Quarterly report pursuant to Section 13 or 15(d)

Mortgages, Loans Payable And Other Obligations (Tables)

v2.4.0.6
Mortgages, Loans Payable And Other Obligations (Tables)
9 Months Ended
Sep. 30, 2012
Debt Disclosure [Abstract]  
Summary Of Mortgages, Loans Payable And Other Obligations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Property Name

Lender

 

Effective
Rate (a)

 

 

 

September 30,
2012

 

December 31,
2011

 

Maturity

2200 Renaissance Boulevard (b)

Wachovia CMBS

 

5.888 

%

 

 

 -

$

16,171 

 

 -

Soundview Plaza (c)

Morgan Stanley Mortgage Capital

 

6.015 

%

 

 

 -

 

15,531 

 

 -

One Grande Commons (d)

Capital One Bank                    

LIBOR+2.00

%

 

$

11,000 

 

11,000 

 

12/31/12

9200 Edmonston Road

Principal Commercial Funding L.L.C.

 

5.534 

%

 

 

4,349 

 

4,479 

 

05/01/13

6305 Ivy Lane

John Hancock Life Insurance Co.

 

5.525 

%

 

 

6,064 

 

6,245 

 

01/01/14

395 West Passaic

State Farm Life Insurance Co.

 

6.004 

%

 

 

10,396 

 

10,781 

 

05/01/14

6301 Ivy Lane

John Hancock Life Insurance Co.

 

5.520 

%

 

 

5,739 

 

5,899 

 

07/01/14

35 Waterview Boulevard

Wachovia CMBS

 

6.348 

%

 

 

18,826 

 

19,051 

 

08/11/14

6 Becker, 85 Livingston,

Wachovia CMBS

 

10.220 

%

 

 

62,867 

 

62,127 

 

08/11/14

75 Livingston &

 

 

 

 

 

 

 

 

 

 

 

20 Waterview

 

 

 

 

 

 

 

 

 

 

 

4 Sylvan

Wachovia CMBS

 

10.190 

%

 

 

14,473 

 

14,438 

 

08/11/14

10 Independence

Wachovia CMBS

 

12.440 

%

 

 

16,161 

 

15,908 

 

08/11/14

4 Becker

Wachovia CMBS

 

9.550 

%

 

 

38,148 

 

37,769 

 

05/11/16

5 Becker

Wachovia CMBS

 

12.830 

%

 

 

12,391 

 

12,056 

 

05/11/16

210 Clay

Wachovia CMBS

 

13.420 

%

 

 

12,162 

 

11,844 

 

05/11/16

51 Imclone

Wachovia CMBS

 

8.390 

%

 

 

3,880 

 

3,886 

 

05/11/16

Various (e)

Prudential Insurance

 

6.332 

%

 

 

149,715 

 

150,000 

 

01/15/17

23 Main Street

JPMorgan CMBS

 

5.587 

%

 

 

30,586 

 

31,002 

 

09/01/18

Harborside Plaza 5

The Northwestern Mutual Life

 

6.842 

%

 

 

229,281 

 

231,603 

 

11/01/18

 

Insurance Co. & New York Life

 

 

 

 

 

 

 

 

 

 

 

Insurance Co.

 

 

 

 

 

 

 

 

 

 

100 Walnut Avenue

Guardian Life Insurance Co.

 

7.311 

%

 

 

19,080 

 

19,241 

 

02/01/19

One River Center (f)

Guardian Life Insurance Co.

 

7.311 

%

 

 

43,710 

 

44,079 

 

02/01/19

581 Main Street (g)

Valley National Bank

 

6.935 

%

(h)

 

16,112 

 

16,338 

 

07/01/34

 

 

 

 

 

 

 

 

 

 

 

 

Total mortgages, loans payable and other obligations

 

 

 

 

$

704,940 

$

739,448 

 

 

 

(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 March 28, 2012, the Company transferred the deed for 2200 Renaissance Boulevard to the lender in satisfaction of its obligations.  See Note 7: Discontinued Operations. 

(c)

On September 4, 2012, the Company repaid this mortgage loan at par, using borrowings under the Company’s unsecured revolving credit facility. 

(d)

The mortgage loan has two one-year extension options, subject to certain conditions and the payment of a fee. 

(e)

Mortgage is collateralized by seven properties.  The Operating Partnership has agreed, subject to certain conditions, to guarantee repayment of a portion of the loan. 

(f)

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

(g)

The Operating Partnership has agreed, subject to certain conditions, to guarantee repayment of a portion of the loan. 

(h)

The coupon interest rate will be reset at the end of year 10 (2019) and year 20 (2029) at 225 basis points over the 10-year treasury yield 45 days prior to the reset dates with a minimum rate of 6.875 percent.