Quarterly report pursuant to Section 13 or 15(d)

Unsecured Lines of Credit Payable

v2.4.0.6
Unsecured Lines of Credit Payable
3 Months Ended
Mar. 31, 2013
Unsecured Debt [Abstract]  
Unsecured Lines Of Credit Payable
UNSECURED LINES OF CREDIT PAYABLE
As of March 31, 2013, we maintained a $100.0 million unsecured line of credit maturing in June 2015 ("Credit Facility No. 1") and a $400.0 million unsecured line of credit maturing in July 2016 ("Credit Facility No. 2"). Credit Facilities No. 1 and No. 2 have accordion features that allow us to increase the facilities to $200.0 million and $600.0 million, respectively, subject to additional lender commitments. The amounts of these lines of credit unused and available at March 31, 2013 are as follows (in thousands):
 
Credit Facility
No. 1
 
Credit Facility
No. 2
Committed capacity
$
100,000

 
$
400,000

Borrowings outstanding
(10,000
)
 
(60,000
)
Unused and available
$
90,000

 
$
340,000



We executed borrowings and repayments on the unsecured lines of credit during the 2013 Quarter as follows (in thousands):
 
Credit Facility
No. 1
 
Credit Facility
No. 2
Balance at December 31, 2012
$

 
$

Borrowings
25,000

 
60,000

Repayments
(15,000
)
 

Balance at March 31, 2013
$
10,000

 
$
60,000



We made borrowings during the 2013 Quarter to partially pay off the West Gude mortgage note and repay our 5.125% unsecured notes. We made repayments during the 2013 Quarter using proceeds from the sale of The Atrium Building and cash from operations.