Effective

December 31,

December 31,

Property/Project Name

Lender

Rate (a)

2016

2015

Maturity

Port Imperial South (b)

Wells Fargo Bank N.A.

LIBOR+1.75

%

 -

$

-

6 Becker, 85 Livingston,

75 Livingston & 20 Waterview (c)

Wells Fargo CMBS

%

 -

-

9200 Edmonston Road (d)

Principal Commercial Funding L.L.C.

%

 -

-

Various (e)   

Prudential Insurance

%

 -

-

4 Becker (f)

Wells Fargo CMBS

%

 -

-

100 Walnut Avenue (g)

Guardian Life Insurance Co.

%

 -

-

150 Main St. (h)

Webster Bank

LIBOR+2.35

%

$

03/30/17

Curtis Center (i)

CCRE & PREFG

LIBOR+5.912

%

10/09/17

23 Main Street

JPMorgan CMBS

%

09/01/18

Port Imperial 4/5 Hotel (j)

Fifth Third Bank & Santander

LIBOR+4.50

%

 -

10/06/18

Harborside Plaza 5

The Northwestern Mutual Life

%

11/01/18



Insurance Co. & New York Life



Insurance Co.

Chase II (k)

Fifth Third Bank

LIBOR+2.25

%

 -

12/16/18

One River Center (l)

Guardian Life Insurance Co.

%

02/01/19

Park Square

Wells Fargo Bank N.A.

LIBOR+1.872

%

(m)

04/10/19

250 Johnson

M&T Bank

LIBOR+2.35

%

 -

05/20/19

Port Imperial South 11 (n)

JPMorgan Chase

LIBOR+2.35

%

 -

11/24/19

Port Imperial South 4/5 Retail

American General Life & A/G PC

%

12/01/21

The Chase at Overlook Ridge

New York Community Bank

%

 -

02/01/23

Portside 7 (o)

CBRE Capital Markets/

%

 -

08/01/23



FreddieMac

101 Hudson (p)

Wells Fargo CMBS

%

(q)

 -

10/11/26

Port Imperial South 4/5 Garage

American General Life & A/G PC

%

12/01/29



Principal balance outstanding

Adjustment for unamortized debt discount

 -

Unamortized deferred financing costs



Total mortgages, loans payable and other obligations, net

$

$





(a)

Reflects effective rate of debt, including deferred financing costs, comprised of the cost of terminated treasury lock agreements (if any), debt initiation costs, mark-to-market adjustment of acquired debt and other transaction costs, as applicable.

(b)

On January 19, 2016, the loan was repaid in full at maturity, using borrowings from the Company's unsecured revolving credit facility.

(c)

On April 22, 2016, the loan was repaid at a discount for $51.5 million, using borrowings from the Company's unsecured revolving credit facility.  Accordingly, the Company recognized a gain on extinguishment of debt of $12.4 million, which is included in loss on extinguishment of debt, net.

(d)

On May 5, 2016, the Company transferred the deed for 9200 Edmonston Road to the lender in satisfaction of its obligations and recorded a gain of $0.2 million.

(e)

On November 16, 2016, the loan was repaid in full, using borrowings from the Company's unsecured revolving credit facility.

(f)

On December 5, 2016, the Company transferred the deed for 4 Becker Farm Road to the lender in satisfaction of its obligations and recorded a gain of $10.4  million.

(g)

On December 22, 2016, the loan was repaid at a premium, using proceeds from the disposition of 100 Walnut Avenue.  Accordingly, the Company recognized a loss on extinguishment of debt of $2.3 million, which is included in loss on extinguishment of debt, net.

(h)

This construction loan has a maximum borrowing capacity of $28.8 million. 

(i)

The Company owns a 50 percent tenants-in-common interest in the Curtis Center property.  The Company’s $75 million loan consists of its 50 percent interest in a $102 million senior loan with a current rate of 3.998 percent at December 31, 2016 and its 50 percent interest in a $48 million mezzanine loan with a current rate of 10.204 percent at December 31, 2016.  The senior loan rate is based on a floating rate of one-month LIBOR plus 329 basis points and the mezzanine loan rate is based on a floating rate of one-month LIBOR plus 950 basis points.  The Company has entered into LIBOR caps for the periods of the loans.  In October 2016, the first of three one-year extension options was exercised by the venture.

(j)

This construction loan has a maximum borrowing capacity of $94 million.

(k)

This construction loan has a maximum borrowing capacity of $48 million.

(l)

Mortgage is collateralized by the three properties comprising One River Center. 

(m)

The effective interest rate includes amortization of deferred financing costs of 0.122 percent.

(n)

This constuction loan has a maximum borrowing capacity of $78 million.

(o)

This mortgage loan was obtained by the Company in July 2016 to replace a $42.5 million mortgage loan that was in place at the property acquisition date of April 1, 2016.

(p)

This mortgage loan was obtained by the Company on September 30, 2016. 

(q)

The effective interest rate includes amortization of deferred financing costs of 0.0798 percent.









