| Summary of Loans Payable |
The Company’s loans payable consist of the following:
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Monthly |
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Interest |
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December 31,
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Property/Description
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Payment |
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Rate |
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Maturity |
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2013 |
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2012 |
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| Shoppes at Eagle Harbor |
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$ |
24,692 |
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4.34 |
% |
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March 2018 |
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$ |
3,905,321 |
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$ |
— |
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| Lumber River Plaza |
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$ |
18,414 |
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5.65 |
% |
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May 2015 |
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2,973,987 |
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3,050,117 |
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| Monarch Bank Building |
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$ |
9,473 |
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4.15 |
% |
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December 2017 |
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1,483,230 |
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1,533,346 |
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| Perimeter Square |
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$ |
28,089 |
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6.38 |
% |
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June 2016 |
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4,417,812 |
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4,537,456 |
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| Riversedge North |
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$ |
13,556 |
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6.00 |
% |
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January 2019 |
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2,061,790 |
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2,098,138 |
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| Walnut Hill Plaza |
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$ |
25,269 |
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6.75 |
% |
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April 2014 |
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3,464,465 |
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3,528,232 |
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| Harps at Harbor Point |
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$ |
18,122 |
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3.99 |
% |
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December 2015 |
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3,335,628 |
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3,416,550 |
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| Twin City Commons |
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$ |
17,827 |
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4.86 |
% |
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January 2023 |
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3,330,108 |
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3,375,000 |
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| Shoppes at TJ Maxx |
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$ |
33,880 |
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3.88 |
% |
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May 2020 |
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6,409,077 |
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— |
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| Bixby Commons |
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Interest only |
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2.77 |
% |
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June 2018 |
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6,700,000 |
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— |
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| Bank Line of Credit |
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Interest only |
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4.50 |
% |
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May 2014 |
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2,000,000 |
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— |
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| Forrest Gallery |
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$ |
50,973 |
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5.40 |
% |
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September 2023 |
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9,075,000 |
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— |
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| Jenks Reasors |
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Interest only |
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4.25 |
% |
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September 2016 |
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8,550,000 |
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— |
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| Tampa Festival |
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$ |
50,797 |
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5.56 |
% |
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September 2023 |
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8,859,888 |
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— |
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| Starbucks/Verizon |
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$ |
7,405 |
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6.50 |
% |
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April 2023 |
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621,197 |
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— |
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| Winslow Plaza |
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Interest only |
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5.22 |
% |
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December 2015 |
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5,000,000 |
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— |
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| Senior convertible notes |
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Interest only |
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9.00 |
% |
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December 2018 |
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6,000,000 |
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— |
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| Senior non-convertible notes |
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Interest only |
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9.00 |
% |
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December 2015 |
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4,000,000 |
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— |
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| South Carolina Food Lions Note |
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Interest only |
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5.25 |
% |
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January 2024 |
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12,375,000 |
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— |
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| Shoppes at Eagle Harbor |
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$ |
30,863 |
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6.20 |
% |
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February 2013 |
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— |
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3,904,664 |
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| Shoppes at TJ Maxx |
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Interest only |
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6.00 |
% |
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April 2013 |
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— |
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6,400,000 |
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Total Loans Payable
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$ |
94,562,503 |
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$ |
31,843,503 |
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| Summary of Company's Scheduled Principal Repayments on Indebtedness |
The Company’s scheduled principal repayments on indebtedness
as of December 31, 2013 are as follows:
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For the Years Ending
December 31,
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2014
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$ |
6,423,955 |
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2015
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16,072,979 |
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2016
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13,823,136 |
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2017
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2,586,427 |
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2018
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16,553,214 |
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Thereafter
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39,102,792 |
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Total principal maturities
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$ |
94,562,503 |
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