Quarterly report pursuant to sections 13 or 15(d)

Mortgage Loans Payable (Tables)

v2.4.0.6
Mortgage Loans Payable (Tables)
9 Months Ended
Sep. 30, 2012
Summary of Mortgage Loans Payable

The Company’s mortgage loans payable consist of the following:

 

     September 30,
2012
     December 31,
2011
 
     (unaudited)         

Mortgage term loan (The Shoppes at Eagle Harbor); payable in monthly principal and interest installments of $30,863; interest rate fixed at 6.20%; secured by real estate; matured April 2012 and was extended to December 30, 2012 to accommodate the renewal process.

   $ 3,935,688       $ 4,024,629   

Mortgage term loan (Monarch Bank Building); interest only payable monthly at a fixed rate of 7.00%; secured by real estate; matures December 2012.

     2,044,462         2,044,462   

Mortgage term loan (Amscot Building); payable in monthly principal and interest installments of $4,634; interest rate fixed at 6.50%; secured by real estate; matures April 2014.

     323,193         348,171   

Mortgage term loan (Riversedge North); payable in monthly principal and interest installments of $13,556; interest rate fixed at 6.00%; secured by real estate; matures April 2013.

     2,106,890         2,131,678   

Mortgage term loan (Walnut Hill Plaza); payable in monthly principal and interest installments of $25,269; interest rate fixed at 6.75%; secured by real estate; matures April 2014.

     3,543,663         3,587,143   
  

 

 

    

 

 

 

Total Mortgage Loans Payable

   $ 11,953,896       $ 12,136,083   
  

 

 

    

 

 

 
Summary of Company's Scheduled Principal Repayments on Indebtedness

Debt Maturity

The Company’s scheduled principal repayments on indebtedness as of September 30, 2012 are as follows:

 

     Twelve Months Ending
September 30, (unaudited)
 

2013

   $ 8,185,056   

2014

     3,768,840   

2015

     —     

2016

     —     

2017

     —     

Thereafter

     —     
  

 

 

 

Total principal maturities

   $ 11,953,896   
  

 

 

 
Subsidiaries [Member]
 
Summary of Mortgage Loans Payable

The PSF Entities’ mortgage loans payable consist of the following:

 

     September 30,
2012
     December 31,
2011
 
     (unaudited)         

Mortgage term loan (Lumber River Plaza); payable in monthly principal and interest installments of $18,414; interest rate fixed at 5.65%; secured by real estate; matures May 2015.

   $ 3,003,739       $ 3,038,979   

Mortgage term loan (Perimeter Square); payable in monthly principal and interest installments of $28,089; interest rate fixed at 6.38%; secured by real estate; matures June 2016.

     4,335,627         4,376,033   

Mortgage term loan (Shoppes at TJ Maxx); payable in monthly principal and interest installments of $43,931; interest rate fixed at 6.57%; secured by real estate; matures September 2012.

     5,948,004         6,042,235   
  

 

 

    

 

 

 

Total Mortgage Loans Payable

   $ 13,287,370       $ 13,457,247   
  

 

 

    

 

 

 
Summary of Company's Scheduled Principal Repayments on Indebtedness

The PSF Entities’ scheduled principal repayments on indebtedness as of September 30, 2012 are as follows:

 

     Twelve Months Ending
September  30, (unaudited)
 

2013

   $ 6,056,571   

2014

     115,409   

2015

     2,966,734   

2016

     4,148,656   

2017

     —     

Thereafter

     —     
  

 

 

 
   $ 13,287,370