| Summary of Loans Payable |
The Company’s loans payable consist of the following:
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Property/Description |
Monthly Payment |
|
Interest
Rate
|
|
Maturity |
|
September 30, 2016 |
|
December 31, 2015 |
|
|
|
|
|
|
|
(unaudited) |
|
|
Shoppes at Eagle Harbor |
$ |
25,100 |
|
|
4.34 |
% |
|
March 2018 |
|
$ |
3,528,895 |
|
|
$ |
3,634,085 |
|
Monarch Bank Building |
$ |
9,473 |
|
|
4.15 |
% |
|
December 2017 |
|
1,334,241 |
|
|
1,376,452 |
|
Perimeter Square |
Interest only |
|
|
4.06 |
% |
|
August 2026 |
|
4,500,000 |
|
|
4,166,406 |
|
Riversedge North |
$ |
8,802 |
|
|
6.00 |
% |
|
January 2019 |
|
926,444 |
|
|
962,281 |
|
Walnut Hill Plaza |
$ |
24,273 |
|
|
5.50 |
% |
|
July 2017 |
|
3,464,362 |
|
|
3,535,606 |
|
Twin City Commons |
$ |
17,827 |
|
|
4.86 |
% |
|
January 2023 |
|
3,184,056 |
|
|
3,225,473 |
|
Shoppes at TJ Maxx |
$ |
33,880 |
|
|
3.88 |
% |
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May 2020 |
|
5,951,648 |
|
|
6,081,272 |
|
Bank Line of Credit |
Interest only |
|
|
4.25 |
% |
|
September 2017 |
|
3,000,000 |
|
|
— |
|
Bank Line of Credit |
Interest only |
|
|
3.01 |
% |
|
May 2018 |
|
46,127,250 |
|
|
6,873,750 |
|
Forrest Gallery |
$ |
50,973 |
|
|
5.40 |
% |
|
September 2023 |
|
8,834,660 |
|
|
8,926,712 |
|
Tampa Festival |
$ |
50,797 |
|
|
5.56 |
% |
|
September 2023 |
|
8,534,790 |
|
|
8,627,294 |
|
Winslow Plaza |
Interest only |
|
|
4.82 |
% |
|
December 2025 |
|
4,620,000 |
|
|
4,620,000 |
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Cypress Shopping Center |
$ |
34,360 |
|
|
4.70 |
% |
|
July 2024 |
|
6,609,876 |
|
|
6,625,000 |
|
Harrodsburg Marketplace |
$ |
19,112 |
|
|
4.55 |
% |
|
September 2024 |
|
3,632,616 |
|
|
3,677,501 |
|
Port Crossing |
$ |
34,788 |
|
|
4.84 |
% |
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August 2024 |
|
6,396,584 |
|
|
6,471,636 |
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LaGrange Marketplace |
$ |
15,065 |
|
|
5.50 |
% |
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February 2024 |
|
2,381,726 |
|
|
2,418,212 |
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Freeway Junction |
$ |
31,265 |
|
|
4.60 |
% |
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September 2024 |
|
8,150,000 |
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|
8,150,000 |
|
DF I-Edenton |
$ |
250,000 |
|
1 |
3.75 |
% |
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September 2016 |
|
— |
|
|
650,000 |
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DF I-Moyock |
$ |
10,665 |
|
|
5.00 |
% |
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July 2019 |
|
337,169 |
|
|
418,538 |
|
Graystone Crossing |
$ |
15,672 |
|
|
4.55 |
% |
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October 2024 |
|
4,000,000 |
|
|
4,000,000 |
|
Bryan Station |
Interest only |
|
|
4.52 |
% |
|
November 2024 |
|
4,625,000 |
|
|
4,625,000 |
|
Crockett Square |
Interest only |
|
|
4.47 |
% |
|
December 2024 |
|
6,337,500 |
|
|
6,337,500 |
|
Harbor Point |
$ |
11,024 |
|
|
5.85 |
% |
|
December 2016 |
|
664,864 |
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|
732,685 |
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Pierpont Centre |
Interest only |
|
|
4.15 |
% |
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February 2025 |
|
8,450,000 |
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|
8,450,000 |
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Alex City Marketplace |
Interest only |
|
|
3.95 |
% |
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April 2025 |
|
5,750,000 |
|
|
5,750,000 |
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Butler Square |
Interest only |
|
|
3.90 |
% |
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May 2025 |
|
5,640,000 |
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|
5,640,000 |
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Brook Run Shopping Center |
Interest only |
|
|
4.08 |
% |
|
June 2025 |
|
10,950,000 |
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|
10,950,000 |
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Beaver Ruin Village I and II |
Interest only |
|
|
4.73 |
% |
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July 2025 |
|
9,400,000 |
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|
9,400,000 |
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Columbia Fire Station |
Interest only |
|
|
8.00 |
% |
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December 2017 |
|
477,788 |
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|
450,053 |
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Sunshine Shopping Plaza |
Interest only |
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|
4.57 |
% |
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August 2025 |
|
5,900,000 |
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|
5,900,000 |
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Barnett Portfolio |
Interest only |
|
|
4.30 |
% |
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September 2025 |
|
8,770,000 |
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|
8,770,000 |
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Grove Park Shopping Center |
Interest only |
|
|
4.52 |
% |
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October 2025 |
|
3,800,000 |
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|
3,800,000 |
|
Parkway Plaza |
Interest only |
|
|
4.57 |
% |
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October 2025 |
|
3,500,000 |
|
|
3,500,000 |
|
Conyers Crossing |
Interest only |
|
|
4.67 |
% |
|
October 2025 |
|
5,960,000 |
|
|
5,960,000 |
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Fort Howard Shopping Center |
Interest only |
|
|
4.57 |
% |
|
October 2025 |
|
7,100,000 |
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|
7,100,000 |
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Chesapeake Square |
$ |
23,857 |
|
|
4.70 |
% |
|
August 2026 |
|
4,594,760 |
|
|
— |
|
Revere Loan |
Interest only |
|
|
8.00 |
% |
|
April 2017 |
|
7,450,000 |
|
|
— |
|
Senior convertible notes |
Interest only |
|
|
9.00 |
% |
|
December 2018 |
|
1,400,000 |
|
|
3,000,000 |
|
Senior non-convertible notes |
Interest only |
|
|
9.00 |
% |
|
January 2016 |
|
— |
|
|
2,160,000 |
|
South Carolina Food Lions note |
$ |
68,320 |
|
|
5.25 |
% |
|
January 2024 |
|
12,266,906 |
|
|
12,375,000 |
|
Total Principal Balance |
|
|
|
|
|
|
238,551,135 |
|
|
189,340,456 |
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Unamortized debt issuance cost |
|
|
|
|
|
|
(6,783,873 |
) |
|
(4,711,374 |
) |
Total Loans Payable |
|
|
|
|
|
|
$ |
231,767,262 |
|
|
$ |
184,629,082 |
|
(1)$250,000 plus accrued interest paid quarterly until maturity.
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