Mortgage and Unsecured Debt As of December 31, 2023 (Dollars in thousands)
(35) Variable rate loan based on Overnight SONIA plus an interest rate spread of 215bps. Through an interest rate swap agreement, Overnight SONIA is fixed at 2.14% for a portion of the balance. (36) Variable rate loan based on 1M SOFR plus an interest rate spread of 230 bps. Through an interest rate cap agreement, 1M SOFR is currently fixed at 4.00%. (37) Variable rate loan based on one-month (1M) CDOR plus an interest rate spread of 130bps. 1M CDOR as of December 31, 2023 was 5.46%. (38) Variable rate loan based on 1M SOFR plus an interest rate spread of 305 bps. Through an interest rate cap agreement, 1M SOFR is currently fixed at 3.89%. (39) Variable rate loan based on CDOR plus an interest rate spread of 185 bps. Through an interest rate swap agreements, CDOR is currently fixed at rates ranging from 3.66% to 3.99% for a portion of the balance. (40) Variable rate loan based on 1M SOFR plus an interest rate spread of 300 bps. Through an interest rate swap agreement, 1M SOFR is currently fixed at 4.44%. (41) Variable rate loan based on Overnight SONIA plus an interest rate spread of 215bps. Through an interest rate swap agreement, Overnight SONIA is fixed at 2.14% for a portion of the balance. (42) Variable rate loan based on 30 day Average SOFR, which is subject to a floor of 0.035%, plus an interest rate spread of 272 bps. 30 day Average SOFR, as of December 31, 2023 was 5.34%. (43) Variable rate loan based on 1M SOFR, which is subject to a floor of 0.00% plus an interest rate spread of 207bps. Through interest rate cap agreements, 1M SOFR is currently fixed at 3.50%. (44) Variable rate loan based on 1M Term SOFR, which is subject to a floor of 0.00% plus an interest rate spread of 310bps. Through interest rate swap agreements, 1M Term SOFR is currently fixed at 3.77%. (45) Amounts shown in USD Equivalent. KRW Equivalent is 902.0 billion. (46) Amounts shown in USD Equivalent. CNY Equivalent is 1.8 billion. (47) Notes exchangeable into ordinary shares of Klépierre S.A. at a common price of €27.2092. (48) Variable rate loan based on 1M SOFR, which is subject to a floor of 0.00% plus an interest rate spread ranging from 115bps to 170bps. 1M SOFR, as of December 31, 2023 was 5.35%. (49) Variable rate loan based on one-month (1M) BSBY, which is subject to a floor of 0.00% plus an interest rate spread of 140bps. 1M BSBY, as of December 31, 2023 was 5.44%. The changes in consolidated mortgages and unsecured indebtedness for the years ended December 31, 2023, 2022 and 2021 are as follows: 2023 2022 2021 Balance,BeginningofYear................................. $ 24,960,286 $ 25,321,022 $ 26,723,361 Additions during period: NewLoanOriginations ................................ 3,610,389 3,443,739 9,255,220 Loans assumed in acquisitions and consolidation. . . . . . . . . . . . — 85,689 46,263 Net(Discount)/Premium ............................... (43,438) (1,922) (9,118) NetDebtIssuanceCosts............................... (60,891) (10,166) (35,818) Deductions during period: LoanRetirements .................................... (2,559,276) (3,687,330) (10,386,133) Amortization of Net Discounts/(Premiums) . . . . . . . . . . . . . . . . . 432 7 168 Debt Issuance Cost Amortization . . . . . . . . . . . . . . . . . . . . . . . . 28,660 26,113 24,794 Scheduled Principal Amortization . . . . . . . . . . . . . . . . . . . . . . . . (16,455) (22,446) (48,386) ForeignCurrencyTranslation ........................... 113,716 (194,420) (249,329) Balance,CloseofYear.................................... $ 26,033,423 $ 24,960,286 $ 25,321,022
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