|
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 |
|
|
|
|
|
|
|