Effective

December 31,

December 31,

Property/Project Name

Lender

Rate (a)

2016

2015

Maturity

Port Imperial South (b)

Wells Fargo Bank N.A.

LIBOR+1.75

%

 -

$

-

6 Becker, 85 Livingston,

75 Livingston & 20 Waterview (c)

Wells Fargo CMBS

%

 -

-

9200 Edmonston Road (d)

Principal Commercial Funding L.L.C.

%

 -

-

Various (e)   

Prudential Insurance

%

 -

-

4 Becker (f)

Wells Fargo CMBS

%

 -

-

100 Walnut Avenue (g)

Guardian Life Insurance Co.

%

 -

-

150 Main St. (h)

Webster Bank

LIBOR+2.35

%

$

03/30/17

Curtis Center (i)

CCRE & PREFG

LIBOR+5.912

%

10/09/17

23 Main Street

JPMorgan CMBS

%

09/01/18

Port Imperial 4/5 Hotel (j)

Fifth Third Bank & Santander

LIBOR+4.50

%

 -

10/06/18

Harborside Plaza 5

The Northwestern Mutual Life

%

11/01/18



Insurance Co. & New York Life



Insurance Co.

Chase II (k)

Fifth Third Bank

LIBOR+2.25

%

 -

12/16/18

One River Center (l)

Guardian Life Insurance Co.

%

02/01/19

Park Square

Wells Fargo Bank N.A.

LIBOR+1.872

%

(m)

04/10/19

250 Johnson

M&T Bank

LIBOR+2.35

%

 -

05/20/19

Port Imperial South 11 (n)

JPMorgan Chase

LIBOR+2.35

%

 -

11/24/19

Port Imperial South 4/5 Retail

American General Life & A/G PC

%

12/01/21

The Chase at Overlook Ridge

New York Community Bank

%

 -

02/01/23

Portside 7 (o)

CBRE Capital Markets/

%

 -

08/01/23



FreddieMac

101 Hudson (p)

Wells Fargo CMBS

%

(q)

 -

10/11/26

Port Imperial South 4/5 Garage

American General Life & A/G PC

%

12/01/29



Principal balance outstanding

Adjustment for unamortized debt discount

 -

Unamortized deferred financing costs



Total mortgages, loans payable and other obligations, net

$

$





(a)

Reflects effective rate of debt, including deferred financing costs, comprised of the cost of terminated treasury lock agreements (if any), debt initiation costs, mark-to-market adjustment of acquired debt and other transaction costs, as applicable.

(b)

On January 19, 2016, the loan was repaid in full at maturity, using borrowings from the Company's unsecured revolving credit facility.

(c)

On April 22, 2016, the loan was repaid at a discount for $51.5 million, using borrowings from the Company's unsecured revolving credit facility.  Accordingly, the Company recognized a gain on extinguishment of debt of $12.4 million, which is included in loss on extinguishment of debt, net.

(d)

On May 5, 2016, the Company transferred the deed for 9200 Edmonston Road to the lender in satisfaction of its obligations and recorded a gain of $0.2 million.

(e)

On November 16, 2016, the loan was repaid in full, using borrowings from the Company's unsecured revolving credit facility.

(f)

On December 5, 2016, the Company transferred the deed for 4 Becker Farm Road to the lender in satisfaction of its obligations and recorded a gain of $10.4  million.

(g)

On December 22, 2016, the loan was repaid at a premium, using proceeds from the disposition of 100 Walnut Avenue.  Accordingly, the Company recognized a loss on extinguishment of debt of $2.3 million, which is included in loss on extinguishment of debt, net.

(h)

This construction loan has a maximum borrowing capacity of $28.8 million. 

(i)

The Company owns a 50 percent tenants-in-common interest in the Curtis Center property.  The Company’s $75 million loan consists of its 50 percent interest in a $102 million senior loan with a current rate of 3.998 percent at December 31, 2016 and its 50 percent interest in a $48 million mezzanine loan with a current rate of 10.204 percent at December 31, 2016.  The senior loan rate is based on a floating rate of one-month LIBOR plus 329 basis points and the mezzanine loan rate is based on a floating rate of one-month LIBOR plus 950 basis points.  The Company has entered into LIBOR caps for the periods of the loans.  In October 2016, the first of three one-year extension options was exercised by the venture.

(j)

This construction loan has a maximum borrowing capacity of $94 million.

(k)

This construction loan has a maximum borrowing capacity of $48 million.

(l)

Mortgage is collateralized by the three properties comprising One River Center. 

(m)

The effective interest rate includes amortization of deferred financing costs of 0.122 percent.

(n)

This constuction loan has a maximum borrowing capacity of $78 million.

(o)

This mortgage loan was obtained by the Company in July 2016 to replace a $42.5 million mortgage loan that was in place at the property acquisition date of April 1, 2016.

(p)

This mortgage loan was obtained by the Company on September 30, 2016. 

(q)

The effective interest rate includes amortization of deferred financing costs of 0.0798 percent.