Effective

March 31,

December 31,

Property/Project Name

Lender

Rate (a)

2020

2019

Maturity

Monaco (b)

The Northwestern Mutual Life Insurance Co.

3.15

%

$

166,347

$

166,752 

02/01/21

Port Imperial South 4/5 Retail

American General Life & A/G PC

4.56

%

3,918

3,934 

12/01/21

Port Imperial 4/5 Hotel (c)

Fifth Third Bank

LIBOR+3.40

%

94,000

74,000 

04/09/22

Emery at Overlook Ridge (d)

Fifth Third Bank

LIBOR+2.50

%

42,136

24,064 

05/16/22

Port Imperial South 9 (e)

Bank of New York Mellon

LIBOR+2.13

%

19,624

11,615 

12/19/22

Portside 7

CBRE Capital Markets/FreddieMac

3.57

%

58,998

58,998 

08/01/23

Short Hills Residential (f)

People's United Bank

LIBOR+2.15

%

17,791

9,431 

03/26/23

250 Johnson

Nationwide Life Insurance Company

3.74

%

43,000

43,000 

08/01/24

Liberty Towers (g)

American General Life Insurance Company

3.37

%

265,000

232,000 

10/01/24

The Charlotte (h)

QuadReal Finance

LIBOR+2.70

%

38,361

5,144 

12/01/24

Portside 5/6

New York Life Insurance Company

4.56

%

97,000

97,000 

03/10/26

Marbella

New York Life Insurance Company

4.17

%

131,000

131,000 

08/10/26

Marbella II

New York Life Insurance Company

4.29

%

117,000

117,000 

08/10/26

101 Hudson

Wells Fargo CMBS

3.20

%

250,000

250,000 

10/11/26

Worcester

MUFG Union Bank

LIBOR+1.84

%

63,000

63,000 

12/10/26

Short Hills Portfolio (i)

Wells Fargo CMBS

4.15

%

124,500

124,500 

04/01/27

150 Main St.

Natixis Real Estate Capital LLC

4.48

%

41,000

41,000 

08/05/27

Port Imperial South 11

The Northwestern Mutual Life Insurance Co.

4.52

%

100,000

100,000 

01/10/29

Soho Lofts (j)

New York Community Bank

3.77

%

160,000

160,000 

07/01/29

Riverwatch Commons (j)

New York Community Bank

3.79

%

30,000

30,000 

07/01/29

111 River St.

Athene Annuity and Life Company

3.90

%

150,000

150,000 

09/01/29

Port Imperial South 4/5 Garage

American General Life & A/G PC

4.85

%

32,477

32,600 

12/01/29

Principal balance outstanding

2,045,152

1,925,038 

Unamortized deferred financing costs

(16,807)

(17,004)

Total mortgages, loans payable and other obligations, net

$

2,028,345

$

1,908,034 

(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)

This mortgage loan, which includes unamortized fair value adjustment of $1.3 million as of March 31, 2020, was assumed by the Company in April 2017 with the consolidation of all the interests in Monaco Towers. It is the Company's intention to refinance the existing mortgage at or before maturity and believes it will be able to obtain a new mortgage in excess of the existing balance.

(c)

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

(d)

This construction loan has a maximum borrowing capacity of $62 million and provides, subject to certain conditions, one 18 month extension option with a fee of 25 basis points.

(e)

This construction loan has a maximum borrowing capacity of $92 million and provides, subject to certain conditions, one one year extension option with a fee of 15 basis points.

(f)

This construction loan has a maximum borrowing capacity of $64 million and provides, subject to certain conditions, one 18 month extension option with a fee of 30 basis points

(g)

In January 2020, the Company increased the size of the loan on Liberty Towers to $265 million, generating $33 million of additional proceeds.

(h)

This construction loan has a LIBOR floor of 2.0 percent, has a maximum borrowing capacity of $300 million and provides, subject to certain conditions, one one year extension option with a fee of 25 basis points.

(i)

Properties, which are collateral for this mortgage loan, were classified as held for sale as of December 31, 2019.

(j)

Effective rate reflects the first five years of interest payments at a fixed rate. Interest payments after that period ends are based on LIBOR plus 2.75% annually.