Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2017

Long-Term Debt [Abstract]

Summary Of Long Term Debt

Lender		Balance at September 30, 2017	Interest rate at September 30, 2017	Maturity	Amortization provision	Properties encumbered at September 30, 2017		Balance at December 31, 2016
Fixed rate debt
Great Western Bank (1)	$	14,064	4.33%	12/2021	25 years	1	$	14,326
Great Western Bank (1)		1,448	4.33%	12/2021	7 years	-		1,599
Morgan Stanley Bank of America Merrill Lynch Trust 2014-C18		9,029	4.54%	08/2024	25 years	1		-
Western Alliance Bank		-	-	-	-	-		4,806
Western Alliance Bank		-	-	-	-	-		2,803
Cantor Commercial Real Estate Lending		-	-	-	-	-		5,713
Morgan Stanley Mortgage Capital Holdings, LLC		-	-	-	-	-		912
Total fixed rate debt		24,541						30,159
Variable rate debt
Western Alliance Bank		4,797	4.55% (2)	11/2020	25 years	1		4,882
Western Alliance Bank		9,695	4.55% (2)	11/2020	25 years	1		9,863
KeyBank credit facility (3)		89,861	3.74% (4)	03/2020	Interest only	14		-
The Huntington National Bank		-	-	-	-	-		7,361
LMREC 2015 - CREI, Inc. (Latitude)		-	-	-	-	-		11,124
Total variable rate debt		104,353				18		33,230
Total long-term debt	$	128,894					$	63,389
Less: Deferred financing costs		(3,218)						(669)
Total long-term debt, net of deferred financing costs		125,676						62,720
Less: Long-term debt related to hotel properties held for sale, net of deferred financing costs of $233 and $168		(7,289)						(14,802)
Long-term debt related to hotel properties held for use, net of deferred financing costs of $2,985 and $501	$	118,387					$	47,918

(1) Both loans are collateralized by Aloft Leawood

(2)  90-day LIBORplus3.25%

(3) Total unused availability under this credit facility was $8,309at September 30, 2017; commitment fee on unused facility is 0.20%

(4) Borrowings under the facility accrue interest based on a leverage-based pricing grid, at the Company’s option, at either LIBOR plus a spread ranging from 2.25% to 3.00% (depending on leverage) or a base rate plus a spread ranging from 1.25% to 2.00% (depending on leverage);  30-day LIBOR for $50,000 notional capped at 2.5% after giving effect to market rate cap (see Note 8)

Aggregate Annual Principal Payments On Debt Associated With Assets Held For Use And Held For Sale

	Held for sale		Held for use		Total
Remainder of 2017	$	-	$	255	$	255
2018		-		1,043		1,043
2019		-		1,091		1,091
2020		7,522		96,857		104,379
2021		-		13,868		13,868
Thereafter		-		8,258		8,258
Total	$	7,522	$	121,372	$	128,894