Mortgages payable at December 31, 2013 and 2012 consist of the following:
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(dollars in thousands) |
December 31, 2013 |
December 31, 2012 |
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6.76% mortgage note due September 11, 2013, secured by 1 self-storage facility, repaid September 11, 2013 |
— | 896 | ||||||
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6.35% mortgage note due March 11, 2014, secured by 1 self-storage facility, repaid December 11, 2013 |
— | 983 | ||||||
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5.99% mortgage notes due May 1, 2026, secured by 1 self-storage facility with an aggregate net book value of $4.4 million, principal and interest paid monthly (effective interest rate 6.18%) |
2,254 | 2,372 | ||||||
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Total mortgages payable |
$ | 2,254 | $ | 4,251 | ||||
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