 
 
 
 
 
 
Interest expense
 
3,712

 
3,045

 
6,547

 
6,037

 
Deferred financing amortization
 
190

 
121

 
377

 
241

Applicable Credit Spread Over Libor at Various Leverage Levels
 
 
Applicable Margin
 
Level
Ratio of Total Liabilities
to Gross Asset Value
2013 Revolving Facility
 
Term Loans
 
1
Less than 0.450 to 1.00
1.20%
 
1.35%
 
2
Equal to or greater than 0.450 to 1.00 but less than 0.500 to 1.00
1.25%
(1) 
1.45%
(1) 
3
Equal to or greater than 0.500 to 1.00 but less than 0.550 to 1.00
1.30%
 
1.60%
 
4
Equal to or greater than 0.550 to 1.00
1.55%
 
1.90%
 

Carrying and Fair Values of Mortgage Loans
The aggregate carrying values and estimated fair values of mortgage loans based on interest rates and market conditions at June 30, 2017 and December 31, 2016 were as follows:
 
June 30, 2017
 
December 31, 2016
(in millions of dollars)
Carrying Value
 
Fair Value
 
Carrying Value
 
Fair Value
Mortgage loans(1)
$
1,036.6

 
$
1,040.0

 
$
1,222.9

 
$
1,189.6