5 unchanged sentences
Fixed Rate Debt
−Removed: At March 31, 2021, our outstanding fixed rate debt consisted of the following mortgage notes:
+Added: At June 30, 2021, our outstanding fixed rate debt consisted of the following mortgage notes:
Annual Annual Interest
10 unchanged sentences
Increases in market interest rates decrease the fair value of our fixed rate debt, while decreases in market interest rates increase the fair value of our fixed rate debt.
−Removed: Based on the balance outstanding at March 31, 2021 and discounted cash flow analyses through the maturity date, and assuming no other changes in factors that may affect the fair value of our fixed rate debt obligation, a hypothetical immediate one percentage point change in the interest rates would change the fair value of this obligation by approximately $46,008.
+Added: Based on the balance outstanding at June 30, 2021 and discounted cash flow analyses through the maturity date, and assuming no other changes in factors that may affect the fair value of our fixed rate debt obligation, a hypothetical immediate one percentage point change in the interest rates would change the fair value of this obligation by approximately $45,729.
Floating Rate Debt
−Removed: At March 31, 2021, our floating rate debt consisted of $217,000 outstanding under our revolving credit facility.
+Added: At June 30, 2021, our floating rate debt consisted of $244,000 outstanding under our revolving credit facility.
Our revolving credit facility matures on December 29, 2021 and, subject to the payment of extension fees and satisfaction of other conditions, we have the option to extend the maturity date for two, six month periods.
6 unchanged sentences
Generally, a change in interest rates would not affect the value of our floating rate debt but would affect our operating results.
−Removed: The following table presents the approximate impact a one percentage point increase in interest rates would have on our annual floating rate interest expense at March 31, 2021:
+Added: The following table presents the approximate impact a one percentage point increase in interest rates would have on our annual floating rate interest expense at June 30, 2021:
Impact of an Increase in Interest Rates
2 unchanged sentences
Per Year Debt Per Year Share Impact (1)
−Removed: At March 31, 2021 1.41 % $ 217,000 $ 3,060 $ (0.05)
+Added: At June 30, 2021 1.40 % $ 244,000 $ 3,416 $ (0.05)
One percentage point increase 2.40 % $ 244,000 $ 5,856 $ (0.09)
−Removed: (1) Based on the diluted weighted average common shares outstanding for the three months ended March 31, 2021.
−Removed: The following table presents the approximate impact a one percentage point increase in interest rates would have on our annual floating rate interest expense at March 31, 2021 if we were fully drawn on our revolving credit facility:
+Added: (1) Based on the diluted weighted average common shares outstanding for the six months ended June 30, 2021.
+Added: The following table presents the approximate impact a one percentage point increase in interest rates would have on our annual floating rate interest expense at June 30, 2021 if we were fully drawn on our revolving credit facility:
Impact of an Increase in Interest Rates
2 unchanged sentences
Per Year Debt Per Year Share Impact (1)
−Removed: At March 31, 2021 1.41 % $ 750,000 $ 10,575 $ (0.16)
+Added: At June 30, 2021 1.40 % $ 750,000 $ 10,500 $ (0.16)
One percentage point increase 2.40 % $ 750,000 $ 18,000 $ (0.28)
−Removed: (1) Based on the diluted weighted average common shares outstanding for the three months ended March 31, 2021.
+Added: (1) Based on the diluted weighted average common shares outstanding for the six months ended June 30, 2021.
The foregoing tables show the impact of an immediate one percentage point change in floating interest rates.
9 unchanged sentences
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.