Chatham Lodging Trust | 2013 | FY | 3


Mortgage debt consisted of the following (in thousands):
 
Collateral
Interest
Rate
 
Maturity Date
 
12/31/13
Property
Carrying
Value
 
Balance Outstanding as of
December 31, 2013
 
December 31,
2012
Senior Secured Revolving Credit Facility (1)
2.67
%
 
November 5, 2016
 
$
235,721

 
$
50,000

 
$
79,500

Courtyard by Marriott Altoona, PA
5.96
%
 
April 1, 2016
 
10,841

 
6,378

 
6,572

SpringHill Suites by Marriott Washington, PA
5.84
%
 
April 1, 2015
 
11,925

 
4,937

 
5,104

Residence Inn by Marriott New Rochelle, NY
5.75
%
 
September 1, 2021
 
21,700

 
15,150

 
15,450

Residence Inn by Marriott Garden Grove, CA
5.98
%
 
November 1, 2016
 
44,474

 
32,253

 
32,417

Residence Inn by Marriott San Diego, CA (2)
4.66
%
 
February 6, 2023
 
48,322

 
30,546

 
39,557

Homewood Suites by Hilton San Antonio, TX (3)
4.59
%
 
February 6, 2023
 
30,403

 
17,454

 
18,184

Residence Inn by Marriott Washington, D.C. (4)
6.03
%
 
(4)
 

 

 
19,752

Residence Inn by Marriott Vienna, VA (3)
4.49
%
 
February 6, 2023
 
33,901

 
23,925

 
22,710

Courtyard by Marriott Houston, TX (5)
4.19
%
 
May 6, 2023
 
33,662

 
19,812

 

Hyatt Place Pittsburgh, PA (6)
4.65
%
 
July 6, 2023
 
39,373

 
24,028

 

Residence Inn by Marriott Bellevue, WA (7)
4.97
%
 
December 6, 2023
 
71,345

 
47,580

 

Total
 
 
 
 
$
581,667

 
$
272,063

 
$
239,246

 
(1)
Thirteen properties in the borrowing base serve as collateral for borrowings under the credit facility at December 31, 2013.
(2)
On February 1, 2013, the Company refinanced the mortgage for the Residence Inn San Diego hotel. The new loan has a 10-year term and a 30-year amortization payment schedule.
(3)
On January 18, 2013, the Company refinanced the mortgage loans for the Homewood Suites San Antonio hotel and the Residence Inn Tysons Corner hotel. Both new loans have a 10-year term and a 30-year amortization payment schedule.
(4)
On January 31, 2013, the Company paid off the mortgage loan for the Washington, D.C. hotel. This hotel was rebranded as a Residence Inn by Marriott on September 20, 2013.
(5)
On April 25, 2013, the Company obtained debt secured by a first mortgage on the Houston CY Hotel. The loan has a 10-year term and a 30-year amortization payment schedule.
(6)
On June 17, 2013, the Company obtained debt secured by a first mortgage on the Pittsburgh Hotel. The loan has a 10-year term and a 30-year amortization payment schedule.
(7)
On November 8, 2013, the Company obtained debt secured by a first mortgage on the Bellevue Hotel. The loan has a 10-year term, a 30-year amortization payment schedule but is interest only for the first 12 months.

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