Quarterly report pursuant to Section 13 or 15(d)

Loans Payable (Tables)

v3.19.2
Loans Payable (Tables)
6 Months Ended
Jun. 30, 2019
Debt Disclosure [Abstract]  
Schedule of Loans Payable
The Company’s loans payable consist of the following (in thousands, except monthly payment):
Property/Description
 
Monthly Payment
 
Interest
Rate
 
Maturity
 
June 30,
2019
 
December 31, 2018
 Harbor Pointe (1)
 
$
11,024

 
5.85
%
 
December 2018
 
$

 
$
460

 Perimeter Square (1)
 
Interest only

 
6.50
%
 
June 2019
 
6,250

 
6,250

 Perimeter Square construction loan (1)
 
Interest only

 
6.50
%
 
June 2019
 
247

 
247

 Revere Term Loan
 
$
109,658

 
10.00
%
 
April 2019
 

 
1,059

 Senior convertible notes
 
$
234,199

 
9.00
%
 
June 2019
 

 
1,369

 DF I-Moyock
 
$
10,665

 
5.00
%
 
July 2019
 
11

 
73

 Rivergate
 
$
150,001

 
Libor + 295 basis points

 
December 2019
 
21,831

 
22,117

 KeyBank Line of Credit (6)
 
$
250,000

 
Libor + 250 basis points

 
Various (6)
 
34,291

 
52,102

 Folly Road
 
$
32,827

 
4.00
%
 
March 2020
 
5,998

 
6,073

 Columbia Fire Station
 
$
25,452

 
4.00
%
 
May 2020
 
4,120

 
4,189

 Shoppes at TJ Maxx
 
$
33,880

 
3.88
%
 
May 2020
 
5,443

 
5,539

 First National Bank Line of Credit
 
$
24,656

 
Libor + 300 basis points

 
September 2020
 
1,325

 
2,938

 Lumber River
 
$
10,723

 
Libor + 350 basis points

 
October 2020
 
1,427

 
1,448

 JANAF Bravo
 
$
36,935

 
4.65
%
 
January 2021
 
6,442

 
6,500

 Walnut Hill Plaza
 
$
26,850

 
5.50
%
 
September 2022
 
3,814

 
3,868

 Twin City Commons
 
$
17,827

 
4.86
%
 
January 2023
 
3,016

 
3,048

 New Market
 
$
48,747

 
5.65
%
 
June 2023
 
6,811

 
6,907

 Benefit Street Note (3)
 
$
53,185

 
5.71
%
 
June 2023
 
7,466

 
7,567

 Deutsche Bank Note (2)
 
$
33,340

 
5.71
%
 
July 2023
 
5,678

 
5,713

 JANAF
 
$
333,159

 
4.49
%
 
July 2023
 
51,432

 
52,253

 Tampa Festival
 
$
50,797

 
5.56
%
 
September 2023
 
8,153

 
8,227

 Forrest Gallery
 
$
50,973

 
5.40
%
 
September 2023
 
8,455

 
8,529

 Riversedge North
 
$
11,436

 
5.77
%
 
December 2023
 
1,783

 
1,800

 South Carolina Food Lions Note (5)
 
$
68,320

 
5.25
%
 
January 2024
 
11,771

 
11,867

 Cypress Shopping Center
 
$
34,360

 
4.70
%
 
July 2024
 
6,324

 
6,379

 Port Crossing
 
$
34,788

 
4.84
%
 
August 2024
 
6,092

 
6,150

 Freeway Junction
 
$
41,798

 
4.60
%
 
September 2024
 
7,794

 
7,863

 Harrodsburg Marketplace
 
$
19,112

 
4.55
%
 
September 2024
 
3,452

 
3,486

 Graystone Crossing (1)
 
