The Company's outstanding debt as of June 30, 2015 and December 31, 2014 is summarized as follows (dollars in thousands):
Interest
June 30,
December 31,
Rate (1)
2015
2014
Credit Facility:
Revolving line of credit
1.79%
$
80,917
$
166,217
Term loan
2.75%
144,558
144,558
Unsecured term loan
—
—
50,000
Fixed rate mortgages payable
3.93%
182,341
153,416
Variable rate mortgages payable
—
—
83,500
Total
$
407,816
$
597,691
(1)
Represents the effective interest rate as of June 30, 2015. Effective interest rate incorporates the stated rate plus the impact of interest rate cash flow hedges and discount and premium amortization, if applicable. For the revolving line of credit, the effective interest rate excludes fees for unused borrowings.
Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.