Effective

December 31,

December 31,

Property/Project Name

Lender

Rate (a)

2018

2017

Maturity

Harborside Plaza 5 (b)

The Northwestern Mutual Life Insurance Co.

%

$

 -

$



& New York Life Insurance Co.

23 Main Street (c)

Berkadia CMBS

%

 -

One River Center (d)

Guardian Life Insurance Co.

%

 -

Park Square (e)

Wells Fargo Bank N.A.

LIBOR+1.87

%

04/10/19

250 Johnson (f)

M&T Bank

LIBOR+2.35

%

05/20/19

Port Imperial 4/5 Hotel (g)

Fifth Third Bank & Santander

LIBOR+4.50

%

10/06/19

Worcester (h)

Citizens Bank

LIBOR+2.50

%

12/10/19

Monaco (i)

The Northwestern Mutual Life Insurance Co.

%

02/01/21

Port Imperial South 4/5 Retail

American General Life & A/G PC

%

12/01/21

Portside 7

CBRE Capital Markets/FreddieMac

%

08/01/23

Alterra I & II

Capital One/FreddieMac

%

02/01/24

The Chase at Overlook Ridge

New York Community Bank

%

01/01/25

Portside 5/6 (j)

New York Life Insurance Company

%

03/10/26

Marbella

New York Life Insurance Company

%

 -

08/10/26

101 Hudson

Wells Fargo CMBS

%

10/11/26

Short Hills Portfolio (k)

Wells Fargo CMBS

%

04/01/27

150 Main St.

Natixis Real Estate Capital LLC

%

08/05/27

Port Imperial South 11  (l)

The Northwestern Mutual Life Insurance Co.

%

01/10/29

Port Imperial South 4/5 Garage

American General Life & A/G PC

%

12/01/29



Principal balance outstanding

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 8, 2018, the Company prepaid this loan in full upon payment of a fee of approximately $8.4 million using borrowings from the Company's unsecured revolving credit facility.

(c)

On March 1, 2018, the Company prepaid this loan in full upon payment of a fee of approximately $0.1 million using borrowings from the Company's unsecured revolving credit facility.

(d)

Mortgage was collateralized by the three properties comprising One River Center. On March 29, 2018, the Company prepaid this loan in full upon payment of a fee of approximately $1.8 million using borrowings from the Company's unsecured revolving credit facility.

(e)

On January 16, 2019, the loan was repaid using proceeds from the disposition of Park Square.

(f)

This construction loan has a maximum borrowing capacity of $42 million and provides, subject to certain conditions, a one-year extension option with a fee of 25 basis points. 

(g)

This construction loan has a maximum borrowing capacity of $94 million and provides, subject to certain conditions, two one-year extension options with a fee of 20 basis points for each year.  See Note 12: Commitments and Contingencies - Construction Projects.

(h)

This construction loan has a maximum borrowing capacity of $58 million and provides, subject to certain conditions, two one-year extension options with a fee of 15 basis points each year.

(i)

This mortgage loan, which includes unamortized fair value adjustment of $3.4 million as of December 31, 2018, was assumed by the Company in April 2017 with the acquisition and consolidation of all the interests in the Monaco Towers property.

(j)

On December 7, 2018, the Company refinanced this loan, due to which unamortized deferred financing costs of $0.2 million pertaining to the initial loan were written off.  Concurrent with the refinancing, the Company repaid in full the property's $70 million construction loan and obtained a new loan in the amount of $97 million.

(k)

This mortgage loan was obtained by the Company in March 2017 to partially fund the acquisition of the Short Hills/Madison portfolio.

(l)

On December 17, 2018, the Company refinanced this loan, due to which unamortized deferred financing costs of $0.3 million pertaining to the initial loan were written off.  Concurrent with the refinancing, the Company repaid in full the property's $70.1 million construction loan and obtained a new loan in the amount of $100 million.







Effective

December 31,

December 31,

Property/Project Name

Lender

Rate (a)

2018

2017

Maturity

Harborside Plaza 5 (b)

The Northwestern Mutual Life Insurance Co.

%

$

 -

$



& New York Life Insurance Co.

23 Main Street (c)

Berkadia CMBS

%

 -

One River Center (d)

Guardian Life Insurance Co.

%

 -

Park Square (e)

Wells Fargo Bank N.A.

LIBOR+1.87

%

04/10/19

250 Johnson (f)

M&T Bank

LIBOR+2.35

%

05/20/19

Port Imperial 4/5 Hotel (g)

Fifth Third Bank & Santander

LIBOR+4.50

%

10/06/19

Worcester (h)

Citizens Bank

LIBOR+2.50

%

12/10/19

Monaco (i)

The Northwestern Mutual Life Insurance Co.

%

02/01/21

Port Imperial South 4/5 Retail

American General Life & A/G PC

%

12/01/21

Portside 7

CBRE Capital Markets/FreddieMac

%

08/01/23

Alterra I & II

Capital One/FreddieMac

%

02/01/24

The Chase at Overlook Ridge

New York Community Bank

%

01/01/25

Portside 5/6 (j)

New York Life Insurance Company

%

03/10/26

Marbella

New York Life Insurance Company

%

 -

08/10/26

101 Hudson

Wells Fargo CMBS

%

10/11/26

Short Hills Portfolio (k)

Wells Fargo CMBS

%

04/01/27

150 Main St.

Natixis Real Estate Capital LLC

%

08/05/27

Port Imperial South 11  (l)

The Northwestern Mutual Life Insurance Co.

%

01/10/29

Port Imperial South 4/5 Garage

American General Life & A/G PC

%

12/01/29



Principal balance outstanding

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 8, 2018, the Company prepaid this loan in full upon payment of a fee of approximately $8.4 million using borrowings from the Company's unsecured revolving credit facility.

(c)

On March 1, 2018, the Company prepaid this loan in full upon payment of a fee of approximately $0.1 million using borrowings from the Company's unsecured revolving credit facility.

(d)

Mortgage was collateralized by the three properties comprising One River Center. On March 29, 2018, the Company prepaid this loan in full upon payment of a fee of approximately $1.8 million using borrowings from the Company's unsecured revolving credit facility.

(e)

On January 16, 2019, the loan was repaid using proceeds from the disposition of Park Square.

(f)

This construction loan has a maximum borrowing capacity of $42 million and provides, subject to certain conditions, a one-year extension option with a fee of 25 basis points. 

(g)

This construction loan has a maximum borrowing capacity of $94 million and provides, subject to certain conditions, two one-year extension options with a fee of 20 basis points for each year.  See Note 12: Commitments and Contingencies - Construction Projects.

(h)

This construction loan has a maximum borrowing capacity of $58 million and provides, subject to certain conditions, two one-year extension options with a fee of 15 basis points each year.

(i)

This mortgage loan, which includes unamortized fair value adjustment of $3.4 million as of December 31, 2018, was assumed by the Company in April 2017 with the acquisition and consolidation of all the interests in the Monaco Towers property.

(j)

On December 7, 2018, the Company refinanced this loan, due to which unamortized deferred financing costs of $0.2 million pertaining to the initial loan were written off.  Concurrent with the refinancing, the Company repaid in full the property's $70 million construction loan and obtained a new loan in the amount of $97 million.

(k)

This mortgage loan was obtained by the Company in March 2017 to partially fund the acquisition of the Short Hills/Madison portfolio.

(l)

On December 17, 2018, the Company refinanced this loan, due to which unamortized deferred financing costs of $0.3 million pertaining to the initial loan were written off.  Concurrent with the refinancing, the Company repaid in full the property's $70.1 million construction loan and obtained a new loan in the amount of $100 million.