$
20,386

 
4.55
%
 
October 2024
 

 
3,863

 Bryan Station
 
$
23,489

 
4.52
%
 
November 2024
 
4,433

 
4,472

 Crockett Square
 
Interest only

 
4.47
%
 
December 2024
 
6,338

 
6,338

 Pierpont Centre
 
 Interest only

 
4.15
%
 
February 2025
 
8,113

 
8,113

 Alex City Marketplace
 
 Interest only

 
3.95
%
 
April 2025
 
5,750

 
5,750

 Butler Square
 
 Interest only

 
3.90
%
 
May 2025
 
5,640

 
5,640

 Brook Run Shopping Center
 
 Interest only

 
4.08
%
 
June 2025
 
10,950

 
10,950

 Beaver Ruin Village I and II
 
 Interest only

 
4.73
%
 
July 2025
 
9,400

 
9,400

 Sunshine Shopping Plaza
 
 Interest only

 
4.57
%
 
August 2025
 
5,900

 
5,900

 Barnett Portfolio (4)
 
 Interest only

 
4.30
%
 
September 2025
 
8,770

 
8,770

 Fort Howard Shopping Center
 
 Interest only

 
4.57
%
 
October 2025
 
7,100

 
7,100

 Conyers Crossing
 
 Interest only

 
4.67
%
 
October 2025
 
5,960

 
5,960

 Grove Park Shopping Center
 
 Interest only

 
4.52
%
 
October 2025
 
3,800

 
3,800

 Parkway Plaza
 
 Interest only

 
4.57
%
 
October 2025
 
3,500

 
3,500

 Winslow Plaza
 
Interest only

 
4.82
%
 
December 2025
 
4,620

 
4,620

 JANAF BJ's
 
$
29,964

 
4.95
%
 
January 2026
 
5,011

 
5,065

 Chesapeake Square
 
$
23,857

 
4.70
%
 
August 2026
 
4,395

 
4,434

 Berkley/Sangaree/Tri-County
 
Interest only

 
4.78
%
 
December 2026
 
9,400

 
9,400

 Riverbridge
 
Interest only

 
4.48
%
 
December 2026
 
4,000

 
4,000

 Franklin Village
 
Interest only

 
4.93
%
 
January 2027
 
8,516

 
8,516

 Village of Martinsville
 
$
89,664

 
4.28
%
 
July 2029
 
16,500

 

Total Principal Balance (1)
 
 
 
 
 
 
 
357,522

 
369,612

Unamortized debt issuance cost (1)
 
 
 
 
 
 
 
(4,467
)
 
(5,144
)
Total Loans Payable, including Assets Held for Sale
 
 
 
 
 
 
 
353,055

 
364,468

Less loans payable on assets held for sale, net loan amortization costs
 
 
 
 
6,497

 
4,278

Total Loans Payable, net
 
 
 
 
 
 
 
$
346,558

 
$
360,190

(1) Includes loans payable on assets held for sale, see Note 3.
(2) Collateralized by LaGrange Marketplace, Ridgeland and Georgetown.
(3) Collateralized by Ladson Crossing, Lake Greenwood Crossing and South Park.
(4) Collateralized by Cardinal Plaza, Franklinton Square, and Nashville Commons.
(5) Collateralized by Clover Plaza, South Square, St. George, Waterway Plaza and Westland Square.
(6) Collateralized by Darien Shopping Center, Devine Street, Laburnum Square, Lake Murray, Litchfield Market Village, Moncks Corner, Shoppes at Myrtle Park, South Lake and St. Matthews. The various maturity dates are disclosed below within Note 6 under the KeyBank Credit Agreement.
Schedule of Company's scheduled principal repayments on indebtedness
The Company’s scheduled principal repayments on indebtedness as of June 30, 2019, including assets held for sale, are as follows (in thousands, unaudited):
For the remaining six months ended December 31, 2019
$
64,997

December 31, 2020
22,508

December 31, 2021
10,944

December 31, 2022
8,482

December 31, 2023
85,326

December 31, 2024
43,980

Thereafter
121,285

    Total principal repayments and debt maturities
$
357,522