| Summary Of Mortgages, Loans Payable And Other Obligations |
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December 31,
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Property Name
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Lender
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Effective
Rate (a)
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2012
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2011
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Maturity
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2200 Renaissance Boulevard (b)
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Wachovia CMBS
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5.888
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%
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-
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$
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16,171
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-
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Soundview Plaza (c)
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Morgan Stanley Mortgage Capital
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6.015
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%
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-
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15,531
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-
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One Grande Commons (d)
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Capital One Bank
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LIBOR+2.00
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%
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-
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11,000
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-
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581 Main Street (e)
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Valley National Bank
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6.935
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%
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-
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16,338
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-
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Port Imperial South (h)
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Wells Fargo Bank N.A.
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LIBOR+2.75
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%
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$
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42,168
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-
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03/23/13
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9200 Edmonston Road
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Principal Commercial Funding L.L.C.
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5.534
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%
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4,305
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4,479
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05/01/13
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Port Imperial South 4/5 (h)
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Wells Fargo Bank N.A.
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LIBOR+3.50
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%
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34,889
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-
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09/30/13
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6305 Ivy Lane
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John Hancock Life Insurance Co.
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5.525
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%
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5,984
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6,245
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01/01/14
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395 West Passaic
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State Farm Life Insurance Co.
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6.004
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%
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10,231
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10,781
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05/01/14
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6301 Ivy Lane
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John Hancock Life Insurance Co.
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5.520
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%
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5,667
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5,899
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07/01/14
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35 Waterview Boulevard
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Wachovia CMBS
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6.348
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%
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18,746
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19,051
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08/11/14
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6 Becker, 85 Livingston,
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Wachovia CMBS
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10.220
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%
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63,126
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62,127
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08/11/14
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75 Livingston &
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20 Waterview
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4 Sylvan
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Wachovia CMBS
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10.190
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%
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14,485
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14,438
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08/11/14
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10 Independence
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Wachovia CMBS
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12.440
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%
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16,251
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15,908
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08/11/14
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4 Becker
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Wachovia CMBS
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9.550
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%
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38,274
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37,769
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05/11/16
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5 Becker
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Wachovia CMBS
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12.830
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%
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12,507
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12,056
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05/11/16
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210 Clay
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Wachovia CMBS
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13.420
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%
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12,275
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11,844
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05/11/16
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51 Imclone
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Wachovia CMBS
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8.390
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%
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3,878
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3,886
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05/11/16
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Various (f)
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Prudential Insurance
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6.332
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%
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149,281
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150,000
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01/15/17
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23 Main Street
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JPMorgan CMBS
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5.587
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%
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30,395
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31,002
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09/01/18
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Harborside Plaza 5
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The Northwestern Mutual Life
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6.842
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%
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228,481
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231,603
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11/01/18
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Insurance Co. & New York Life
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Insurance Co.
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223 Canoe Brook Road (h)
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The Provident Bank
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4.375
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%
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3,945
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-
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02/01/19
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100 Walnut Avenue
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Guardian Life Insurance Co.
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7.311
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%
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19,025
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19,241
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02/01/19
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One River Center (g)
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Guardian Life Insurance Co.
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7.311
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%
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43,582
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44,079
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02/01/19
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Total mortgages, loans payable and other obligations
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$
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757,495
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$
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739,448
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(a)
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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.
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(b)
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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.
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(c)
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On September 4, 2012, the Company repaid this mortgage loan at par, using borrowings under the Company’s unsecured revolving credit facility.
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(d)
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On November 21, 2012, the Company repaid this mortgage loan at par, using proceeds from the sale of senior unsecured notes on November 20, 2012.
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(e)
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On November 20, 2012, the Company repaid this mortgage loan, including a prepayment premium, using proceeds from the sale of senior unsecured notes on November 20, 2012. In connection with this payoff, the Company recorded approximately $0.5 million as a loss from early extinguishment of debt.
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(f)
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Mortgage is collateralized by seven properties. The Operating Partnership has agreed, subject to certain conditions, to guarantee repayment of a portion of the loan.
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(g)
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Mortgage is collateralized by the three properties comprising One River Center.
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(h)
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Mortgages assumed in connection with the Roseland Transaction. See Note 3: Roseland Transaction.
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| Schedule Of Principal Payments And Related Weighted Average Interest Rates Of Long Term Debt |
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Scheduled
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Principal
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Weighted Avg.
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Amortization
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Maturities
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Total
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Effective Interest Rate of
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Period
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($000’s)
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($000’s)
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($000’s)
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Future Repayments (a)
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2013
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$
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10,887
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$
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181,286
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$
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192,173
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4.36
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%
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2014
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10,185
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335,257
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345,442
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6.82
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%
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2015
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8,634
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150,000
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158,634
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5.40
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%
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2016
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8,425
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273,120
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281,545
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7.16
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%
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2017
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6,423
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391,151
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397,574
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4.12
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%
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Thereafter
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6,195
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841,881
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848,076
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6.38
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%
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Sub-total
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50,749
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2,172,695
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2,223,444
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Adjustment for unamortized debt
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discount/premium and
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mark-to-market, net, as of
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December 31, 2012
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(19,055)
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-
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(19,055)
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Totals/Weighted Average
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$
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31,694
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$
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2,172,695
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$
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2,204,389
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5.86
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%
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(a) The actual weighted average LIBOR rate for the Company’s outstanding variable rate debt was 0.23 percent as of December 31, 2012.
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