11 unchanged sentences
Weighted Average Interest Rate
−Removed: The fair value of mortgages payable is estimated at $94.2 million as of September 30, 2022.
−Removed: The table above incorporates those exposures that exist as of September 30, 2022;
+Added: The fair value of mortgages payable is estimated at $94.1 million as of March 31, 2023.
+Added: The table above incorporates those exposures that exist as of March 31, 2023;
it does not consider those exposures or positions which could arise after that date.
As a result, our ultimate realized gain or loss with respect to interest rate fluctuations will depend on the exposures that arise during the period and interest rates.
−Removed: As of September 30, 2022, we had interest rate caps and swaps, which are not accounted for as hedges, that we primarily use as part of our interest rate risk management strategy.
−Removed: Our interest rate caps and swaps effectively limit our exposure to interest rate risk by providing a ceiling on the underlying floating interest rates of our floating rate debt.
−Removed: As of September 30, 2022, a 100-basis point increase or decrease in interest rates on the portion of our debt bearing interest at floating rates would result in an increase in interest expense of approximately $79,000 or decrease in interest expense of approximately $248,000, respectively, for the quarter ended September 30, 2022.
+Added: As of March 31, 2023, we had interest rate caps and swaps, which are not accounted for as hedges, that we primarily use as part of our interest rate risk management strategy.
+Added: Our interest rate caps and swaps effectively limit our exposure to interest rate risk by providing a ceiling on the underlying interest rate for $68.6 million of our debt.
+Added: Based on our debt outstanding and interest rates in effect at March 31, 2023, a 100-basis point increase or decrease in interest rates on the portion of our debt bearing interest at variable rates would increase interest expense by approximately $62,000 or decrease interest expense by approximately $62,000, respectively, for the quarter ended March 31, 2023.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.