Notes Payable and Senior Notes, net (Tables)

3 Months Ended

Mar. 31, 2017

Notes payable and 2017 Notes consisted of the following (in thousands):



Variable Interest Rate:	March 31, 2017			December 31, 2016
LIBOR + 3.50% through 2017 ^(a)	3,894			4,693
LIBOR + 3.75% through 2017 ^(a)	20,558			31,533
Prime + 0.25% through 2018 ^(b)	2,338			—
LIBOR + 2.75% through 2018 ^(a)	8,700			10,500
LIBOR + 3.75% through 2018 ^(a)	42,073			26,444
5.50% through 2017	1,844			2,476
5.00% through 2017	3,807			5,607
Total variable notes payable	$	83,214		$	81,253

Fixed Interest Rate:	March 31, 2017			December 31, 2016
10.00% through 2017	$	—		$	1,604
8.00% through 2018	4,000			4,000
Total fixed notes payable	$	4,000		$	5,604

Senior notes, net of discount	74,911			74,871
Total notes payable and senior notes	$	162,125		$	161,728

Debt issuance costs ^(c)	(574		)	(734		)
Total notes payable and senior notes, net	$	161,551		$	160,994


(a)	LIBOR is the 30-day London Interbank Offered Rate. As of March 31, 2017, LIBOR was 0.98278%.


(b)	Prime is the U.S Prime Rate. At March 31, 2017, Prime was 4.00%.


(c)	Debt issuance costs for non-revolver loans were $0.6 million and $0.7 million as of March 31, 2017 and December 31, 2016, respectively.

Schedule of future minimum payments

As of March 31, 2017, principal maturities of notes payable and senior notes for the years ending December 31 are as follows:



(in thousands)	December 31,
2017	$	105,014
2018	57,111
2019 and thereafter	—
Total	$	162,125

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details

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